Behbood Savings Certificates: Qaumi Bachat revises profit rate; Nov 2024

The National Savings also known as Qaumi Bachat revised Behbood Savings Certificates (BSCs) profit rate downward amid declining inflation and upbeat economic signs.

The decrease came in due to the decrease in inflation and positive indicators.

The profit rate on the investment certificates was decreased by 0.24 percent, with effect from November 4, 2024, meaning that the investors will get less profit starting from the running month.

People can buy the Qaumi Bachat’s Behbood Savings Certificates from any nearby branch of the Qaumi Bachat Bank across Pakistan.

Launched in 2003, Behbood Savings Certificates are a financial scheme tailored to the needs of widows, senior citizens, and disabled persons

Initially designed for widows and the elderly in 2003, the scheme was extended to disabled persons and special minors with disability (through guardians) in 2004.

Offering investment options from Rs. 5,000 to a maximum of 75 lakhs, BSCs provide a secure and profitable way to save. Investors benefit from monthly profit payments directly credited to their linked savings account.

The Certificates have specified investment limits, with individuals allowed to invest up to Rs 7.5 million and joint investors up to Rs 15 million.

As of November 2024, the government fixed the profit rates on Behbood Savings Certificates at 13.92 percent per annum. This translated to a monthly profit of Rs 1,160 on every Rs 100,000 (1 lakh) invested, providing a stable and attractive return for eligible investors.

For added convenience, Behbood Savings Certificates holders can access their funds through an ATM debit card and enjoy the complimentary service of a chequebook and ATM. Importantly, the certificates are exempt from Zakat, making them an attractive choice for eligible individuals.