They condemn the move as a ‘blow to press freedom’
Interest on previously-bought saving certificates to remain unchanged
The government’s decision to cut interest on saving certificates will not apply to earlier purchases.
Published : 25 May 2015, 05:58 PM
Updated : 25 May 2015, 05:58 PM
The Directorate of National Savings (DNS) dispelled doubts in a circular on Saturday.
It said those holding savings certificates from before the issuance of the circular would get the same rates of interest.
The government had earlier reduced interest on saving certificates to ease its debt burden.
The interest was decreased from 13.26 percent to 11.19 percent for the five-year Bangladesh Savings Certificate, from 13.19 percent to 11.76 percent for five-year Pensioners Certificates, from 13.24 percent to 11.28 percent for the three-year for Postal Savings Certificates, from 13.19 percent to 11.28 percent for Bangladesh Savings Certificate, and from 12.59 percent to 11.04 percent for three-year savings certificates with tri-monthly returns.
The interest on wage earners’ development bonds was kept unchanged to encourage remittance.
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