The government of Bangladesh has issued new regulations that will increase the rates of interest on savings certificates. This should bring some relief to people with fixed incomes faced by surging inflation as they are already dealing with rising prices at stores and higher utility bills each month. Since Jan. 1, 2025, the new interest rates will be between 12.3% and 12.55% for different types of savings programs.
Some of the most popular savings options now available in Bangladesh, such as the Bangladesh Savings Certificate (“Sanchayapatra”) project, Family Savings Certificates and Pensioners’ certificates, will see lower interest rates. The new rates are based on treasury bond yields, thus treating investors more fairly.
To keep in step with the economy, the government will review these rates every half-year and change them if necessary. It is hoped that by doing so the financial pressure will be reduced for pensioners and middle-income families while at the same time more people are attracted to government savings plans.
The news comes as a relief to many families struggling in tough times. It offers a measure of financial assurance for pensioners and others relying on savings to cope with rising living costs. This change, besides helping individuals, builds confidence in government-guaranteed savings plans , providing a stable situation for savers throughout the country in the long term.
Source: Business Inspection BD
