The Pakistani government launched the Defence Savings Certificates (DSCs) scheme over fifty years ago to meet the financial needs of long-term investors and maximize their savings benefits.
Recently, the National Savings, or Qaumi Bachat Bank, revised the profit rates for various investment certificates, including DSCs, on May 14, 2024. The profit rate for Defence Savings Certificates is now set at 14.39%.
Both Pakistani nationals and overseas Pakistanis can invest in these certificates. They have a maturity period of 10 years and are available in denominations of Rs. 500, Rs. 1,000, Rs. 5,000, Rs. 10,000, Rs. 50,000, Rs. 100,000, Rs. 500,000, and Rs. 1,000,000.
As of July 2024, the profit rate for DSCs is 14.39%. Here is the profit schedule for every Rs. 100,000 invested:
- 1st year: Rs. 112,000
- 2nd year: Rs. 125,000
- 3rd year: Rs. 139,000
- 4th year: Rs. 155,000
- 5th year: Rs. 175,000
- 6th year: Rs. 200,000
- 7th year: Rs. 230,000
- 8th year: Rs. 265,000
- 9th year: Rs. 308,000
- 10th year: Rs. 363,000
Taxes and Zakat are deducted from the profits as per the State Bank of Pakistan’s policy. The withholding tax for filers is 15%, while it is 30% for non-filers.
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