Profit rate on Regular Income Certificates – September 2024

The Central Directorate of National Savings has announced a reduction in the profit rates for various saving schemes, including the Regular Income Certificates (RICs). This change follows a 200 basis points cut in the central bank’s policy rate.

The RICs, introduced in 1993, provide a fixed monthly income to investors over a five-year maturity period. These certificates are available in denominations ranging from Rs. 50,000 to Rs. 10,000,000 and are designed to meet the public’s need for regular income.

Revised Profit Rate and Impact

Under the revised rates, the annual profit on regular income certificates decreased from 14.64% to 14.52%. Previously, investors received Rs. 1,220 per month on an investment of Rs. 100,000, but this amount will now be reduced slightly in line with the new rate.

Zakat Deduction

One of the advantages of investing in RICs is that they are exempt from Zakat deductions. The profit is paid monthly, starting from the date the certificate is issued, offering a consistent return over the investment period.

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