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Defence Savings Certificates
Yes
Yes
Yes, taxes are applicable on Defence savings Certificate.
- Filers: Persons appearing in Active Tax Payer List (ATL), Rate of Withholding Tax (irrespective of the date of investment and amount) shall be 15% w.e.f. 01-07-2021.
- Non-Filers: Persons not appearing in Active Tax Payer List (ATL), Rate of Withholding Tax (irrespective of the date of investment and amount) shall be 30% w.e.f. 01-07-2021.
Zakat shall be deducted at source as per rules.
For more details see under Product > Certificate > Defence Savings Certificate.
BEHBOOD SAVINGS CERTIFICATES
Widows,Senior citizens and Disables having CNIC with the logo of disability of Pakistani nationals can purchase BSC.
No, at present the widowers cannot invest in BSC.
Maturity period of BSC is 10 years.
BSC is available in the denominations of Rs. 5,000/-, Rs. 10,000/-, Rs. 50,000/-, Rs. 100,000/-, Rs. 500,000/-, Rs. 1,000,000/-.
Profit is paid on monthly basis started from the date of issue of certificates.
Behbood Savings Certificates can be purchased by depositing cash/cheque/ draft/ pay-order at the Issuing Office.
Yes, minimum deposit limit is Rs. 5000/- but maximum limit for single investor is 5 million rupees and as joint investor 10 million rupees.
BSCs can be enchased any time after issuance subject to the deduction of service charges at the following rates:
If the certificates encashed before completion respectively as 1,2,3 and 4 years from the date of purchase then 1%, 0.75%,0.50% and 0.25% service charges of the face value shall be deducted respectively. If encashed after completion of 4 years there will be no service charges.
No
No
No, withholding tax is not collected on the profit earned on Behbood Savings Certificate
BSC are exempted from Zakat.
For more details see under Product > Certificate > Behbood Savings Certificate.
SPECIAL SAVINGS CERTIFICATES
All Pakistani Nationals, Overseas Pakistanis can purchase Special Savings Certificate.
Maturity period of SSC is 03 years.
SSC are available in the denominations of Rs. 500/-, Rs.1000/-, Rs. 5,000/-, Rs. 10,000/-, Rs. 50,000/-, Rs. 100,000/-, Rs. 500,000/-, Rs. 1,000,000/-
Profit is payable on the completion of each period of six months.
SSC can be purchased by depositing cash/cheque/ draft/ pay-order at the Issuing Office.
Yes, minimum deposit limit is Rs. 500/- but no limit in maximum investment.
SSC is 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 and no service charges shall be deducted for the encashment of these certificates.
Yes
Yes
Yes, taxes are applicable on SSC.
- Filers: Persons appearing in Active Tax Payer List (ATL), Rate of Withholding Tax (irrespective of the date of investment and amount) shall be 15% w.e.f. 01-07-2021.
- Non-Filers: Persons not appearing in Active Tax Payer List (ATL), Rate of Withholding Tax (irrespective of the date of investment and amount) shall be 30% w.e.f. 01-07-2021.
Zakat shall be collected at source as per rules.
For more details see under Product > Certificates > Special Savings Certificate.
SHORT TERM SAVINGS CERTIFICATES
All Pakistani Nationals, Overseas Pakistanis can purchase Short Term Saving Certificate.
Maturity period of Short Term Savings Certificates is 03months, 6 months and one year.
Short Term Savings Certificates are available in the denominations of Rs. 10,000/-, Rs. 50,000/-, Rs. 100,000/-, Rs. 500,000/-, Rs. 1,000,000/, Rs. 5,000,000/-, Rs. 10,000,000/-
Profit shall be due on completion of the maturity period.
Short Term Savings Certificates can be purchased by depositing cash/cheque/ draft/ pay-order at the Issuing Office.
Yes, minimum deposit limit is Rs. 10,000/- rupees but no limit in maximum investment.
STSCs shall be encashed at the office of the issue but not earlier than one month from the date of issuance.
Yes
Yes
Yes, taxes are applicable on Short Term Savings Certificates.
- Filers: Persons appearing in Active Tax Payer List (ATL), Rate of Withholding Tax (irrespective of the date of investment and amount) shall be 15% w.e.f. 01-07-2021.
