{"id":40976,"date":"2024-06-28T17:35:18","date_gmt":"2024-06-28T12:35:18","guid":{"rendered":"https:\/\/dailyausaf.com\/en\/?p=40976"},"modified":"2024-06-28T17:35:18","modified_gmt":"2024-06-28T12:35:18","slug":"qaumi-bachat-bank-defense-savings-certificates-expected-profit-rate-from-july-2024-details-inside","status":"publish","type":"post","link":"https:\/\/dailyausaf.com\/en\/business\/qaumi-bachat-bank-defense-savings-certificates-expected-profit-rate-from-july-2024-details-inside\/","title":{"rendered":"Qaumi Bachat Bank Defense Savings Certificates expected profit rate from July 2024; Details inside"},"content":{"rendered":"<p>Islamabad: National Savings or Qaumi Bachat Center last revised the profit rate on Defense Savings Certificates in July 2024 is expected to remain same at 14.39%.<\/p>\n<p>As per the details, the<a href=\"https:\/\/dailyausaf.com\/en\/business\/national-savings-new-profit-rates-for-june-2024-details-inside\/\"> Defense Savings Certificates<\/a> (DSCs) scheme was launched by the government in 1966 to meet the financial needs of the long-term category of investors and to provide them with an opportunity to maximize their savings.<\/p>\n<p>On various investment certificates including DSC on May 14, 2024 when it fixed the rate of return at 14.39 percent.<\/p>\n<p>Defense certificates can be purchased by Pakistani citizens and overseas Pakistanis. These certificates have a maturity period of 10 years and come 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.<\/p>\n<h2>Defense Savings Certificates Tax\/Zakat Deduction<\/h2>\n<p>According to the policy of State Bank of Pakistan, tax and zakat are deducted on profits. Withholding tax is fixed at 15% for filers and 30% for non-filers.<\/p>\n<h2>Expected Profit Rate in July 2024<\/h2>\n<p>The profit rate on Defence Savings Certificates in July 2024 is expected to remain same at 14.39%.<\/p>\n<h2>Current Profit Rate for Defense Savings Certificates<\/h2>\n<p>Currently, the rate of return for Defense Savings Certificates is fixed at 14.39 per cent after the latest revision, effective from May 14.<\/p>\n<p><strong>Payable Amount (Principal + Profit ) On Investment of Every Rs.100,000<\/strong><\/p>\n<p>First year\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 Rs112,000<\/p>\n<p>2 Years\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Rs125,000<\/p>\n<p>3 years\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Rs139,000<\/p>\n<p>4 years\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 Rs155,000<\/p>\n<p>5 Years\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 Rs175,000<\/p>\n<p>6 Years\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 Rs200,000<\/p>\n<p>7 Years\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Rs230,000<\/p>\n<p>8 Years\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Rs265,000<\/p>\n<p>9 Years\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Rs308,000<\/p>\n<p>10 Years\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Rs363,000<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Islamabad: National Savings or Qaumi Bachat Center last revised the profit rate on Defense Savings Certificates in July 2024 is expected to remain same at 14.39%. As per the details, the Defense Savings Certificates (DSCs) scheme was launched by the government in 1966 to meet the financial needs of the long-term category of investors and [&hellip;]<\/p>\n","protected":false},"author":8,"featured_media":40977,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[19214,19213],"class_list":["post-40976","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-defense-savings-certificates","tag-qaumi-bachat-center"],"_links":{"self":[{"href":"https:\/\/dailyausaf.com\/en\/wp-json\/wp\/v2\/posts\/40976","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dailyausaf.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dailyausaf.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dailyausaf.com\/en\/wp-json\/wp\/v2\/users\/8"}],"replies":[{"embeddable":true,"href":"https:\/\/dailyausaf.com\/en\/wp-json\/wp\/v2\/comments?post=40976"}],"version-history":[{"count":1,"href":"https:\/\/dailyausaf.com\/en\/wp-json\/wp\/v2\/posts\/40976\/revisions"}],"predecessor-version":[{"id":40978,"href":"https:\/\/dailyausaf.com\/en\/wp-json\/wp\/v2\/posts\/40976\/revisions\/40978"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dailyausaf.com\/en\/wp-json\/wp\/v2\/media\/40977"}],"wp:attachment":[{"href":"https:\/\/dailyausaf.com\/en\/wp-json\/wp\/v2\/media?parent=40976"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dailyausaf.com\/en\/wp-json\/wp\/v2\/categories?post=40976"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dailyausaf.com\/en\/wp-json\/wp\/v2\/tags?post=40976"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}