Qaumi Bachat Bank latest profit rate on Special Savings Certificates – Sept 2024

The National Savings, also known as Qaumi Bachat Bank, has introduced Special Savings Certificates, offering a unique investment opportunity with bi-annual returns.

Aimed at small and medium-range investors, this initiative provides an attractive option for those seeking regular income over a short period.

With a tenure of three years, this investment is open to the general public, and profits are disbursed at the end of every six months. The last revision of profit rates for these certificates occurred on May 14, 2024, and remains in effect until further notice.

Revised Profit Rates for Special Savings Certificates

According to the revised policy, the profit rate for the first five months is set at 15.7% per annum, while it increases to 16.6% for the sixth month. The breakdown is as follows:

• Profit for Months 1 to 5: 15.7% per annum
• Profit for Month 6: 16.6% per annum

Tax Deductions on Profits

The tax rate on profits varies based on the investor’s tax status:

• Filers: Those listed in the Active Tax Payer List (ATL) are subject to a 15% withholding tax on profits.
• Non-Filers: Individuals not listed in the ATL are charged a 30% withholding tax on profits.

These rates apply regardless of the investment date or amount, making the Special Savings Certificates an attractive option for those seeking competitive returns with a straightforward tax structure.

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