Interest rates of govt savings schemes up
Investment limit doubles
Unb, Dhaka
The government has revised up the interest rates of national savings schemes by 1.50 percentage point and doubled the investment limits in these schemes, except Pensioners Savings Certificate, to make the investment tools more attractive.The new rates and the enhanced investment limits will come into effect Sunday next, said an official announcement yesterday. The interest rate of 5-year Bangladesh Savings Certificate will be 12 percent from the existing 10.50 percent while the rate of three-monthly profit-earning savings certificate will be 11.50 percent from 10 percent and Pensioners Savings Certificate will be 12.50 percent from 11 percent. However, the interest rate of Post Office Savings Bank Account has been raised by half percentage point to 12 percent from the existing 11.50 percent. The maximum limit in Bangladesh Savings Certificate, Three-monthly Profit-earning Savings Certificate and Post Office Savings Account has been raised to Tk 50 lakh from Tk 25 lakh in the case of individual account, and to Tk 1 crore from Tk 50 lakh in the case of joint account. The investment limit of Pensioners Savings Certificate has been raised to Tk 30 lakh from Tk 25 lakh. "Government borrowing through the schemes is on downtrend as sales of the instruments have marked a fall," an official told the news agency. He said the investors might have preferred banking instruments for their lucrative offers compared to the national savings schemes.
| 
