National Savings has announced updated profit rates for different savings certificates and accounts in Pakistan, effective from Wednesday (today).
The rates cover regular savings products, special certificates, pensioners’ accounts and Islamic savings schemes.
The revised schedule provides details of how much profit investors can receive based on their investment amount and the type of scheme.
New profit rates for national savings schemes
Special Savings Certificates and Accounts offer an annual profit rate of 12 per cent for the first five payments. Investors receive Rs6,000 every six months on Rs100,000.
The sixth and final payment carries a rate of 12.8 per cent, providing Rs6,400.
Defence Savings Certificates offer cumulative profits ranging from 10 per cent after one year to 215 per cent after ten years.
Regular Income Certificates provide Rs1,010 per month on Rs100,000, equal to an annual rate of 12.12 per cent.
Behbood Savings Certificates, Pensioners’ Benefit Accounts and Shuhada’s Family Welfare Accounts offer an annual rate of 12.96 per cent.
These schemes provide Rs1,080 per month on every Rs100,000 invested.
Behbood certificates are available to eligible senior citizens, widows and people with disabilities.
Pensioners’ accounts support retired government employees, while Shuhada’s accounts serve eligible families of martyrs.
The maximum investment limit for these three schemes is Rs7.5 million.
Short-Term Savings Certificates offer annual rates of 11.12 per cent for three months, 11.50 per cent for six months and 11.72 per cent for one year.
The regular National Savings Account offers an annual rate of 10 per cent.
Islamic savings rates and tax deductions
National Savings has also listed expected profit rates for its Sarwa Islamic schemes.
The Sarwa Islamic Term Account offers expected annual rates of 11.84 per cent for one year, 12.10 per cent for three years and 12.12 per cent for five years.
The Sarwa Islamic Savings Account offers an expected annual rate of 11.84 per cent.
Reportedly, withholding tax is 15 per cent for tax filers and 30 per cent for non-filers where applicable.
Zakat deductions and service charges may also apply under relevant rules.
Investors are advised to check the latest official rates, eligibility conditions and deductions before making an investment.
