ISLAMABAD – The government launched the Short Term Savings Certificates (STSCs) 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 latest Profit Rate from Sept 2024
The Central Directorate of National Savings revised the profit rate on September 13, fixing the profit rate for three-month maturity at 18,52% as compared to previous 19%.
The profit rate for six-month maturity category has been fixed at 18.22% as compared to previous 18.92%.
Similarly, the Qaumi Bachat Bank has revised down the profit rate for one-year maturity to 17.22% as compared to previous 17.9%
Tax Deduction on 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.
