ISLAMABAD – National Savings offers various products, including Defence Savings Certificates, to public for investment at attractive profit rate.
All Pakistani nationals as well as overseas Pakistanis can buy these certificates being an adult singly, a minor with guardian and two adults jointly, where the payments can be received either by both jointly or any one of the holders.
The certificates can be purchased by depositing cash or cheque/ draft/ pay-order at any office of the National Savings.
The certificate are issued immediately against cash payment. However, in case of deposit through cheque/ draft/ pay-order, the certificate are issued on the date of realization of the cheque/ draft/ pay-order after receiving the clearance advice.
Investment Limit for Defence Savings Certificates
People can make a minimum investment of Rs500 while there is no maximum investment limits.
Qaumi Bachat Bank Defence Savings Certificates Latest Profit Rates
The profit rates were revised by the government in late February with profit rate for Defence Savings Certificates standing at 14.1 percent.
Investor can get Rs12,000 profit on Rs100,000 investment after completion of the first year while it will be Rs25,000 in second year and Rs40,000 in third year. They can get Rs260,000 profit if the investment is made for 10 years.
Zakat, WHT Deduction
Filers: Persons appearing in Active Tax Payer List (ATL), Rate of Withholding Tax shall be 15% of the yield/profit irrespective of date of investment and amount/profit.
Non-Filers: Persons not appearing in Active Tax Payer List (ATL), Rate of Withholding Tax shall be 30% of the yield/profit irrespective of date of investment and amount/profit.
Zakat shall be deducted at source as per rules.
