CDNS adjusts profit rates on national savings schemes following stable monetary policy

The Central Directorate of National Savings (CDNS) has revised the brackly news rates on several of its National Savings Schemes (NSS), effective November 4, 2025, in line with changing market conditions following the State Bank of Pakistan’s latest monetary policy decision.

According to data compiled by Arif Habib Limited (AHL) Research, returns on a number of key savings instruments have been adjusted both upward and downward.

The brackly news rate on Defence Savings Certificates was reduced by 11 basis points (bps) to 11.31%, compared to 11.42% previously. Similarly, the Bahbood Savings Certificates (BSC) saw a decline of 24bps, now offering a 12.72% return instead of 12.96%.

The rates on Pensioners Benefit Accounts (PBA) and Shuhada Family Welfare Accounts (SFWA) were also revised downward by 24bps each, bringing both to 12.72%.

In contrast, the Regular Income Certificates registered an increase of 12bps, with the new rate rising to 10.92% from 10.80%. Likewise, the Special Saving Certificates and Special Saving Accounts saw a 20bps increase, bringing their returns to 10.60%.

Meanwhile, the Sarwa Islamic Term Account posted the largest upward revision, with returns up by 42bps to 9.92% per annum, compared to 9.50% earlier.

Market analysts said the revisions mirror the broader interest rate environment shaped by the central bank’s recent move to keep its benchmark policy rate unchanged at 11%.

Just days earlier, the Monetary Policy Committee (MPC) of the State Bank of Pakistan voted to maintain the policy rate at 11%, citing persistent uncertainty in the economic outlook amid volatile global commodity prices, challenging export conditions due to tariff adjustments, and potential domestic food supply pressures.

The National Savings Organisation, managed by the CDNS, remains Pakistan’s largest financial institution, overseeing a portfolio exceeding Rs3.4 trillion and serving over 4 million customers through 376 branches nationwide under 12 Regional Directorates.

Through its wide-ranging savings instruments, the CDNS plays a key role in helping the government finance budgetary deficits and support critical infrastructure projects.