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NATIONALSAVINGS
SCHEMES:CDNSREVISES
RATES
Published in Business Recorder May 14, 2024
Rahid Hussain MAF-22-42
INTRODUCTION
Central Directorate of National Savings (CDNS):
• Government body managing National Savings
Schemes
• Adjusts interest rates based on economic conditions
Recent Changes:
• Rates revised four times in the last five months
DECREASED RATES
Special Savings Certificates (SSC)
• New Rate: 15.70% (decreased by 10bps)
Regular Income Certificates (RIC)
• New Rate: 14.64% (decreased by 12bps)
Bahbood Savings Certificates (BSC), Pensioners Benefit
Account (PBA), Shuhada Family Welfare Account (SFWA)
• New Rate: 15.36% (decreased by 24bps)
Defence Savings Certificate
• New Rate: 14.39% (decreased by 1bps)
INCREASED RATES
Short Term Savings Certificates (STSC)
• New Rate: 19.24% (increased by 24bps)
Sarwa Islamic Term Account (SITA)
• New Rate: 19.10% (increased by 56bps)
Unchanged Rates
• Saving Account: 20.5%
• Sarwa Islamic Savings Account (SISA):
20.5%
ECONOMIC CONTEXT
Monetary Policy Committee (MPC)
• Key policy rate unchanged at 22%
Inflation Rates
• April 2024: 17.3% (year-on-year)
• March 2024: 20.7% (year-on-year)
CONCLUSION
• CDNS adjusts rates in response to economic
conditions
• Aims to balance returns for investors with
economic stability

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National Saving Schemes : CDNS Revises Rate

  • 1. NATIONALSAVINGS SCHEMES:CDNSREVISES RATES Published in Business Recorder May 14, 2024 Rahid Hussain MAF-22-42
  • 2. INTRODUCTION Central Directorate of National Savings (CDNS): • Government body managing National Savings Schemes • Adjusts interest rates based on economic conditions Recent Changes: • Rates revised four times in the last five months
  • 3. DECREASED RATES Special Savings Certificates (SSC) • New Rate: 15.70% (decreased by 10bps) Regular Income Certificates (RIC) • New Rate: 14.64% (decreased by 12bps) Bahbood Savings Certificates (BSC), Pensioners Benefit Account (PBA), Shuhada Family Welfare Account (SFWA) • New Rate: 15.36% (decreased by 24bps) Defence Savings Certificate • New Rate: 14.39% (decreased by 1bps)
  • 4. INCREASED RATES Short Term Savings Certificates (STSC) • New Rate: 19.24% (increased by 24bps) Sarwa Islamic Term Account (SITA) • New Rate: 19.10% (increased by 56bps) Unchanged Rates • Saving Account: 20.5% • Sarwa Islamic Savings Account (SISA): 20.5%
  • 5. ECONOMIC CONTEXT Monetary Policy Committee (MPC) • Key policy rate unchanged at 22% Inflation Rates • April 2024: 17.3% (year-on-year) • March 2024: 20.7% (year-on-year)
  • 6. CONCLUSION • CDNS adjusts rates in response to economic conditions • Aims to balance returns for investors with economic stability