Keeping in view the
periodic needs of depositors, this three years' maturity scheme was introduced
in February, 1990. These certificates are available in the denomination of
Rs.500, Rs.1000, Rs.5,000, Rs.10,000, Rs.50,000, Rs.100,000, Rs.500,000 and
Rs.1,000,000. Profit is paid on the completion of each period of six months.
These certificates can
be purchased by a single adult, a minor, two adults in their joint names with
the options of payable to the holders jointly (Joint-A ) or payable to either
(Joint-B). An adult can also purchase these certificates on behalf of a single
minor, two minors jointly or himself/herself and a minor jointly. Institutions may also invest individual funds such as pension, gratuity, superannuation, contributory provident funds and trusts etc.
How To Purchase.
These certificates can be purchased from any National Savings
Centre (NSC), Pakistan Post Office (PPO), Authorized
branches of Scheduled
branches and the offices of State Bank of Pakistan (SBP) by
filling in a prescribed form called SC-1, which is available at all
the above offices of issue free of cost. A copy of the
Computerized National Identity Card (CNIC) or in case of a foreign national, a copy
of the Passport is required to be attached with the application
To download application form in editable Adobe Acrobat format,
please click here.
Mode of Deposit.
These certificates can be purchased by depositing cash at the issuing office or
by presenting a cheque. The certificates shall immediately be issued on
receipt of cash. However, in case of deposit through cheque the certificates
shall be issued from the date of realization of the cheque after receipt of the
What Is The Investment Limit.
The minimum investment limit is Rs.500/-, however, there is no maximum
investment limit in the scheme.
What About Redemption.
These certificates are encashable at par any time after the date of purchase. However, no profit is payable if the
encashment is made before completion of six months.
Further, certificates purchased on or after 15-11-2010 can not be automatically reinvested.
However, other better options are available for investment in National Savings Schemes.
The encashment of certificate(s) may be allowed through a person duly authorized (in writing) by the investor on an authority letter under his / her signature provided that:--
(a). the signatures of the authorized person are attested by the investor on the letter of authority;
(b). the Officer Incharge of the NSC is personally satisfied that the authorized person is genuine and the certificate(s) is / are properly discharged under genuine signatures and both the signatures i.e. on the back of the certificate(s) and the letter of authority tally 100% with the specimen on the investor available on the record.
(C). The receipt of the amount is got acknowledged from the authorized person on the reverse of certificate(s) personally by the Centre Incharge.
What Will I Get As Profit.
At prevailing rates, the profit is paid @ 7.40% p.a. for 1st
five profits and @ 8.80% p.a. for the last profit. However, if the profit is not
withdrawn on due date it will automatically stand reinvested and would be
calculated for further profit on completion of the next 06 months' period.
& Zakat Status.
Exemption of deduction of Withholding tax has been withdrawn w.e.f 01-07-2013 on profit of investment upto Rs.150,000/-. W.e.f. 1st July,2014 the rate of tax to be deducted under Section 151 of Income Tax Ordinance 2001 shall be 10% of the yield or profit for Filers and 15% of the yield or profit paid for Non-Filers. Provided that for a non-filer, if the yield or profit paid is rupees five hundred thousand or less, the rate shall be 10%. Zakat is
collected at source as per rules.