- Non-Filers: Persons not appearing in Active Tax Payer List (ATL), Rate of Withholding Tax (irrespective of the date of investment and amount) shall be 30% w.e.f. 01-07-2021.
The investment made in STSCs shall be exempted from collection of Zakat.
For more details see under Product > Certificate > Short Term Savings Certificates
REGULAR INCOME CERTIFICATES
All Pakistani Nationals, Overseas Pakistanis can purchase Regular Income Certificate.
Maturity period of Regular Income Certificate is 05 years.
RICs are available in the denominations 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 started from the date of issue of certificates.
RIC can be purchased by depositing cash/cheque/ draft/ pay-order at the Issuing Office.
Yes, minimum deposit limit is 50,000 rupees but no limit in maximum investment
RIC can be encashed any time after issuance subject to the deduction of service charges If enchased before completion of 1, 2, 3 and 4 years from the date of issue: then 2 %,1.50%, 1%, and 0.50% service charges of the face value shall be deducted. There will no service charges after the completion of 4 years.
Yes
Yes
Yes, taxes are applicable on RIC.
- Filers: Persons appearing in Active Tax Payer List (ATL), Rate of Withholding Tax (irrespective of the date of investment and amount) shall be 15% w.e.f. 01-07-2021.
- Non-Filers: Persons not appearing in Active Tax Payer List (ATL), Rate of Withholding Tax (irrespective of the date of investment and amount) shall be 30% w.e.f. 01-07-2021.
Any investment made in RIC shall be exempted from compulsory deduction of Zakat at source.
For more details see under Product> Certificates > Regular Income Certificate
Special Savings Account
All Pakistani Nationals, Overseas Pakistanis can open Special Savings Account.
Profit will be paid on successful Completion of Six months.
Special Savings Account can be opened by depositing cash/cheque/ draft/ pay-order at the Issuing Office.
Yes, minimum deposit limit is Rs. 500/- but no limit in maximum investment but Deposits are required to be made in multiples of Rs.500/-
There is no withdraw limit but no profit is payable in case the withdrawals are made before completion of 6 months of such deposit.
No.
Yes, taxes are applicable on Special Savings Account.
- Filers: Persons appearing in Active Tax Payer List (ATL), Rate of Withholding Tax (irrespective of the date of investment and amount) shall be 15% w.e.f. 01-07-2021.
- Non-Filers: Persons not appearing in Active Tax Payer List (ATL), Rate of Withholding Tax (irrespective of the date of investment and amount) shall be 30% w.e.f. 01-07-2021.
The Zakat is collected at source as per rules at the time of withdrawal of principle amount.
For more details see under Product > Account > Special Savings Account
Savings Account
All Pakistani Nationals, Overseas Pakistanis can open Savings Account.
Profit in the Savings Account is credited on 30th June every year and is worked out on the lowest balance of an account between the close of the sixth day and the end of the month.
Savings Account can be opened by depositing cash/cheque/ draft/ pay-order at the Issuing Office.
Yes, minimum deposit limit is Rs. 100/- but no limit in maximum investment.
Only three withdrawals are allowed in a week.
No.
Yes, taxes are applicable on Savings Account.
- Filers: Persons appearing in Active Tax Payer List (ATL), Rate of Withholding Tax (irrespective of the date of investment and amount) shall be 15% w.e.f. 01-07-2021.
- Non-Filers: Persons not appearing in Active Tax Payer List (ATL), Rate of Withholding Tax (irrespective of the date of investment and amount) shall be 30% w.e.f. 01-07-2021.
Zakat is applicable on investment made in Savings Account.
For more details see under Product > Accounts > Savings Account
Pensioner Benefit Account
The pensioners of Federal Government, Provincial Governments, Government of Azad Jammu & Kashmir, Armed Forces, Semi-Government and Autonomous bodies and in case of the death of a pensioner their eligible family member can invest in Pensioners Benefit Account.
Pensioners Benefit Account’s maturity period is 10 years.
Pensioners Benefit Account can be opened by depositing cash/cheque/ draft/ pay-order at the Issuing Office.
Yes, minimum deposit limit is 10,000/- rupees and maximum investment limit is 5,000,000/- An investor can invest only seven subsequent deposits in the account.
