KARACHI: The National Savings Schemes (NSS) has slashed the profit rates, new savings rates will be effective from November 1st, 2019.
Profit rate on Defence Saving Certificate cut by 2.33%, to 10.68%.
Profit Rate on Pension Behbood cut by 2.28%, to 12.48%.
Profit Rate on Regular Income Certificate cut by 2.04%, to 10.92%.
Profit Rate on Special Saving Certificate cut by 1.70%, to 11%.
Profit Rate on saving accounts cut by 2.05%, to 8.20%.
This has been done in line with declining secondary market yields on bonds.
Decline in fixed income profit rates is going to be positive for equities /stock market, analyst Khurram Schehzad said.