ISLAMABAD – The National Savings or Qaumi Bachat Bank has decreased profit rate for various schemes, including Special Savings Certificates, after inflation rate dipped to single digit in Pakistan.

Special Savings Certificates were launched by the government with an aim 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 has revised the profit rate on September 13, decreasing profit on various products.

Special Savings Certificates Latest Profit Rate in September 2024

As per the revised policy, the profit rate for Special Savings Certificates for first five months has been decreased to 15.20 percent while it will be 16.20% for the sixth month.

Profit No 1 to 5           15.20% per annum

Profit No 6 (Last)        16.20% 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.