Qaumi Bachat Bank: Profit rate October 2024

The Central Directorate of National Savings, also known as Qaumi Bachat Bank reduced the profit rate on a number of certificates, including Regular Income Certificates with effect from October 2024.

To meet the monthly needs of the general people, the government introduced the Regular Income Certificates (RICs) in 1993. These certificates have a five-year maturity duration.

The denominations of the certificates are Rs. 50,000, Rs. 100,000, Rs. 500,000, Rs. 1,000,000, Rs. 5,000,000, and Rs. 10,000,000.

Beginning on the day the certificates are issued, investors receive monthly payments of the profits from the Regular Income Certificates.

Profit on Rs 100,000 certificate

The profit rate on Regular Income Certificates has been lowered to 12.72 percent in accordance with the updated policy. In the past, investors could receive Rs1,220 per month on an investment of Rs100,000 from Qaumi Bachat Bank. However, following the most recent adjustments, the profit has now been reduced.

Zakat Deduction

There is no Zakat Deduction on the investment made in Regular Income Certificates.