Govt increases the National Savings Profit Rates

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The government has raised the National Savings Schemes (NSS)’s incentive rate.

The rate of profit on Bahbood Savings Certificates (BSC) has been increased by 1.44% to 14.16%, and the profit rate on Special Savings Certificates (SSC) has been increased by 1.40% to 12.40%. Similarly, the Regular Income Certificates’ (RIC) profit rate has increased by 0.96% to 12%, and the Savings Account (SA) has gone up by 2.50% to 10.75%.

The annual profit on Short-Term Savings Certificates (STSC) increased from 10.40 to 13.75%, and the rate of return on Defense Savings Certificates (DSC) has been significantly increased on an annual basis, with a profit rate of 8% in the first year and a rate of 222% in the tenth year.

And, Shuhada’s Family Welfare Account (SFWA) holders will get a 14.16% profit instead of 12.72%. The benefit for Pensioners’ Benefit Account (PBA) holders has increased from 12.72% to 14.6%.

The withholding tax rate for the filer on the profits earned is 15% and 30% for the non-file.

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