• Tuesday, Oct 19, 2021
  • Last Update : 06:53 pm

Government reduces interest rates on savings certificates

  • Published at 06:37 pm September 21st, 2021
national savings certificates (NSC)
Representational image of national savings certificates (NSC)

The new interest rates will be applicable for investments over Tk15 lakh for both individual and institutional investors

The government, in a circular issued on Tuesday, reduced the interest rates on savings certificates and wage earners development bonds by 1% to 3%.

The International Resources Division (IRD) under the Ministry of Finance issued the circular, 

According to the circular, the new interest rates will be applicable for investments over Tk15 lakh for both individual and institutional investors. 

For investments below Tk15 lakh, the investors will get the existing interest rate, which is 11.28%. 

However, the interest rate will be 10.30% instead of 11.28% for five years savings certificates over Tk15 lakh. 

If it goes above Tk30 lakh, the interest rate will be further reduced to 9%.

In the case of wage earners development bond, the new interest rate will be 10.27% instead of 11.20% if the amount crosses Tk15 lakh. 

For Tk30 lakh and above, the interest rate will be 9.33% and above Tk50 lakh, 8.4%.

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