Government Raises Benefits on Qaumi Bachat Scheme

• The govt has increased benefits on the Qaumi Bachat Scheme and other National Savings Schemes.
• Financial experts noted enhancements in benefits for several savings schemes.
• Interest rates on Short Term Saving Certificates (STSC) have seen a slight reduction.

In a recent announcement, the government unveiled substantial improvements in the benefits offered across various national savings schemes, with a particular emphasis on the Qaumi Bachat Scheme. This decision follows a comprehensive review of savings certificates and schemes conducted by the government.

Financial experts at Topline Securities have highlighted that several savings schemes will now provide increased benefits. Notably, the Special Savings Certificates (SSC), Regular Income Certificates (RIC), Pensioners Benefit Account (PBA), Behbood Savings Certificates (BSC), and Shuhada Family Welfare Account (SFWA) will offer higher rates of benefits.

However, there has been a slight reduction of 76 basis points in the interest rate on short-term savings certificates (STSC). This adjustment aims to align the rates with prevailing market trends while maintaining competitiveness for investors.

Specifically focusing on the Qoumi Bachat Scheme, the interest rate on Special Savings Certificates has been raised by 20 basis points, now standing at 15.8%. Similarly, the benefits of a savings account have been set at 20.5%, providing savers with more attractive returns.

Furthermore, the government has decided to keep the rates of benefits unchanged on Defense Saving Certificates (DSC), Saving Accounts (SA), Sargodha Islamic Term Accounts (SITA), and Sargodha Islamic Saving Accounts (SISA). This decision aims to ensure stability and reliability for investors who opt for these schemes.

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These revisions in the benefits rates are designed to promote savings and investment among individuals and offer them more appealing options under the Qaumi Bachat Scheme and other national savings schemes. Investors are advised to stay informed about these changes to make well-informed decisions regarding their savings and investments.