ISLAMABAD – National Savings Centre offers reasonable profit rate on investments in the Defence Savings Certificates (DSC) for the period of ten years.
The Defence Savings Scheme, launched in 1966, is designed to help individuals in Pakistan and abroad grow their savings over time.
The certificates are offered in a variety of denominations, ranging from Rs500 to Rs1,000,000, giving investors the flexibility to start with a small amount or make larger contributions according to their financial goals.
Who Can Invest
The scheme is open to adult Pakistani citizens, overseas Pakistanis, and individuals holding a valid NICOP or POC. Minors can also invest, either independently with a guardian or jointly with adults or other minors.
Joint investments can include two adults or an adult and a minor, and payments from the certificates may be collected by any or all of the named holders.
Defence Savings Certificates can be purchased through any National Savings Centre (NSC), authorized branches of scheduled banks and the State Bank of Pakistan (SBP).
Defence Savings New Profit Rates
The Qaumi Bachat Bank has fixed the profit rate at 11.44 percent. Following are the profits that a person can earn on investment Rs100,000 until 10 years maturity:
First Year: Rs107,000
Second Year: Rs115,000
Third Year: Rs124,000
Fourth Year: Rs135,000
Fifth Year: Rs148,000
Sixth Year: Rs164,000
Seventh Year: Rs183,000
Eighth Year: Rs206,000
Ninth Year: Rs235,000
Tenth Year: Rs270,000
Profit on Rs500,000 Investment
First Year: Rs535,000
Second Year: Rs575,000
Third Year: Rs620,000
Fourth Year: Rs675,000
Fifth Year: Rs740,000
Sixth Year: Rs82,000
Seventh Year: Rs915,000
Eighth Year: Rs1,030,000
Ninth Year: Rs1,175,000
Tenth Year: Rs1,350,000
Taxation on Profit
The taxes and Zakat are deducted on the profits in line with the policy of the State Bank of Pakistan. The withholding tax for filers has been fixed at 15 percent while it is 35 percent for non-fielders.
