ISLAMABAD – The Central Directorate of National Savings (CDNS) has once again decreased the profit rate for Short Term Savings Certificates with effect from December 10, 2024, owing to declining inflation in the country.
The federal government launched the Short Term Savings Certificates (STSCs) investment program in 2012 which is designed specifically to meet the short term funding needs of the investors with maturity period of 3-months, 6-months & 1-year.
It is pledge-able and having 3-month, 6-month and 1-year maturity scheme and all Pakistani nationals as well as Overseas Pakistanis can make investment in it.
An investor can deposit minimum Rs10,000 in this category while there is no maximum limit.
Short Term Savings Certificates Profit Rate from December
The Qaumi Bachat Bank has fixed the profit rate for three-month maturity at 12.76 percent or Rs3,190 on investment of each Rs100,000 as compared to previous 14.32% or Rs3,580.
The profit rate for six-month maturity category has been fixed at 12.74% or Rs6,370 as compared to previous 13.46% or Rs6,730. However, the profit from 12-month maturity has been fixed at Rs12,380 or 12.38% with effect from December 10.
Tax Deduction on STSC Profit Rate
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.
