The common man deposits the most money in banks. Then he invests in savings certificates in the hope of security and higher profits; but despite the high interest rates, people have reduced the purchase of savings certificates. Even the tendency to redeem savings certificates has increased. Customers redeemed savings certificates worth Tk 25,695 crore in the three months from October to December. On the other hand, the rate of purchase of savings certificates has decreased by 27 percent in the first half of the current 2024-25 fiscal year.

Economists and bankers believe that there are several reasons behind the decline in savings certificate sales and the increase in the rate of cancellation. They say that people’s expenses have increased due to high inflation. Income is not increasing at that rate. That is why many are being forced to cancel savings certificates. Again, many banks are unable to pay customers. Many customers are canceling savings certificates due to this lack of trust. On the other hand, after the change of government, many are not interested in keeping money in savings certificates due to steps such as freezing and suspending bank accounts.

The government is in a financial crisis. The revenue collection of the National Board of Revenue (NBR) is also not going as expected. Foreign financing is also not coming in the way. In such a situation, savings certificates are an important source of funding. If the sales of savings certificates decrease and the rate of cancellation increases, it will have a negative impact. The budget may have to be cut in the middle of the fiscal year. The Annual Development Program (ADP) may decrease further.