National Savings or Qaumi Bachat Bank updated profit rates – March 2024

• The National Savings Bank has updated the interest rate.
• The interest rate on Defence Savings Certificates remains at 14.1 percent.
• The taxes and Zakat are deducted on the profits.

The National Savings or Qaumi Bachat Bank has updated the interest rate on various investment certificates effective from March 19, 2024.

The interest rate on Defence Savings Certificates remains at 14.1 percent, despite being reduced three times in the past two months.

Defence Certificates are available for purchase by Pakistani citizens and expatriates. These certificates have a ten-year maturity period and are available in denominations of Rs.500, Rs.1,000, Rs.5,000, Rs.10,000, Rs.50,000, Rs.100,000, Rs.500,000, and Rs.1,000,000.

Defence Savings Certificates Profit Rate From March 19, 2024

The interest rate for Defence Savings Certificates remains at 14.1% following the most recent adjustment, which took effect from March 19.

Payable Amount (Principal + Profit ) On Investment of Every Rs.100,000

First year            Rs112,000

2 Years                Rs125,000

3 years                Rs139,000

4 years                Rs155,000

5 Years                Rs175,000

6 Years                Rs200,000

7 Years                Rs230,000

8 Years                 Rs265,000

9 Years                 Rs308,000

10 Years               Rs363,000

Defence Savings Certificates Tax/Zakat Deduction

The taxes and Zakat are deducted on the profits in line with the policy of the State Bank of Pakistan.

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