Qaumi Bachat bank profit rate for Special Savings Certificates [July 2024 Update]

LAHORE – Special Savings Certificates (SSCs) scheme was launched by the National Savings or Qaumi Bachat Bank in 1990 keeping in view the needs and demands of small and medium range investors.

The National Savings offers bi-annual returns to people on their investments. Profit is payable on the completion of each period of six months. Currently, the profit rate on this unique scheme stands at 16 percent for first five months and 16.6% for the sixth month.

All Pakistani Nationals as well as Overseas Pakistanis can purchase these certificates being a single adult, a minor or two adults jointly where the payments can be received either by the both jointly (Joint-A) or any one of the holders (Joint-B). An adult can also purchase SSCs on behalf of a single minor, two minors jointly or as a joint with a minor.

The minimum investment limit in this category stands at Rs500 while there is no maximum limit.

Special Savings Certificates New Profit Rate July 2024

The National Savings revised profit rates in May 2024 and they are still effective in July 2024.

As per the revised policy, the profit rate for first five months will be 15.7 percent while it will be 16.6% for the sixth month.

Profit No 1 to 5           16% per annum         Rs8,000 per Rs100,000 (Per 6 months)

Profit No 6 (Last)        16.6% per annum      Rs8,300 per Rs100,000 (Per 6 months)