Profit rates on multiple national savings schemes, covering pensioners, senior citizens, and families of martyrs, have been raised by the government. The Central Directorate of National Savings released a schedule stating these updated rates take effect from October 21.
Behbood Savings Certificates, Pensioners Benefit Accounts, and Shuhada Family Welfare Accounts saw their profit rate climb to 12.96 percent from 12.72 percent. For these investments, the monthly profit on Rs100,000 grows to Rs1,080 from the previous Rs1,060.
Regular Income Certificates now yield 12.12 percent instead of 11.76 percent, moving the monthly return on Rs100,000 up to Rs1,010 from Rs980. Special Savings Certificates shift to a rate of 12 percent, moving up from 11.6 percent for the initial five profit payments.
On an investment of Rs100,000, investors obtain Rs6,000 every six months, with the sixth and last payment reaching Rs6,400 based on a rate of 12.8 percent. Defence Savings Certificates display higher cumulative returns across all maturity periods:
- Six years: 88 percent, up from 86 percent
- Seven years: 113 percent, up from 109 percent
- Eight years: 142 percent, up from 136 percent
- Nine years: 176 percent, up from 168 percent
- Ten years: 10 years: 215 percent, up from 205 percent
Upward adjustments also apply to Short Term Savings Certificates. The three-month rate moves to 11.12 percent from 10.80 percent, while extended maturities reach rates up to 11.72 percent.
Sharia-compliant options experience higher returns too. Sarwa Islamic Term Accounts provide between 11.84 percent and 12.12 percent according to maturity, and Sarwa Islamic Savings Accounts move to 11.84 percent from 11.33 percent.
Standard Savings Accounts keep an unchanged profit rate of 10 percent per annum.
Profits face a withholding tax of 15 percent for filers and 30 percent for non-filers according to the official schedule. Zakat deductions occur where rules prescribe them.
