• The National Savings has reduced the profit rate on Behbood Savings Certificates in May 2024.
• Behbood Savings Certificates, launched in 2003, provide monthly income to widows and senior citizens.
• The scheme was expanded in 2004 to include disabled people and special minors.

Islamabad – May 2024: The National Savings, also known as Qaumai Bachat Bank, has reduced the profit rate on Behbood Savings Certificates and other savings schemes.

The Behbood Savings Certificates (BSCs), introduced by the government in 2003, are designed to provide a steady monthly income to widows and senior citizens facing financial difficulties. On May 14, the profit rate on these certificates was revised downward from 15.60% to 15.36%.

Initially targeted at widows and the elderly, the scheme was expanded in 2004 to include disabled people and special minors under the care of guardians. The certificates are available in denominations of Rs 5,000, Rs 10,000, Rs 50,000, Rs 100,000, Rs 500,000, and Rs 1,000,000. The profit is disbursed monthly from the date of purchase.

Eligible purchasers include:

• Senior citizens aged 60 or older.
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• Single widows who have not remarried.
• Joint accounts held by two eligible persons as specified above.
• Disabled individuals holding a NIC with a disability logo, and special minors through their guardians.

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Behbood Savings Certificates Profit Rate from May 2024

Investors can start with a minimum investment of Rs 5,000, with the maximum limit set at Rs 7.5 million for individual investors and Rs 15 million for joint investors. The newly set profit rate is 15.36%, translating to Rs 1,280 per Rs 100,000 investment.

Notably, the profit earned on BSCs is exempt from withholding tax and Zakat collection, making it an attractive option for eligible investors seeking tax-free returns.