ISLAMABAD – Special Savings Certificates are one of the popular products offered by the National Savings or Qaumi Bachat Bank. The scheme was introduced in view 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 revised the profit rate on various products, including Special Savings Certificates in May 2024.

Special Savings Certificates New Profit Rate from July 2024

The National Savings has revised profit rates with effect from May 14, 2024, keeping in the view the various factors.

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

Profit No 1 to 5           15.7% 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.