Karachi, 11 November 2026: The SBP policy rate (State Bank of Pakistan) now stands at 12%, after the Monetary Policy Committee raised it by 50 basis points on 26 October 2026, effective 27 October. It was the first increase since June 2026; nine of ten committee members voted for it.
Why did SBP raise the rate?
The Governor pointed to inflation risks from high energy prices, with oil staying above $100 a barrel amid the Middle East conflict. Earlier, in September, the rate had been held at 11.5% after headline inflation rose to 11.1% in August.
Effect on your savings
- Bank savings accounts: The minimum profit rate on conventional savings accounts is linked to the policy rate (minimum is policy rate minus 1.5%), so profit rates should move up, usually from the next profit period.
- Term deposits and T-bills: KIBOR is already above 12%, and six-month T-bill yields are around 12.5%.
- National Savings: CDNS often revises its rates after SBP decisions. Watch for new rates on Defence Savings, Regular Income and Behbood certificates.
Effect on loans
Car and home loans linked to KIBOR become more expensive. If you have a floating-rate car loan, expect a higher instalment at the next reset.
Compare current rates in our Bank Profit Rates 2026 guide and estimate your return with the Bank Profit Calculator. See also National Savings Certificates.
Check your numbers: bank profit calculator · bank profit rates in Pakistan · National Savings profit rates · car loan interest rates
FAQs (Roman Urdu)
Policy rate abhi kitna hai?
12%, 27 October 2026 se.
Kya bank ka munafa barhega?
Haan, aam taur par savings account ka rate policy rate ke saath barhta hai.
Sources: Business Recorder, The News, SBP.