ISLAMABAD – The National Saving Centre offers a reasonable investment option for Pakistanis to cater short term funding needs of the investors with maturity period of 3-months, 6-months and 1-year.
Short Term Saving Certificates (STSCs) is pledge-able and having 3-month, 6-month and 1-year maturity scheme.
All Pakistani Nationals as well as Overseas Pakistanis can purchase STSCs being a single adult, a minor or two adults jointly where the payments can be received either by the both jointly (Joint-A) or any one of the holders (Joint-B). An adult can also purchase STSCs on behalf of a single minor, two minors jointly or as a joint with a minor.
STSC can be purchased from any National Savings Centre (NSC) by filling in the SC-1 (Application form), available free of cost from all NSCs.
The Short Term Savings Certificates denominations are available Rs10,000/-, 50000/-, 100000/-, 500000/-, 1000000/-, 5000000/-, 10000000/.
The minimum investment Limit is Rs. 10,000 while there if no maximum investment limits.
Latest Profit Rate
The three-month certificate carries an annual profit rate of 11.12%, generating an estimated return of Rs2,780 on an investment of Rs100,000.
The six-month option offers an annual rate of 11.50%, with investors receiving Rs5,750 on the same investment.
Meanwhile, the one-year savings certificate provides an annual return of 11.72%, translating into earnings of Rs11,720 on an investment of Rs100,000.
Tax Deduction
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.
However, 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.
The investment made in STSCs is exempted from collection of Zakat.
