Government employees will get more profit from savings certificates

Government employees have the opportunity to get more profit than savings certificates by depositing money. They will usually get more profit than savings certificates by depositing money in Provident Fund (GPF) and Provident Fund (CPF). Government employees will get a minimum profit of 11 percent and a maximum of 13 percent by depositing money in these two funds.

Yesterday, a notification was issued by the Finance Department of the Ministry of Finance determining the profit rates of GPF and CPF. Those who receive salaries from the government’s revenue sector will keep their money in the general provident fund. And those who receive salaries from outside the revenue sector will keep their money in the provident fund.

The notification says that the GPF profit rate for the fiscal year 2024-25 has been determined in the form of a table according to the percentage. In this case, a total of three percentages have been kept. The profit rates of the three percentages have been determined as 11, 12 and 13 percent. The profit rates and percentages of GPF and CPF were the same in the fiscal year 2023-24 as well.

According to the scheme, if you deposit up to 15 lakh taka, you will get a profit of 13 percent. If you deposit 15 lakh taka to 30 lakh taka, you will get a profit of 12 percent. If you deposit more than that, you will get a profit of 11 percent. Regarding CPF, it is said that since the financial stability of all CPF-affiliated organizations (autonomous organizations, corporations, etc.) is not the same, the organizations will be able to determine the profit rate according to their financial capacity by keeping the GPF profit-based profit rate as high as possible for their employees in light of their own financial regulations.

Meanwhile, the government has recently increased the profit rate of five savings programs run under the National Savings Department. Depending on the type of scheme, the new profit rate has been increased from 12.25 to 12.55 percent. This rate has been effective from January 1 of this year. The five schemes include – Family Savings Certificate, Five-Year Bangladesh Savings Certificate, Three-Monthly Profit-Based Savings Certificate, Pensioner Savings Certificate and Post Office Fixed Deposit.

There are two tiers of investors in savings certificates. The first tier is for investors with less than 7.5 lakh taka. The second tier is for investors with more than that. In family savings certificates, investors with 7.5 lakh taka or less will get a profit of 12.5 percent and investors with more than that will get a profit of 12.37 percent.

In five-year Bangladesh savings certificates, investors with 7.5 lakh taka or less will get a profit of 12.40 percent and investors with more than that will get a profit of 12.37 percent. In three-monthly profit-based savings certificates, investors with 7.5 lakh taka or less will get a profit of 12.30 percent and investors with more than that will get a profit of 12.25 percent. In pensioner savings certificates, investors with 7.5 lakh taka or less will get a profit of 12.55 percent and investors with more than that will get a profit of 12.37 percent. In addition, investors with 7.5 lakh taka or less in post office fixed deposits will get a profit of 12.30 percent and investors with more than that will get a profit of 12.25 percent.

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