With effect from July 2024, National Savings, formerly Qaumi Bachat Bank, has updated the profit rates on its Special Savings Certificates.
The investment scheme is a well-liked product for small and medium-sized investors, and the revised rates will be in effect for the remaining three years of that term.
The revised policy states that the profit rate will be 15.7% annually for the first five months. The rate for the sixth and last month of the six-month profit period is 16.6% annually.
Additionally, the government has made clearer the Special Savings Certificate tax deduction guidelines. Profits will be withheld by a 15% withholding tax for investors who are active taxpayers.