- If withdrawn before completion of 01 year from the date of deposit: 1% of the principal amount
- If withdrawn after 01 years but before completion of 02 years from the date of deposit: 0.75% of the principal amount
- If withdrawn after 02 years but before completion of 03 years from the date of deposit: 0.5% of the principal amount
- If withdrawn after 03 years but before completion of 04 years from the date of deposit: 0.25% of the principal amount
- If withdrawn after completion of 04 years from the date of deposit: No Service Charges
In the event of the death of an Account Holder, if the nominee(s) is not an eligible member of the family, he/ she/ they would be entitled to receive the profit at the prevailing rate of Savings Account for a maximum period of three months started from the date of the death of the Account Holder or withdrawal of amount by the nominee whichever is earlier. However, if the nominee is one of the eligible family members, the Account shall be transferred in his/ her name after fulfilling the codal formalities and then s/he shall be entitled to receive/ earn the profit at the rates as was in the case of original holder provided that there is no litigation in court or order issued otherwise from a court of law.
Pensioners Benefit Account is exempted from withholding Tax.
Pensioners Benefit Account is exempted from Zakat.
For more details see under Product > Accounts > Pensioners Benefit Account
Shuhada Family Welfare Account
The Shuhada of Federal Government, Provincial Governments, Government of Azad Jammu & Kashmir, Armed Forces, Semi-Government and Autonomous bodies and in case of the death of a Shuhada their eligible family member can invest in Shuhada Family Welfare Account.
Shuhada Family Welfare Account’s maturity period is 10 years.
Shuhada Family Welfare Account can be opened by depositing cash/cheque/ draft/ pay-order at the Issuing Office.
Yes, minimum deposit limit is 10,000/- rupees and maximum investment limit is 5,000,000/- An investor can invest only seven subsequent deposits in the account.
- If withdrawn before completion of 01 year from the date of deposit: 1% of the principal amount
- If withdrawn after 01 years but before completion of 02 years from the date of deposit: 0.75% of the principal amount
- If withdrawn after 02 years but before completion of 03 years from the date of deposit: 0.5% of the principal amount
- If withdrawn after 03 years but before completion of 04 years from the date of deposit: 0.25% of the principal amount
- If withdrawn after completion of 04 years from the date of deposit: No Service Charges
In the event of the death of an Account Holder, if the nominee(s) is not an eligible member of the family, he/ she/ they would be entitled to receive the profit at the prevailing rate of Savings Account for a maximum period of three months started from the date of the death of the Account Holder or withdrawal of amount by the nominee whichever is earlier. However, if the nominee is one of the eligible family members, the Account shall be transferred in his/ her name after fulfilling the codal formalities and then s/he shall be entitled to receive/ earn the profit at the rates as was in the case of original holder provided that there is no litigation in court or order issued otherwise from a court of law.
Shuhada Family Welfare Account is exempted from withholding Tax.
Shuhada Family Welfare Account is exempted from Zakat.
For more details see under Product > Accounts > Pensioners Benefit Account
National Savings Bonds FAQs
Presently, the Govt. of Pakistan is offering prize bonds having face value:
- 100
- 200
- 750
- 1500
- 25000 (Premium Prize Bonds ) Registered
- 40000 (Premium Prize Bonds) Registered
All prize bonds issued at least 60 days prior to the draw date are entitled for winning a prize.
The Schedule of draw contains Draw No, Place & date of draw.
A prize bond remains valid till the scheme termination.
Maximum time period to avail the prize is six years from the date of draw.
30% for non-filers against the prize money.
15% for filers against the prize amount is deducted at source at the time of payment of prize money.
To claim for your prize, you need to fill in the claim form and submit it along with a copy of your NIC to the State Bank of Pakistan. The claim form is also available at our website for downloading.
60 days prior to a draw, the State Bank and other authorized organization stop selling the prize bonds of that particular denomination. This period of 60 days is called the shut period. Usually prize bonds are traded at open market rates during this time.
You can buy and sell these instruments from any National Savings Centers, State Bank of Pakistan before shut period.
State Bank of Pakistan issues a schedule of draw dates for each year which is available at www.savings.gov.pk full details.
You can get full draw list from www.Savings.gov.pk
The prize money up to Rs. 1,250/- can be claimed from any National Savings Centre, branches of authorized scheduled banks or branches of the State Bank of Pakistan. Prize money exceeding Rs. 1,250/- can be claimed only from the branches of the State Bank of Pakistan.
To claim the prize money, fill the prescribed Form available at
along-with following documents.
