National Saving Schemes: CDNS raises rates on its products.

In addition, the return on three-month Short Term Savings Certificates (STSC) rose to 20.84% while yield of six-month STSC surged to 20.82%. The revision in rates of savings schemes come after the Monetary Policy Committee (MPC) of the State Bank of Pakistan (SBP) raised the key interest rate by 100bps, taking it to 21% last month. The Central Directorate of National Savings (CDNS) announced that it has revised upwards the rates of return on some National Savings schemes. [Extracted from the article]