The National Savings (Qaumi Bachat Bank) has reduced the profit rate on Special Savings Certificates following a drop in the country’s inflation rate. These certificates were introduced by the Pakistani government to provide small and medium investors with a secure investment option that offers bi-annual returns.

With a three-year investment tenure, the certificates are available to the general public, and investors receive profit every six months. In mid-September, the government revised the profit rates across various products.

Special Savings Certificates Profit Rate (Effective October 2024)

The revised profit rate for the first five periods (30 months) is set at 15.20% per annum, while for the final period (sixth month), the rate will be 16.20%.

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• Profit No. 1 to 5: 15.20% per annum
• Profit No. 6: 16.20% per annum

Tax Deductions

The withholding tax on profits will vary depending on the investor’s tax status:

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• Filers (Active Tax Payer List): 15% of the profit
• Non-Filers: 30% of the profit

These tax rates apply regardless of the investment date or the amount of profit earned. This revised policy provides an updated opportunity for investors seeking secure, mid-term returns.

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