SHUHDAS FAMILY WELFARE ACCOUNT

Shuhadas Family Welfare Account (SFWA) is offered to benefit the families of Shuhadas of Armed Forces,Law Enforcement agencies and civilians to invest in a way that helps them meet their day-to-day financial needs.

Shuhdas Family Welfare Account can be opened by eligible family member of martyr .

The Shuhdas Family Welfare Account can be opened at any National Savings Centre (NSC) by filling  DA-I (Application Form), available free of cost from all  issuing offices.

Documents Required with the Application Form

Adult Pakistanis

  • A copy of the Computerized National Identity Card (CNIC)

Overseas Pakistanis

  • A copy of National Identity Card for Overseas Pakistanis (NICOP) or Pakistan Origin Card (POC)

Minor

  • A copy of Form B or Child Registration Certificate (CRC) along with CNIC of guardian .

The Shahudas Family Welfare Account can be opened by depositing cash/ cheque/ draft/ pay-order at any National Savings Centre (NSCs) However, in case of deposit through cash, the Account shall be opened immediately on the same date, whereas, in case of deposit through cheque/ draft/ pay-order, the Account shall be opened from the date of the realization of such cheque/ draft/ pay-order after receipt of realization advice.

  • Minimum: Rs.10000/-
  • Maximum investment limit : 5000000/-
  • Only one Account can be opened by an eligible family member.

The account holder may withdraw the principal amount of his account at any time.

Profit shall  be calculated on daily balances maintained in acalender month and shall be payable on or after the first day of next calender month,in accordance with such rate as the Finance Division may notify  in the official Gazette from time to time.

For rates click here.

Tax

Profit on the account shall be exempt from deduction of withholding tax in accordance with the applicable law.

Zakat 

The rules relating to deduction of Zakat  on the Behbood Savings Certificates shall apply to Shuhada Family Welfare Account.