Regular Income Certificates

Regular Income Certificates

Keeping in view the monthly requirements of the general public, this five years’ maturity scheme was launched on 2nd February, 1993. These certificates are available in the denomination of Rs.50,000, Rs.100,000, Rs.500,000, Rs.1,000,000, Rs.5,000,000 & Rs.10,000,000/=. Profit is paid on monthly basis reckoned from the date of issue of certificates.

These certificates can be purchased by a single adult, a minor or 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.

These certificates can be purchased from any National Savings Centre (NSCs) or from Pakistan Post Office (PPO) 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 may be attached with the application form (SC-I).
To download application form in editable Adobe Acrobat format, please click here.

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 clearance advice.

The minimum investment limit is Rs.50,000/-, however, there is no maximum investment limit in this scheme.

These certificates are enchase able any time subject to deduction of service charges at the following rates:
If enchased before completion of one year from the date of issue. @ 2.00% of the face value
If enchased after one year but before completion of 02 years from the date of issue. @ 1.50% of the face value
If enchased after two years but before completion of 03 years from the date of issue. @ 1.00% of the face value
If encashed after three years but before completion of 04 years from the date of issue. @ 0.50% of the face value
Further, certificates purchased on or after 15-11-2010 cannot 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.

At the prevailing rates monthly profit of Rs.530.00 (including withholding tax) is paid on investment of each Rs.100,000/-. This way the profit rate works to 6.36% p.a. However, the facility of automatic reinvestment of profit to earn further profit is not available in this scheme.The monthly profit, if not drawn on due date shall not earn further profit.

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 17.5% 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%. However, the investment made in this scheme is exempt from collection of Zakat.