Several national saving certificate
offerings suffered a fall in investments of 18.7 percent during the first half of ongoing financial year 2017-18, SBP data revealed.
Between October 2002 and August 2003, pounds 30,000 was transferred from a building society account and he diverted a cheque for pounds 9,195 paid out to her from a National Saving Certificate
National Saving Certificate
Act, 1917, and Post Office National
"The compounding of interest, which is biannual in the case of 10 year National Saving Certificate
, 5 year National Saving Certificate
and KVP, shall be done on an annual basis from April 1," the statement added.
Increase in interest rates are also reflected on the saving rate (national saving certificates
), lending rate, and the discount rate.
The increase in interest rate during the present government has given considerable boost to small saving deposits in the National Saving Certificates
The CDNS, which offers national saving certificates
to individuals to attract investment, provides the raised funds to the government, which mostly uses the funds for budgetary financing.
He said that pension benefit certificates and 'Behbood' certificates of the National Savings would also be sold through the post offices and an agreement is being executed with National Savings Directorate for sale of National Saving Certificates
at Postal Counters.
We were a profitable department till 2009-10 when we started facing losses due to two reasons: the first was a sudden increase of 50pc in the salaries of staff and the second followed a government decision to withdraw the facility of issuing national saving certificates
by the department.
Scheme (MIS), 5- & 10-year National Saving Certificates
All kinds of services that are such as registry and speed post, monthly income schemes, national saving certificates
, e- money order and e- payment of telephone bills will be on offer at the new facility too.
He said that an agreement is being executed with National Savings Directorate for sale of National Saving Certificates
at Postal Counters.