- Photocopy of valid CNIC
- Winning prize bond (original)
- Photo copy of the prize-winning bond duly signed by the applicant on back side.
No, there are no charges.
The claim can be lodged usually after 3 or 4 working days from the date of draw and within six years from the date of relevant draw.
Yes, Subject to clearance under rules.
Prize bond draw is held by a committee constituted by Central Directorate of National Savings and open to general public. Winning prize bonds are drawn through Hand operated draw machine, which is usually operated by special children in front of Committee members and general public attending the draw ceremony. Draw machine is also checked by general public before the start of draw.
Yes, general public may also attend the prize bond draw ceremony on production of original CNIC.
No.
One less in one million (999,999)
Prize bonds can be purchased and encashed in any quantity at all field offices of SBP BSC (Bank), office of National Saving Centers, and designated branches of commercial banks.
No, there is no limit.
To present original prize bond at the counters of SBP BSC Offices, Commercial Banks and National Savings Centers and get face value thereof.
Only those prize bonds qualify for prize money, which have been issued two months prior to their respective draw.
The claim can be lodged usually after 4 to 5 working days from the date of draw and within six years from the date of relevant draw.
Claim against prize bond winning in two different draws can be lodged at the same time against two separate claim application by the holder within the period of Six years from the date of its relevant draws.
Big investors invest in huge amounts and buy more prize bonds; therefore their probability of winning prize money is greater than the individual who buys a single prize bond. However, draw is held separately for each prize and small investor can win big prize.
The chances of winning Prize Money is always there but cannot be ensured.
Due to preliminary preparation printing, dispatch of list of prize winning bonds to all concerned NSCs which usually take three to four days.
Prize bond is a bearer instrument. Its ownership belongs to the holder of the instrument just like currency notes.
Premium Prize Bond Registered FAQs
Premium prize bond is newly launched national savings scheme where investor can earn prize money as well as profit.
Presently, only one denomination of Rs. 40,000 and 25000 Premium Prize Bond is in circulation and others are in the pipeline.
Profit rate of premium prize bond is 1.79% bi-annual.
Prize bond registered in the name of investor that’s why called premium Prize bond registered.
Four quarterly prize money draws in a year.
Any adult Pakistani Individual, Overseas Pakistani can buy premium prize bond.
No, application Forms required for claiming prize money, prize money directly credit to investor bank account.
No, application forms required for claiming profit earned from premium prize bond. The profit is directly credit to investor bank account.
Yes, premium prize bond is transferable.
Yes, premium prize bond is pledge able.
No, there is no limit in investment and tenure
Can be purchased through Cash, Cheque, Pay-Order and Bank Draft from offices of the State Bank of Pakistan Banking-Services Corporations (SBP-BSC)
- Copy of CNIC
- Account Maintenance Certificate (A/C title, IBAN Number, status of A/C , Bank & Branch Name)
- Tax Certificate in case of Filer
- CNIC details of the Nominee
are required at the time of premium prize bond purchase.
Senior citizens and female applicants are requested to please contact the Counter Official without waiting for their turn as special.
No, there are two types of form one for individual and second for corporate.
Yes, WHT is applicable on profit as well as prize money.
- (Filers) Persons appearing in ATL , rate of WHT shall be 15%.
- (Non-Filers) Persons not appearing in ATL, rate of WHT shall be 30%.
Premium prize bond is exempted from Zakat
Highest Prize of the premium prize bond of Rs. 40,000/- is Rs. 80 million and for Rs. 25,000/- highest prize is Rs. 30 million.
General FAQs
Yes, the investment made in NSS is fully guaranteed by the Government of Pakistan.
Application Form, available free of cost from all NSCs.
Documents Required along with 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) as issued by NADRA.
Cash/cheque/ bank draft/ pay-order are the standard modes of investments.
The National Savings Schemes provide the facility of joint investment for two persons. There are two different types, i.e. Joint-A and Joint-B. In the case of Joint-A deposits, the encashment is payable to the holders jointly or to either with the written consent of the other. In the case of Joint-B, either of the investors can withdraw/ encash the profit principal under his/ her own signature.
