Savings certificate interest unchanged: Finance secretary
The finance secretary said this referring to the recent media reports that the interest rates on savings certificates have been slashed
The interest rates of various savings certificates remain unchanged, Finance Secretary Abdur Rouf Talukder said on Sunday.
"On Thursday, the government reduced the interest rate at the Post Office Savings Bank. We have adjusted the interest rate with the interest rate of the government deposit. There is no change of the existing interest rate of savings certificates," he told BSS after attending a function at the Prime Minister's Office (PMO) in the capital.
The finance secretary said this referring to the recent media reports that the interest rates on savings certificates have been slashed.
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On Thursday, the Internal Resources Division (IRD) issued a circular slashing the interest rate on postal savings to facilitate implementation of the single-digit interest rate in the country's banking sector.
According to the circular, the interest on the fixed deposit for one year has been fixed at 5 percent. For two years, it is 5.50 percent, while for three years, the interest has been fixed at 6 percent.
Investors may collect the profit every six months, for which they will get 4 percent in the first year, 4.50 percent in the second year and 5 percent interest in the third year.
