ISLAMABAD – The National Savings or Qaumi Bachat Bank has launched the Special Savings Certificates to cater the needs and demands of small and medium range investors with a unique investment opportunity of bi-annual returns on their investments.

With a tenure of three years, the investment offer is for the general public. Profit is paid to the investors on the completion of each period of six months.

The government last revised the profit rate on various products, including Special Savings Certificates in May earlier this year.

Special Savings Certificates New Profit Rate

The National Savings last revised profit rates on Special Savings Certificates with effect from May 14, 2024, keeping in the view the various factors. The rates are still applicable as they are yet to be revised.

As per the revised policy, the profit rate for first five months stands at 15.7 percent while it will be 16.6% for the sixth month.

Profit No 1 to 5           15.6% per annum

Profit No 6 (Last)        16.6% per annum

Tax Deduction

The rate of tax to be deducted shall be as follows:

Filers: Persons appearing in Active Tax Payer List (ATL), Rate of Withholding Tax shall be 15% of the yield/profit irrespective of date of investment and amount/profit.

Non-Filers: Persons not appearing in Active Tax Payer List (ATL), Rate of Withholding Tax shall be 30% of the yield/profit irrespective of date of investment and amount/profit.