Qaumi Bachat Bank Defence Savings Certificates new profit rate (March 2024)

KARACHI: With effect from March 19, 2024, the National Savings or Qaumi Bachat Bank has modified the profit rate on a number of investment certificates.

Defence Savings Certificate profit rates have been maintained at 14.1 percent after three downward revisions in the previous two months.

Both Pakistanis living abroad and natives of Pakistan can obtain Defense Certificates. These certificates are available in amounts 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. They have a ten-year maturity period.

Read More: Qaumi Bachat Bank new profit rate for Behbood Certificates – March 19

Defence Savings Certificates Profit Rate ( March 19, 2024)

The profit rate for Defence Savings Certificates stands unchanged at 14.1% after latest revision, which came into effect from March 19.

Payable Amount (Principal + Profit ) On Investment of Every Rs.100,000

First year            Rs112,000

2 Years                Rs125,000

3 years                Rs139,000

4 years                Rs155,000

5 Years                Rs175,000

6 Years                Rs200,000

7 Years                Rs230,000

8 Years                 Rs265,000

9 Years                 Rs308,000

10 Years               Rs363,000

Defence Savings Certificates Tax/Zakat Deduction

The taxes and Zakat are deducted on the profits in line with the policy of the State Bank of Pakistan.