ISLAMABAD: Last month in November 2024, the National Savings or Qaumi Bachat changed the profit rates on Special Savings Certificates, a profitable investment plan.
These certificates were introduced by the government to meet the requirements and desires of small and medium-sized investors by providing them with a special opportunity to invest and get returns on their capital every two years.
The investment offer is open to the general public and has a three-year term. Investors receive their profits at the end of each six months.
Since Pakistani nationals can purchase the certificates for any quantity, there is no upper restriction on the amount they can invest in this category.
As per the revised policy, the profit rate for Special Savings Certificates has been fixed at 11.60 percent for the first five bi-annual profits while it will be 12.60% for the sixth profit.
Profit No 1 to 5 11.60% per bi-annual or Rs5,800 on investment of Rs100,000 each.
Profit No 6 (Last) 12.60% per or Rs6,300 on investment of Rs100,000 each.
According to the regulations, the rate of withholding tax for individuals listed on the Active Tax Payer List (ATL) is 15% of the yield or profit, regardless of the date of investment or the amount of profit.
However, regardless of the date of investment or the amount of profit, non-filers will be required to pay 30% in withholding tax on the profit.
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