- Qaumi Bachat Bank introduces revised profit rates for short-term savings certificates.
- Investors can choose from three-month, six-month, and one-year maturity options.
- Pakistani nationals and overseas Pakistanis can invest individually or jointly in STSCs.
ISLAMABAD: Qaumi Bachat Bank, also known as the National Savings Centre, launched short-term savings certificates (STSCs) in July 2012 to cater to the short-term financing needs of investors.
Recently, on May 14, 2024, the profit rates for these savings certificates were updated.
Investors can choose maturity periods of three months, six months, or one year for their investments in STSCs, which are pledgeable and available under 3-month, 6-month, and 1-year maturity schemes.
These certificates are accessible to all Pakistani nationals and overseas Pakistanis, whether as single adults, minors, or jointly by two adults. Payment can be received jointly (Joint-A) or by any one of the holders (Joint-B).
The minimum deposit for this category is Rs10,000, with no maximum limit.
For short-term savings certificates maturing in three months, the profit rate has been set at 20.20 percent.
Short Term Savings Certificates Profit Rate in June 2024
The profit rate for the six-month maturity category is 19.38 percent, while the one-year maturity option offers a profit rate of 19.24 percent.
These revised profit rates aim to provide attractive returns to investors seeking short-term investment options with Qaumi Bachat Bank’s STSCs.
| Investment Maturity Limit | Profit Rate | Per Rs100,000 profit |
| 3-month | 20.20% | Rs5,070 |
| 6-month | 19.38% | Rs10,150 |
| 1-year | 19.24% | Rs20,340 |
The rate of tax to be deducted shall be as follows:
For filers listed in the Active Taxpayer List (ATL), the withholding tax rate will be 15% of the yield or profit, regardless of the investment date or profit amount.
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For non-filers not listed in the Active Taxpayer List (ATL), the withholding tax rate will be 30% of the yield or profit, regardless of the investment date or profit amount.
Investments in Short-Term Savings Certificates (STSCs) will be exempt from Zakat collection.
