It is learnt from the report of a national Bangla daily that the sale of savings certificates has come down recently. To increase the sale, the Bureau of National. Savings has sent a proposal to the finance ministry to re-fix annual interest at 11.50 per cent against three years savings certificates and 12 percent against five years saving certificates.
The situation has developed as commercial banks are providing 12 percent interest for one year fixed deposits. The sale of savings certificates, which has gone down will not increase significantly even the proposal is accepted by the ministry. People are conscious nowadays. The proposed increase is less than the prevailing interest given by commercial banks. The government has to offer at least equal interest rates, if not higher, to increase the sale of government savings tools.
The situation has developed as commercial banks are providing 12 percent interest for one year fixed deposits. The sale of savings certificates, which has gone down will not increase significantly even the proposal is accepted by the ministry. People are conscious nowadays. The proposed increase is less than the prevailing interest given by commercial banks. The government has to offer at least equal interest rates, if not higher, to increase the sale of government savings tools.
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