Defence Savings Certificates—Qaumi Bachat Bank Updates New Profit Rates

The profit rate for Defence Savings Certificates remained unchanged at 14.39 percent since May 2024

KARACHI: (UrduPoint/UrduPoint / Pakistan Point News-August 3^rd, 2024) The Federal government on Saturday introduced Defence Savings Certificates (DSCs) years ago to offer long-term investors attractive returns.

National Savings or Qaumi Bachat Bank recently updated the latest profit rates for various investment certificates including DSCs

These rates followed recently announced budget for Financial Year 2024-25.

The profit rate for Defence Savings Certificates remained unchanged at 14.39 percent since May 2024.

Tax and Zakat deduction for Defence Savings Certificates

Taxes and Zakat on DSC profits are deducted in accordance with State Bank of Pakistan policies. The withholding tax rate for filers is set at 15 percent, while non-filers are taxed at 30 percent.

The certificates are available to both Pakistani residents and overseas Pakistanis, with a 10-year maturity period. They 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.

Profit Rate for Defence Savings Certificates - August 2024

The profit rate for Defence Savings Certificates is 14.39%. The return schedule based on an investment of Rs100,000 for August is as follows:

1 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: Rs.308,000

10 Years: Rs.363,000