Government slashes NSS profit rates

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.

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