• Qaumi Bachat Bank in Islamabad updates profit rates, including regular income certificates.
• On March 19, 2024, the bank adjusts the profit rate for regular income certificates to 14.76 percent.
• The government introduced Regular Income Certificates (RICs) in February 1993 for monthly public needs.

In Islamabad, National Savings, or Qaumi Bachat Bank, has updated profit rates for different products, including regular income certificates.

On March 19, 2024, the bank adjusted the profit rate for regular income certificates to 14.76 percent.

To cater to the monthly needs of the general public, the government introduced Regular Income Certificates (RICs) with a five-year maturity period in February 1993.

The certificates are offered in denominations of Rs. 50,000, Rs. 100,000, Rs. 500,000, Rs. 1,000,000, Rs. 5,000,000, and Rs. 10,000,000.

Investors receive profit on a monthly basis, starting from the date of the certificate’s issue.

Latest Profit Rate for Regular Income Certificates

Under the revised policy, the profit rate on regular income certificates has been raised to 14.76% per year.

Starting on March 19, 2024, Qaumi Bachat Banks will offer investors Rs 1,230 per month.

[embedpost slug=”/pakistan-resumes-uae-flights-after-weather-clearance/”]

Zakat Deduction

Investments made in regular income certificates are exempt from Zakat deduction.