Profit rate on Regular Income Certificates - September 2024

KARACHI: The Central Directorate of National Savings has revised down the profit rate on various certificates, including Regular Income Certificates, following a 200 basis point reduction in the central bank’s policy rate.

The government of Pakistan lowered the profit rates on various certificates, including the Regular Income Certificates (RICs) launched in 1993 and designed to meet the monthly financial needs of the general public with a five-year maturity period.

These certificates are available in denominations ranging from Rs. 50,000, Rs. 100,000, Rs. 500,000, Rs. 1,000,000, Rs.5,000,000 and Rs.10,000,000, with monthly profit payments starting from the date of issue.

Under the revised policy, the profit rate on RICs has been reduced to 14.52% per annum from the previous 14.64%. As a result, the monthly payout on a Rs. 100,000 investment has decreased, impacting returns for investors.

Zakat Deduction

The investment made in Regular Income Certificates is exempted from Zakat Deduction.