Pakistan government has revised the profit rates on National Savings Schemes (NSS) effective from July 1, 2013 till further notification.
A spokesman of NSS centre said on Saturday the new rates of profit on different NSS have been made in the light of policy rate discount by State Bank of Pakistan from 9.50 percent to 9 percent (minus 50 basis points).
An official of the Central Directorate of National Savings said the new profit rate on Bahbood Savings Certificate would be now 12.24 after a decline of 0.48 percent.
Similarly new rate of interest on Defence Certificate would be 10.36 percent from its earlier rate of 10.80 percent.
The new rate of profit on Savings Accounts would be now 6 percent after a decline of 0.65 percent in its interest rate, he added.
The government with the consent of finance experts in the Ministry of Finance launched different scheme last year for the benefit of small investors, but after finding some flaws in the said scheme, the government decided not to float the proposed NSS.
The NSS product maturities are across three to 10 years with profit rates ranging from 12 percent to 13 percent.