The government of has announced an increase in interest rates for various savings schemes under the National Savings Office, effective January 1, 2025. The new interest rate for savings certificates will rise from 12.25 per cent to 12.55 per cent, reflecting changes in average interest rates of 5-year and 2-year treasury bonds.
This adjustment follows a recommendation from the Internal Resources Division of the Ministry of Finance. Investors purchasing savings certificates starting from January 1 will benefit from the new rates, while those who already hold savings certificates will continue to receive the previous rates.
The government has introduced different interest rates for five types of savings certificates. For instance, the Family Savings Certificate will offer an interest rate of 12.55 per cent. In cases of redemption before maturity, investors will receive rates ranging from 10.11 per cent to 12.50 per cent, depending on the duration of investment.
The 5-Year Bangladesh Savings Certificate will carry an interest rate of 12.40 per cent. For early redemption, investors will earn 10.13 per cent in the first year, 10.64 per cent in the second year, 11.19 per cent in the third year, 11.78 per cent in the fourth year, and 12.40 per cent in the final year.
The 3-Month Profit-Based Savings Certificate will yield an interest rate of 12.30 per cent, with redemption rates of 11.65 per cent in the first year and 12.30 per cent in subsequent years.
Additionally, the Pension Savings Certificate will maintain an interest rate of 12.55 per cent. Investors redeeming before maturity will earn rates starting at 10.23 per cent in the first year and increasing to 12.55 per cent in the last year.
The Post Office Fixed Deposit will sustain an investment rate of 12.25 per cent, with redemption rates of 11.50 per cent in the initial year and 12.25 per cent thereafter.
This decision aligns with the government's strategy to promote savings among citizens and enhance returns on investments in treasury securities. The new interest rates aim to provide a timely incentive for prospective investors and boost overall confidence in the savings schemes, the government circular said.
