{"id":68917,"date":"2020-08-05T12:59:59","date_gmt":"2020-08-05T07:59:59","guid":{"rendered":"https:\/\/www.zameen.com\/news\/?p=68917"},"modified":"2020-08-05T13:00:00","modified_gmt":"2020-08-05T08:00:00","slug":"govt-raises-profit-rates-saving-certificates-encourage-investments","status":"publish","type":"post","link":"https:\/\/www.zameen.com\/news\/govt-raises-profit-rates-saving-certificates-encourage-investments.html","title":{"rendered":"Govt raises profit rates on saving certificates to encourage investments"},"content":{"rendered":"\n<p>Karachi: The government recently stated that it had revised profit rates on saving certificates by as much as 36 basis points in order to encourage investments, a news source reported. The Central Directorate of National Savings (CDNS), which works under the Finance Ministry, announced 36 basis points increase on Pensioner Benefit Account, Shuhada Family Welfare Account, and Behbood Saving Certificates. The profit on these certificates increased to 10.32%.<\/p>\n\n\n\n<p>Read: <a href=\"https:\/\/www.zameen.com\/news\/sbp-shares-data-foreign-investment-inflows-recorded-during-fy2019-20.html\" target=\"_blank\" rel=\"noreferrer noopener\">SBP shares data on foreign investment inflows recorded during FY2019-20<\/a><\/p>\n\n\n\n<p>The rates on Defence Saving Certificates have increased by 34 basis points to 8.44% while the rates on Regular Income Certificates were seen to increase by 20 basis points to 7.80%. The rates are applicable from August 4. CDNS had also revised the profit rates last month by 16 basis points.<\/p>\n\n\n\n<p>Read: <a href=\"https:\/\/www.zameen.com\/news\/govt-to-screen-investments-in-national-savings-schemes.html\" target=\"_blank\" rel=\"noreferrer noopener\">Govt to screen investments in National Savings schemes<\/a><\/p>\n\n\n\n<p>Last month, the State Bank of Pakistan (SBP was expected to announce an additional decline of around 50 basis points in the interest rate from its current position at 7%. However, SBP deferred its Monetary Policy Committee meeting till September; signalling that interest rate has bottomed out at its current rate. It was on the back of these developments that the profit rates on certificates were increased this month.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Karachi: The government recently stated that it had revised profit rates on saving certificates by as much as 36 basis points in order to encourage investments, a news source reported. The Central Directorate of National Savings (CDNS), which works under the Finance Ministry, announced 36 basis points increase on Pensioner Benefit Account, Shuhada Family Welfare Account, and Behbood Saving Certificates. The profit on these certificates increased to 10.32%. Read: SBP shares data on foreign investment inflows recorded during FY2019-20 The rates on Defence Saving Certificates have increased by 34 basis points to 8.44% while the rates on Regular Income Certificates were seen to increase by 20 basis points to 7.80%. The rates are applicable from August 4. CDNS had also revised the profit rates last month by 16 basis points. Read: Govt to screen investments in National Savings schemes Last month, the State Bank of Pakistan (SBP was expected to announce an additional decline of around 50 basis points in the interest rate from its current position at 7%. However, SBP deferred its Monetary Policy Committee meeting till September; signalling that interest rate has bottomed out at its current rate. It was on the back of these developments that the&hellip;<\/p>\n","protected":false},"author":57,"featured_media":63188,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[15017],"tags":[36372,36371,7078],"persona":[],"class_list":{"0":"post-68917","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-notices-announcements","8":"tag-govt-raises-profit-rates-on-saving-certificates-to-encourage-investments","9":"tag-profits-on-saving-certificates","10":"tag-saving-certificates","11":"cat-15017-id"},"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.2 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Govt raises profit rates on saving certificates from Aug 4 - Zameen News<\/title>\n<meta name=\"description\" content=\"Karachi: The government recently stated that it had revised profit rates on saving certificates by as much as 36 basis points in order to encourage investments, a news source reported.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.zameen.com\/news\/govt-raises-profit-rates-saving-certificates-encourage-investments.html\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Govt raises profit rates on saving certificates from Aug 4 - Zameen News\" \/>\n<meta property=\"og:description\" content=\"Karachi: The government recently stated that it had revised profit rates on saving certificates by as much as 36 basis points in order to encourage investments, a news source reported.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.zameen.com\/news\/govt-raises-profit-rates-saving-certificates-encourage-investments.html\" \/>\n<meta property=\"og:site_name\" content=\"Pakistan Real Estate News &amp; 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