KARACHI: In a move to provide maximum benefit to the long term investors, the Government of Pakistan launched the Defence Savings Certificates (DSCs) decades ago.
However, recently, the National Savings or Qaumi Bachat Bank announced updated profit rate of various investment certificates, incuding DSCs, after the budget 2024-25 in May.
The profit rate on Defence Savings Certificates remains fixed at 14.39 percent and has not been revised since May 2024.
Both Pakistani nationals and overseas Pakistanis are eligible to invest in these certificates, which have a maturity period of 10 years 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 August 2024
The profit rate for Defence Savings Certificates stands at 14.39% for the month of August. Following is the profit schedule:
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.
The withholding tax for filers has been fixed at 15 percent while it is 30 percent for non-fielders.
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