Investment from abroad can be made through Bank Draft/ Cheque in any foreign currency in favor of any of our office(s) along with the Application Form duly filled in and the copies of Passport/ CNIC/NICOP/POC. Clearance period for the Bank Drafts prepared in Pak Rupee from abroad is shorter than that of the ones in foreign currency. It would be more appropriate if it is payable in the same city where the investment is intended to be made.
The investment in the NSS is maintained and expressed in Pak Rupee only. Amount received in foreign currency is converted into Pak Rupee on the prevailing official exchange rate through normal banking channels for investment in National Savings Schemes. Moreover, the principal and profit accrued on a certificate issued against foreign exchange received through remittance shall be payable abroad to the purchaser in foreign exchange, if so desired by the investor. For the purpose, the payable amount shall be converted into the desired currency at the official exchange rate prevailing at the time of conversion/payment.
General FAQs
Nomination is a facility that enables the account(s) / certificate(s) holder(s) to nominate an individual(s), who can claim the proceeds of the account(s) / certificate(s) in case of the death of the original account(s)/certificate(s) holder. The nominee is basically a trustee on behalf of legal heirs of the deceased account(s) / certificate(s) holder who is bound to equally distribute the share to all the legal heirs.
Account(s) / certificates holder(s)at the time of making investment in National Savings Schemes appoints a nominee for their investment and can also specify their respective shares.
In case of an investment in the name of a minor, nomination shall be made by a person lawfully entitled to act on behalf of the minor in respect of account(s)/certificate(s) i.e. the nomination shall be restricted to (a) the father, or (b) the mother, or (c) either parent, or (d) the paternal grand-father, or (e) the legal guardian of the minor.
Specific nomination forms (SC-3) available at all NSCs duly filled in all respected along with an application of account(s) / certificates holder(s) holder(s) on stamp paper is required to change nomination at any later stage.
Request application to the NSC mentioning the complete detail of the investment for which the nominee is applying for along with supporting documents listed below:
- Copy of Death certificate of the original investor issued by municipal authorities / government department.
- Proof of Address & Photo ID of the Legal heirs/ Survivor / Nominee (as the case may be),
- Three specimen signature attested by the Govt. Gazetted Officer (by name stamp).
- Original certificates, Pass Book, Withdrawal Slip, Profit Coupon Book..
- Undertaking on stamp paper to the effect that National Savings would not be a party in case of any dispute arises in the instant payment, if so required by the NSC concerned.
- Family Registration Certificate (FRC) issued by NADRA if the net payable amount does not exceed Rs. 100,000/-
- Succession Certificate issued by court if the net payable amount exceeds Rs. 100,000/-
If the nomination is not contested and subject to complete submission of documents as per the NSCs requirements, the nominee can claim the amount that he has been nominated for. However, in case of any contest or dispute, or another claimant approaching the NSC with any legal documentation, the payment will be made as per succession certificate/ court decision, as the case may be. Further NSC may entertain the legal heirs after completion of certain documents like FRC etc. if the net payable amount is below Rs. 100,000/-. Succession Certificate is mandatory if net payable amount is more than Rs. 100,000/-.
After completing all codal formalities a Government Cheque is issued in the name(s) of legal heirs or their nominee according to succession certificate issued in accordance with the Law. However, in cases, where;
(a) Total net payable amount does not exceed Rs. 100,000/-, payment shall be made to nominee, as mentioned in SC-I or SC-3 form by the purchaser, upon furnishing duly verified attested, copy of Family Registration Certificate (FRC) issued by NADRA along with other documents required and an affidavit, that he/she shall be bound to distribute the received amount among all the legal heirs according to their due share as per law of the land.
(b) Payment shall be made on provision of succession certificate issued in accordance with the law for the time being in force if total net payable amount does exceed Rs. 100,000/-.
General FAQs
Yes, you can get the profit for Savings Account, Pensioners’ Benefit Account & Bahbood Savings Certificates transferred into any scheduled / commercial bank account across Pakistan directly.
You will be given this option at the time of investment, if you wish to avail this option, withdrawal slip book for your account will be stamped with the NSC name and specified code. You will present the withdrawal slip duly filled in all respected and signed of your account at the counter of any commercial bank/scheduled bank in Pakistan to receive your accrued profit.
Yes, for this purpose you will have to get the withdrawal slip book for your account stamped with the NSC Name and specified code from the NSC concerned.
Clearing time for Nation Savings instruments is one day for clearing within city and 3 days for clearing for outstation National Savings Centres.