The interim government on Wednesday introduced dual rates for the interest payment of the national savings certificates, said Finance Division officials, adding that the rates took effect from January 1.
The holders of NSCs worth up to Tk聽7.5 lakh will get interest rate to be set by the Finance Division every six months.
Those who have savings certificates worth more than Tk聽7.5 lakh will receive monthly interest rate similar to that of the government treasury bills and bonds.
The officials said that the savings certificate holders having investment of more than Tk聽7.5 lakh would get lower interest rate compared with the group having investment up to Tk聽7.5 lakh.
About 80 per cent of the NSC holders in the country has the savings tools worth more than Tk聽7.5 lakh, they said.
The dual interest rates of the Poribar Sanchayapatra have been set at 12.4 per cent and 12.37 per cent, according a circular issued by the Internal Resources Division on the day.
The decision of introducing the dual rates has been made to overcome problems the Finance Division is facing in borrowing from the savings certificates and treasury bills.
As the rates vary between savings certificates and treasury bills, the Finance Division cannot maintain its borrowing targets from the sources that is affecting fiscal discipline, said the Finance Division officials.
In the current 2024-25 financial year, Tk聽15,400 crore has been projected to be borrowed from the national savings certificates and Tk聽1,37,500 crore from the baking system through bills and bonds.
A Finance Division鈥檚 quarterly update on the government鈥檚 debts said that Tk聽46,259 crore was spent to clear interest payments against borrowing from the savings certificates in FY24, which was 3 per cent higher than the amount in FY23.
It also said that Tk 41,717 crore was spent to clear interest payment against the borrowing from banks in FY24 with a 48-per cent rise.