ISLAMABAD: The Qaumi Bachat aka National Savings has announced a reduction in profit rates for various savings accounts, with cuts ranging from 0.03pc to 1.22pc, a day after SBP revised interest rates.
Experts suggest that the decrease in profit rates can be the potential indicator of a further decline in interest rates in upcoming monetary policy adjustments.
The profit rate for the Sarwa Islamic Term Account has been reduced by 1.22pc, bringing it to 16.36pc. Similarly, the Sarwa Islamic Savings Account has seen a cut of 1pc, now offering a return of 18pc.
The interest rate for the Short-Term Savings Certificates also dropped by 0.68pc to rest at 17.2pc. The Regular Income Certificate now offers a profit rate of 14.52pc, reflecting a decrease of 12 basis points.
Special Savings Certificates and Special Savings Accounts have also been affected, with both seeing their rates lowered by 0.3pc to 15.5pc.
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