ISLAMABAD – The government of Pakistan launched the Regular Income Certificates (RICs) with a maturity period of five years in 1993 to cater the monthly requirements of the general public.
The certificates are available in the denominations of Rs. 50,000, Rs. 100,000, Rs. 500,000, Rs. 1,000,000, Rs.5,000,000 and Rs.10,000,000.
National Savings or Qaumi Bachat Bank revised the profit rates of various products, including the Regular Income Certificates, in May this year.
The bank recently revised the Regular Income Certificate’s profit rate on May 14, 2024, fixing the new rate at 14.64 percent or Rs1,220 per Rs100,000 investment.
Profit is paid on monthly basis to the investors starting from the date of issue of certificates.
Per Month Profit Rate for Regular Income Certificates in August 2024
As per the revised policy, the profit rate on Regular Income Certificates has been increased to 14.64% per annum.
The Qaumi Bachat Bank offers Rs1,220 per month to the investors, with effect from May 14, 2024.
Zakat Deduction
The investment made in Regular Income Certificates is exempted from Zakat Deduction.
