The federal government has revised the profit rates on National Savings Schemes (NSS), with significant cuts of up to 250 basis points, effective December 10, 2024.
According to data released by Arif Habib Limited (AHL), the profit rate for the Regular Income Certificate (RIC) has been reduced by 10 basis points, bringing it to 12.00%.
Meanwhile, the profit rate on Savings Accounts has seen the steepest decline, slashed by 250 basis points to 13.50%. Similarly, the profit rates for Islamic savings instruments have also been revised downward. The Sarwa Islamic Savings Account (SISA) and the Sarwa Islamic Term Account (SITA) now offer a profit rate of 10.44%, reflecting a cut of 72 basis points.
These adjustments come as part of broader economic measures by the government to manage fiscal policies amid evolving economic conditions. National Savings Schemes remain a popular investment choice for individuals seeking secure returns, though the revised rates may impact investor sentiment.
