Special Savings Certificates profit rate revised for December 2024

ISLAMABAD: The National Savings, also known as Qaumi Bachat, has updated the profit rates for Special Savings Certificates in November 2024. These certificates are a popular investment option designed for small and medium investors, offering a secure way to earn regular returns.

Special Savings Certificates are a three-year investment plan that pays profit every six months. This scheme is open to the general public and allows investors to put in any amount as there is no maximum limit on investment.

Special Savings Certificates profit rates for December 2024

The updated profit rates for the first five six-month periods is 11.60percent profit, which means Rs5,800 will be paid for every Rs100,000 invested.

For the sixth and final period, 12.60percent profit, resulting in Rs6,300 for every Rs100,000 invested.

Tax on Profit

For Active Taxpayers (ATL) a 15percent withholding tax will be deducted from the profit. While, non-filers will pay a higher tax rate of 30% on their profit.

This scheme offers a reliable option for those looking to invest and earn bi-annual returns, making it a suitable choice for individuals seeking steady income from their savings.

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

The rate was cut by 0.24 percent (pc) 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.

New profit rate for Behbood Savings Certificates:

As of December 2024, the profit rate on Behbood Savings Certificates is set at 13.92pc, offering Rs 1,160 per month for each Rs 100,000 invested.

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.