New interest rates on savings certificates effective from today

The government has reduced the interest rates on all major national savings certificates.

The Ministry of Finance has issued a circular announcing the new rates for five key savings instruments, namely the family savings scheme.

The new profit rate has been increased from a maximum of 11.82 percent to 11.98 percent, depending on the type of scheme.

The new profit rates will come into effective from today, Tuesday (July 1).

 Earlier, the profit rates of savings certificates were fixed on January 1. At that time, the maximum profit rate was fixed from 12.25 percent to 12.55 percent depending on the type of scheme.

A circular was issued on Monday (June 30) as per order of the President's order, setting new rates of savings certificates. It was signed by Assistant Secretary Md. Mobarak Hossain. 

The five schemes whose profit rates have been reduced include Family Savings Certificate, Five-Year Bangladesh Savings Certificate, Three-Month Profit-Based Savings Certificate, Pensioner Savings Certificate and Post Office Fixed Deposit or Post Office Savings Bank Term Account.