Special Savings Account

Special Savings Account

This investment scheme was launched in February 1990 with a maturity period of three years where the profit is paid on the completion of each period of six months or on completion of three years, as the case may be.

Special Savings Account can be opened by a Pakistani National as well as a Foreign National being an individual in his/ her name or in the name of minor(s) dependent on him/ her or by two individuals jointly in their names. Institutions may also invest employees’ related funds such as pension, gratuity, superannuation, contributory provident funds and trusty funds etc.

Special Savings Account (SSA) can be opened at any National Savings Centre (NSC) or Pakistan Post Office (PPO) by filling in the DA-1 Form, available free of cost from all the above 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)


  • A copy of Form B or Child Registration Certificate (CRC) as issued by NADRA

Institutional Investors

  • An attested copy of NTN Certificate or Institutional Registration Certificate (IRC).

Foreign Nationals

  • A copy of the Passport

The SSA can be opened by depositing cash/cheque/ draft at the issuing office. The Passbook and Withdrawal Slip shall be issued immediately against the cash payment. However, in the case of deposit through cheque the Account shall be opened from the date of realization of the cheque/draft after the receiving of clearance advice.

  • Minimum: Rs.500/-
  • No maximum investment limits
  • Deposits are required to be made in multiples of Rs.500/-

The amount can be withdrawn at any time after the date of deposit. However, no profit is payable in case the withdrawals are made before completion of 6 months of such deposit. Moreover, the amount of withdrawal shall be multiples of Rs 500/- and shall not reduce the balance to less than Rs 500/-.

The rate of tax is deducted as follows:

  • Filers: 10% of the yield/ profit
  • Non-Filers: 17.5% of the yield/ profit; however, the rate shall be 10% if the yield or profit paid is less than Rs. 500,000/-.

Zakat is collected at source as per rules at the time of withdrawal of principle amount. However, it is not collected in case of reinvestment.