By S M Zahid Hossain

KHULNA, Mar 10, 2025 (BSS) – Sales of all kinds of savings certificates have increased in Khulna after the government enhanced the interest rates.

From January 1, this year, the interim government has increased the interest rates for various savings (Sanchayapatra) certificates to 12 percent aiming to give the fixed-income group relief from the escalating inflation.

The savings instruments are: the five-year Bangladesh savings certificate, the three monthly profit-bearing Sanchayapatra, the five-year family savings certificate and the five-year pensioners' savings certificate.

Bangladesh Bank Khulna Branch sources said after increasing the interest rates, savings certificates worth Taka 176.67 were sold to 1,065 clients in January and February, this year. In November-December, 2024, savings tools worth Taka 52.72 crore were sold to 853 clients.

Sources said, 358 clients bought three-monthly profit-bearing Sanchaypatra worth Taka 19.83 crore in January and February, 2025. In November-December, 2024, savings tools worth Taka 14.83 crore were sold to 265 clients.

Five-year pensioners’ savings certificates valued Taka 19.83 crore were sold to 87 clients in January-February while 67 clients bought the savings tools worth Taka 10.22 crore in the last November-December.

The five-year Bangladesh savings certificates worth Taka 17.04 crore to 33 clients in January-February, 2025 while savings tools worth Taka 1.53 crore were sold to 32 clients in November-December, 2024.

The five-year family savings certificate was sold Taka 29.47 crore among 587 customers in January and February while Taka 26.14 crore were sold among 489 customers in last November and December.

Interest rates of four savings certificates under the Department of National Savings were from 11.04 percent to 11.76 percent. 

After the upward adjustment of interest rates, investors in savings tools are getting interests ranging from 12.30 percent to 12.55 percent, sources added.

The government introduced the new system for the savings certificates, which has linked to the government's treasury bond interest rates.

The new systems came into effective on January 1, 2025, said Md Muntasir Mamun, Joint Director and focal person of Bangladesh Bank in Khulna. 

The interest rates against the treasury bonds will be reviewed every six months and the savings certificates' interest rates will also be re-fixed, he said.

Besides, in case of re-fixing the interest rates against savings certificates, a premium of at most 50 basis points will be added to the weighted average treasury bond interest rates.

As per the new system, the interest rate for the five-year Bangladesh savings certificate stood at 12.40 percent for investment up to Tk 7.5 lakh. For investment of Tk 7.5 lakh and above, the interest rate is 12.37 percent.

Earlier, a beneficiary gets 11.28 percent interest for up to Tk 15 lakh after the maturity period, 10.30 percent for investments between Tk 15 lakh and Tk 30 lakh, and 9.3 percent for more than Tk 30 lakh.

In the case of the three-monthly profit-bearing Sanchayapatra, a beneficiary gets interest rate from 12.3 percent to 12.25 percent. Under the previous system, the interest rates were 11.04 to 9 percent.

In the case of the family savings certificate, the new interest rates are varying from 12.5 to 12.37 percent while the previous interest rates were 11.5 to 9.5 percent.

Also, the interest rates for the pensioners' scheme have been increased from 12.55 to 12.37 percent under the new system. The previous rate was 11.76 to 9.75 percent.

He, however, said women and up to 65-aged men can buy five-year family certificates, both men and women can buy three monthly profit-bearing Sanchayapatra and five-year Bangladesh savings certificates and only retired government employees can buy pensioners savings certificates.