The federal government has reduced the rate of interest of various national savings schemes, the notification of which has been issued.
According to the notification, the interest rate of savings, special savings accounts, and defense savings schemes have been reduced, and regular income certificates and welfare savings certificates will also get lower interest than before.
According to the notification, the profit of Pensioners Benefit and Martyrs Family Welfare Accounts has been fixed from 15.36% to 14.16%, while the annual profit of Welfare Savings Certificate has also been reduced to 14.16% and the rate of profit on Regular Income Certificate has been reduced from 14.52% to 12.72%.
According to the notification, the new rate of interest will be applicable from September 25, 2024.
