Finance
Profit Rate Rate of profit on savings certificates decreased
Dhaka, September 21: The government has reduced the profit rate of the National Savings Certificate Schemes. On Tuesday (September 21), the Internal Resources Department of the Ministry of Finance issued a notification in this regard. According to the new rate, the profit rate in savings schemes up to Tk 15 lakh has been kept the same as before, but the rate of return has been reduced in more schemes.
The revised rate will be effective only for those who buy new savings certificates, the notification said. In addition, the new rate of return will be effective if the previously purchased savings certificates are reinvested after expiration. The new rate of return will apply to both individuals and organizations. In addition, in case of joint ventures, each investor will get a return on the total investment in all the savings schemes at the applicable rate.
According to the notification, the five-year savings certificate currently yields 11.28 percent profit at the end of the term. However, under the new rules, those who will invest more than Tk 15 lakh in these savings certificates will get a profit at the end of the term at the rate of 10.30 percent. And if you invest more than 30 lakh, the profit rate will be 9 percent. However, the profit rate will remain the same up to Tk 15 lakh.
At the end of the term, the three-year term of the three-month profit-based savings certificate is 11.04 percent. It has now been reduced to 10 percent for investments of more than Tk 15 lakh. And with an investment of more than Tk 30 lakh, the profit will be 9 percent at the end of the term. However, the profit rate will remain the same up to Tk 15 lakh.
At the end of the term, the five-year term pension savings for the retirees would have yielded a profit at the rate of 11.76 percent. Now those who will invest more than Tk 15 lakh in this savings certificate will get 10.75 percent profit at the end of the term. And if you invest more than 30 lakh, this rate will be 9.75 percent. However, the profit rate will remain the same up to Tk 15 lakh.
