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Behbood Savings Certificates: Updated Rates for Feb 2024 (Qaumi Bachat Bank)

Behbood Savings Certificates: Updated Rates for Feb 2024 (Qaumi Bachat Bank)

Behbood Savings Certificates: Updated Rates for Feb 2024 (Qaumi Bachat Bank)

Behbood Savings Certificates: Updated Rates for Feb 2024 (Qaumi Bachat Bank)

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Recently, the National Savings, also known as Qaumi Bachat Bank, has made changes to the profit rates for Behbood Savings Certificates. This affects people who depend on this program for financial help.

The government has adjusted these rates for the third time in the past few months. The new rate, set at 15.36%, will come into effect from February 21, 2024.

Behbood Savings Certificates were started in 2003 to help widows and elderly people facing financial difficulties.

Later, in 2004, the scheme was expanded to include disabled individuals and special minors with disabilities under the care of their guardians.

These certificates are available in amounts ranging from Rs5,000 to Rs1,000,000, offering a flexible investment option for eligible citizens. Profit is given out monthly, starting from the purchase date.

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Who Can Purchase Certificates?

Behbood Savings Certificates can be purchased by the following citizens of Pakistan:

(a) Senior citizens aged sixty years or above

(b) Single widows, as long as they do not remarry

(c) Two eligible persons in joint names (as in clause (a) and (b))

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(d) Disabled individuals holding NIC with Disability logo, and special minors through a guardian.

Investment Limit

The minimum investment limit set at Rs5,000, while a single person can make a maximum investment of Rs7.5 million. For joint investors, the limit increased to Rs15 million.

Revised Profit Rate for February 2024

The recent adjustment by the government sees the profit rate on Behbood Savings Certificates reduced to 15.36%, equivalent to Rs1,280 on each Rs100,000 invested, effective from February 21, 2024. This comes after a previous rate of 16.08%, or Rs1340 per Rs100,000, which was applicable until February 20, 2024.

These changes are vital for those considering or already invest in Behbood Savings Certificates, and it recommended to stay informed about such updates for effective financial planning.

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