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.