The Central Directorate of National Savings (CDNS) has reduced the rates of return on a number of its National Savings Schemes (NSS) with the decrease going as low as 100 basis points (bps), it was learnt on Wednesday.
The rate of Saving Account (SA) was lowered by 100bps to 9.50% from 10.50%, brokerage house Topline Securities reported.
The Defence Saving Certificates (DSC) will offer a return of 11.91%, after a decline of 21bps from 12.12%.
The return on Bahbood Savings Certificates (BSC) declined by 24bps to 13.44% from 13.68%.
National Savings Schemes: CDNS increases profit rates on majority of its instruments
Meanwhile, the rates of Pensioners Benefit Account (PBA) and Shuhda Family Welfare Account (SFWA) also lowered by 24bps each, to 13.44% each.
Similarly, Regular Income Certificates (RIC) will offer an 11.52% return, as compared to 11.70% earlier, a drop of 18bps.
American Dollar Exchange Rate