• Special Savings Certificates offer bi-annual returns.
• Profit rates are now 15.6% for the first 5 months.
• Tax deduction is 15% for filers and 30% for non-filers.

Special Savings Certificates are among the popular investment products offered by the National Savings or Qaumi Bachat Bank.

This scheme was introduced to meet the needs of small and medium-sized investors, providing a unique opportunity for bi-annual returns on their investments.

With a tenure of three years, this investment option is available to the general public. Profits are distributed to investors at the end of every six-month period.

The government last updated the profit rates on various products, including Special Savings Certificates, in May earlier this year.

Special Savings Certificates New Profit Rate from August 2024

National Savings has revised the profit rates effective from May 14, 2024, considering various factors.

According to the updated policy, the profit rate for the first five months is set at 15.7 percent, while for the sixth month, it will be 16.6%.

• Profit No 1 to 5: 15.6% per annum
• Profit No 6 (Last): 16.6% per annum

Tax Deduction

The tax deduction rates are as follows:

• Filers: For persons listed in the Active Taxpayer List (ATL), the withholding tax rate is 15% of the yield/profit, regardless of the date of investment and the amount/profit.
• Non-Filers: For persons not listed in the Active Taxpayer List (ATL), the withholding tax rate is 30% of the yield/profit, regardless of the date of investment and the amount/profit.

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