Pakistan cuts profit rates on savings instruments amid inflation easing
National Savings Centre slashes rates by up to 100 basis points as benchmark interest declines
Business Desk
The Business Desk tracks economic trends, market movements, and business developments, offering analysis of both local and global financial news.
Downward trend in profit rates follows a sharp decline in the benchmark interest rate since June 2024.
File/National Savings website
Pakistan’s state-run National Savings Centre has reduced profit rates on multiple investment instruments, with cuts ranging from 10 basis points to 100 basis points.
The new rates take effect May 19, with the largest reduction seen in savings accounts, where the profit rate drops by 100 basis points to 9.50%.
The profit rate on special savings certificates is trimmed by 30 basis points to 10.90%, while Behbood, pension, and Shuhhada certificates see a 24 basis-point decline to 13.44%. Regular certificates fall 12 basis points to 11.52%, and Sarwa Islamic savings accounts decrease 10 basis points to 10.34%.
The downward trend in profit rates follows a sharp decline in the benchmark interest rate since June 2024, which has fallen 1,000 basis points to 11%. The cuts were made possible by a sustained easing of inflation, now at 0.7%—a multi-decade low.
Comments
See what people are discussing