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Qaumi Bachat Bank revises profit rate for regular income certificates

05:34 PM | 21 May, 2024
Qaumi bachat bank regular income certificate

ISLAMABAD – The National Savings, also known as Qaumi Bachat Bank, has recently updated the profit rates for its various products, including the Regular Income Certificates (RICs). As of May 14, 2024, the new profit rate for RICs is set at 14.64 percent per annum.

The Regular Income Certificates, introduced by the government in February 1993, are designed to meet the monthly financial needs of the general public. These certificates have a maturity period of five years and are available in denominations of Rs. 50,000, Rs. 100,000, Rs. 500,000, Rs. 1,000,000, Rs. 5,000,000, and Rs. 10,000,000.

Investors receive their profit payments on a monthly basis, starting from the date of issue of the certificates. With the revised profit rate, investors will now earn Rs. 1,220 per month for every Rs. 100,000 invested, effective from May 14, 2024.

Additionally, the investment in Regular Income Certificates is exempt from Zakat deduction, providing further financial benefits to the investors.

This revision aims to provide better returns to investors, making the Regular Income Certificates an attractive option for those looking for steady monthly income.

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Currency Rates in Pakistan - PKR to US Dollar, Euro, Dirham, Riyal 18 June 2024

Pakistani rupee rates against US Dollar and other currencies on June 18, 2024 (Tuesday) in open market.

USD to PKR Rate Today

US dollar was being quoted at 277.50 for buying and 280.65 for selling.

Euro's buying rate stands at 296 and selling rate is 299 while British Pound rate is 349.7 for buying, and 353.25 for selling.

UAE Dirham AED was at 74.80 and Saudi Riyal at 72.80.

Currency Symbol Buying Selling
US Dollar USD 277.50 280.65
Euro EUR 296.00 299.00
UK Pound Sterling GBP 349.70 353.25
U.A.E Dirham AED 74.80 75.60
Saudi Riyal SAR 72.80 73.55
Australian Dollar AUD 182.00 184.00
Bahrain Dinar BHD 741.18 749.18
Canadian Dollar CAD 204.00 206.00
China Yuan CNY 38.43 38.83
Danish Krone DKK 40.18 40.58
Hong Kong Dollar HKD 35.66 36.01
Indian Rupee INR 3.33 3.44
Japanese Yen JPY 1.90 1.98
Kuwaiti Dinar KWD 909.34 909.34
Malaysian Ringgit MYR 59.30 59.90
New Zealand Dollar NZD 170.79 172.79
Norwegians Krone NOK 25.97 26.27
Omani Riyal OMR 723.88 731.88
Qatari Riyal QAR 76.42 77.12
Singapore Dollar SGD 203.65 205.65
Swedish Korona SEK 26.40 26.70
Swiss Franc CHF 311.90 314.40
Thai Bhat THB 7.58 7.73

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