The Central Directorate of National Savings (CDNS) has revised the rates of return on a number of its National Savings Schemes (NSS), effective September 17, 2025, according to data compiled by Arif Habib Limited (AHL) Research.
The rate on Short Term Savings Certificates was increased by 6 basis points (bps) to 10.42%, compared to 10.36% earlier. Similarly, returns on the Sarwa Islamic Saving Account and the Sarwa Islamic Term Account were raised by 42 bps each, with both now offering 9.92% per annum against the previous 9.50%.
In contrast, the profit rate on Defence Savings Certificates was revised downward by 12 bps to 11.42%, compared to 11.54% earlier.
Analysts note that the adjustments reflect the evolving interest rate environment following the State Bank of Pakistan’s recent monetary policy decision to keep the benchmark policy rate unchanged at 11%.
Days ago, the Monetary Policy Committee (MPC) of the State Bank of Pakistan (SBP) decided to keep the policy rate unchanged at 11%, citing the adverse impact of recent floods on the near-term macroeconomic outlook.
The National Savings Organisation is Pakistan’s largest financial institution, managing a portfolio exceeding Rs3.4 trillion and serving over 4 million customers through a network of 376 branches across the country, administered by 12 Regional Directorates.
The CDNS helps the government finance budgetary deficits and support critical infrastructure projects.
