Q.1         Can I deposit profit cheque into my account with any scheduled bank? If not, then how can I withdraw my profit without coming to the Centre?

Ans:        No. Unlike cheques of banks, the Profit coupons/withdrawal slips of NSS are not negotiable instruments, hence not acceptable by banks. The profit accrued on  BSC only  may, however, be collected through an agent duly authorized by the certificate holder at his/her own risk and subject to the satisfaction of the officer in charge. 

 Q.2         What is the standard procedure for encashment of certificate(s) in case of death of certificate

Ans:        Subject to the rules of the respective schemes, the  nominee may opt for encashment of the certificates or transfer of the same in his/her name, however, in the former case the nominee shall be required to furnish;

a. an application on plain paper containing three specimen signatures of himself/herself duly verified to the satisfaction of the officer in charge.

b. death certificate of the deceased holder.

c.  attested photocopies of CNICs of both the deceased holder and himself.

d.  in case the certificates are intended to be  transferred to nominee, an application on SC-4 supported by relevant documents shall be required in addition to above requirements.

e.   Original Certificates.

 Q.3       Do the revised rates of profit on National Savings Scheme automatically apply to the investment made prior to such revision?

 Ans:        No.

 Q.4        Are new rates automatically made applicable on the existing investments?

Ans:         All National Savings Schemes (NSS) except Savings Account are term/fixed deposits; hence, the agreement made at the time of investment remains valid upto the maturity of that particular deposit.  Any change in profit either upwards or downwards on later issues doesn’t affect the existing investments.  However, if any investor intends to avail new rates, he/she can withdraw the investment and on payment of subject to nominal service charges (if applicable) and then invest the same on new rates.

 Q.5         Can widowers invest in Bahbood Savings Certificates?

Ans:         No, at present the widowers cannot invest in Bahbood Savings Certificates.  However, after attaining 60 years of age, they become automatically eligible being senior citizens.

 Q.6     Who are eligible to invest in Bahbood Savings Certificates?

Ans:        The widows and the senior citizens aged 60 years or above can invest in Bahbood Savings Certificates.

 Q.7         Is investment made in National Savings Schemes secure?

Ans:        Yes, the investment made in National Savings Schemes (NSS) is fully guaranteed by the Government of Pakistan.

 Q.8        What is the difference between Joint-A and Joint-B type investment?

Ans:      The National Savings Schemes provide the facility of joint investment upto two persons.  There are two different types i.e. Joint-A and Joint-B.  In case of Joint-A deposits, the encashment is given only after having the signatures of both the investors; while in case of Joint-B, either of the investors can withdraw/encash the principal under his/her own signatures only.



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