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National Savings Bank’s Latest Profit Rate on Special Savings Certificates from May 2024

National Savings Bank’s Latest Profit Rate on Special Savings Certificates from May 2024

National Savings Bank’s Latest Profit Rate on Special Savings Certificates from May 2024

National Savings Bank’s Latest Profit Rate on Special Savings Certificates from May 2024

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  • The National Savings Bank reduced its profit rates for savings schemes.
  • Investors under this scheme receive profit payments every six months.
  • The profit rate for the first five months is 15.7%, and it increases to 16.6% for the sixth month.
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The National Savings Bank, also known as ‘Qaumi Bachat Bank,’ has announced a reduction in profit rates for its various savings schemes, effective May 14, 2024.

It offers a variety of products to the public, including defense savings certificates, special savings certificates, behbood savings certificates, and short-term savings certificates.

National Savings. This scheme was introduced to meet the needs and demands of small and medium-range investors, providing a unique investment opportunity with bi-annual returns.

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With a three-year tenure, this investment is available to the general public. Investors receive profit payments every six months.

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Special Savings Certificates: New Profit Rate from May 2024

The National Savings has revised its profit rates effective May 14, 2024, considering various factors.

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

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Profit No. 1 to 5: 15.7% per annum

Profit No. 6 (Last): 16.6% per annum

Tax Deduction

The rate of tax to be deducted shall be as follows:

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Filers, those listed in the Active Tax Payer List (ATL), will have a 15% withholding tax rate on their earnings or profits, regardless of when they invested or the amount or profit earned.

For non-filers, individuals not listed in the Active Tax Payer List (ATL), the withholding tax rate on their earnings or profits will be 30%, regardless of when they invested or the amount or profit earned.

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