KARACHI – The Central Directorate of National Savings or Qaumi Bachat revised down the profit rate on various products including Regular Income Certificates in early November. These rates are also applicable in December 2024.
The government 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.
Profit on the Regular Income Certificates is paid on monthly basis to the investors starting from the date of issue of certificates.
Profit on Each Rs100,000 Investment in Regular Income Certificates
As per the revised rates announced the profit rate on Regular Income Certificates has been fixed at 12.10 percent as compared to previous 12.72%.
The investors receive Rs1,010 per month in wake of profit as compared to previously offered Rs1,060 per month on each Rs100,000 investment.
Zakat Deduction
The investment made in Regular Income Certificates is exempted from Zakat Deduction.
