New profit rates on Regular Income Certificates for December 2024

KARACHI: The Central Directorate of National Savings (CDNS) has announced a reduction in profit rates for various products, including Regular Income Certificates (RICs), effective December 2024.

Introduced in 1993, the Regular Income Certificates are designed to meet the monthly financial needs of the general public.

These certificates are available in denominations of Rs50,000, Rs100,000, Rs500,000, Rs1,000,000, Rs5,000,000, and Rs10,000,000.

The revised profit rate on Regular Income Certificates is now set at 12.10 percent (pc), down from the previous 12.72pc. This adjustment means that investors will receive a monthly payout of Rs1,010 per Rs100,000 investment, compared to the earlier Rs1,060.

Despite the cut, investments in Regular Income Certificates remain exempt from Zakat deductions, providing a stable and secure investment option for the public.

Earlier on Decemeber 6, the National Savings (Qaumai Bachat) announced reduction in the monthly profit rate on Behbood Savings Certificates, following a decrease in inflation and positive economic indicators in Pakistan.

The rate was cut by 0.24pc on November 4, and there has been no change in December so far.

These certificates are available for purchase at any branch of the Qaumi Bachat Bank across Pakistan.

Behbood Savings Certificates, introduced in 2003, were designed to provide financial relief to widows, the elderly, and those facing financial hardships. They offer a monthly profit at competitive rates, making them a popular investment choice for these groups.

In 2004, the scheme was extended to disabled individuals and special minors with disabilities through their guardians. The certificates are available in denominations ranging from Rs 5,000 to Rs 1 million.

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

Profit is paid monthly, starting from the date of purchase, and investors can make a maximum investment of Rs 7.5 million for a single person or Rs 15 million for joint investors.