Qaumi Bachat Bank new profit rate on Defence Savings Certificates [Nov 2024]

The federal government launched the Defence Savings Certificates (DSCs) program to help long-term investors reach their financial objectives.

National Savings has announced a new profit rate for Defence Savings Certificates (DSCs), now set at 12.51% effective November 2024, down from the previous 13.57%.

Despite the lowered rate, DSCs continue to offer a secure and profitable 10-year investment option through Qaumi Bachat Bank, appealing to both Pakistani nationals and overseas Pakistanis.

DSCs are available in denominations ranging from Rs500 to Rs1,000,000, providing various options for investors looking to grow their savings.

For instance, an investment of Rs100,000 will yield approximately Rs8,000 in profit in the first year, reaching Rs325,000 by the end of the tenth year.

National Savings deducts taxes and Zakat on earnings in accordance with State Bank of Pakistan policies, with withholding tax set at 15% for tax filers and 30% for non-filers.

For more information, individuals are encouraged to visit the National Savings or Qaumi Bachat Bank website.