Savings Certificates Sales Hit Severe Slump

Staff Correspondent | April 26, 2025

People have been cashing out savings certificates more during the fifth month of the current 2024-25 fiscal year from November to January. This trend has continued over the past few months. As a result, there is an extreme downturn in savings certificates sales. This information has been known from the latest updated report of Bangladesh Bank recently.

According to the central bank’s report, savings certificates sales remained in negative territory even in seven months (July-January) of 2024-25 fiscal year. During these 7 months, Tk 7,013 crore more had to be repaid in previous principal-interest than sales. Even in the same period of 2023-24 fiscal year, savings certificates sales were negative. At that time, Tk 7,350 crore more had to be paid in previous principal-interest than sales.

Net sales of savings certificates were in negative trend during 12 months (July-June) of last fiscal year. That is, in 12 months of 2023-24 fiscal year, Tk 21,124 crore 38 lakh more had to be repaid in previous interest-principal than sales.

The government has set a target of borrowing Tk 15,400 crore from savings certificates in 2024-25 fiscal year. Earlier, in last 2023-24 fiscal year, the target was set at Tk 18,000 crore for government’s net borrowing through savings certificates sales. But the government didn’t get a single taka as loan from here.

According to central bank’s report, savings certificates sales in January, the seventh month of current 2024-25 fiscal year, remained in negative trend at Tk 4,768 crore.

That means, in January, Tk 4,768 crore more had to be repaid in previous principal-interest than sales. Even in same period of 2023-24 fiscal year, savings certificates sales were negative. At that time, Tk 1,287 crore more had to be repaid in previous principal-interest than sales.

Data shows that savings certificates sales were in negative trend even in December, the sixth month of current fiscal year. In this month, Tk 3,921 crore more had to be repaid in previous principal-interest than sales.

According to the report, savings certificates sales were in negative trend even in November, the fifth month of fiscal year. In that month, Tk 3,430 crore more had to be repaid in previous principal-interest than sales.