A complete guide on the national saving certificate in Pakistan in 2023

National saving certificate facilitates Pakistani nationals in managing their future expenses. We will discuss all national saving certificates that are available in 2023. You can compare and choose the best option for your investment.

This blog is about a complete guide on a national saving certificate in Pakistan in 2023

Defense Savings Certificates

In 1966, Pakistan’s Government launched a Defense savings certificate for public borrowing and facilitated investors who wanted to invest in the long term.

This Certificate gives a healthy profit to the investor. The maturity period for this Certificate is ten years.

 The Certificate is available in the following denomination.

 500, 1,000, 5,000, 10,000, 50,000, 100,000, 500,000, and 1,000,000

 Investment Eligibility

• A person who has Pakistan nationality, even if he is overseas, can buy a defense saving certificate
• Single Adult
• Minor, along with his guardian   
• 2 Adults mutually (Certificate issuance authority will ask the investors. Whether they want to receive payment jointly or one of the investor’s Accounts)
• If any Adult wishes to purchase a Defense Saving certificate on behalf of a minor, then he can purchase
• If two minors want to buy jointly, then they can also buy a defense Saving Certificate
• An Adult also purchases Defense Saving Certificate together with a minor

Purchasing procedure

• You can purchase a Defense Saving Certificate by filling out an application form (SC-1) available for free in the Authorized state bank of Pakistan and other bank branches or national saving centers.
• If you are an Adult Pakistani, You will attach a CNIC copy
• For Overseas Pakistanis,s attach a Pakistan origin card or national identity card for an overseas copy
• For minors, attach a child registration form or  B-form

Payment deposit mode

• cash Deposit (You will receive the Certificate at the time of payment)
• Demand draft (The Officer will issue a Certificate when the demand draft is clear)
• Cheque (Officer will issue a certificate when Cheque is clear)
• pay-order (Officer will issue a certificate when the pay-order is clear)

The limit for investment

• The minimum investment is 500, whereas there is no maximum investment limit

Withdraw policy

• You can withdraw your investment whenever you want after purchasing, but you will not get any profit if one year is not complete for your investment

Zakat & Tax

The tax rate for tax return filler is 15% of the profit regardless of profit amount and investment date, while non-tax return filler is 30% of the profit amount regardless of profit amount and investment date.

You will pay Zakat as per the rules at the source.

Amount every year (on 100,000 bases)

You will get the amount as follows

Dead Period

Suppose anyone does not contact the Department after two years of maturity. In that case, it will be considered dead, and the authority will transfer payment to Pakistan’s Govt. simultaneously.

You are studying a complete guide on a national saving certificate in Pakistan in 2023

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Behbood Savings Certificates

The Government of Pakistan launched a Behbood Saving certificate for senior citizens and widows in July 2003, with a maturity period of 10 years. Behbood saving certificates compensate senior citizens and widows for their future necessities.

Behbood Saving Certificate was only available for widows initially. But, in January 2004, authorities included senior citizens in Behbood Saving Certificate. After that, in 2018, the National savings department included the disabled (having CNIC with disabled Logo. ) in this Certificate.

Behbood Certificates launched in denominations of 5,000, 10,000, 50,000, 100,000, 500,000, 1,000,000

You will get a monthly profit, and the payoff will start when you purchase the Behbood Saving certificate.

Investment Eligibility

Behbood Saving Certificate is available for below mentioned Pakistani citizens.

• The  senior citizen having an age equal to sixty years or above the sixty years
• A widow will be eligible only if she will not re-marry
• The above eligible persons  jointly
• Disables (having CNIC with disabled Logo. )
• Guardians can also purchase Behbood Saving Certificate on their special minor

Purchasing procedure

You can purchase Behbood Saving Certificate by filling out an application form (SC-1) from national Saving centers.

For senior citizens: attach your CNIC copy

For overseas Pakistanis: attach your NICOP (National Identity Card for Overseas Pakistanis) copy

For widows: attach your CNIC and husband’s death certificate copy. Moreover, attach stamp paper undertaking attested by Oath Commissioner/Notary Public with his stamp that she did not re-married to the date she purchased a Behbood Saving certificate.

Payment deposit mode

• cash Deposit (the Officer will issue a certificate at the time of payment)
• Demand draft (Officer will issue a certificate when the demand draft is clear)
• Cheque (Officer will issue a certificate when Cheque is clear)
• pay-order (Officer will issue a certificate when the pay-order is clear)

The limit for investment

• The minimum investment is 5,000, whereas for a single investor. The maximum investment limit is Five Million, and the maximum is ten million for joint investors.

Withdraw policy

You can withdraw your investment whenever you want after purchasing, but there will be service charges deduction on following rules

• If not completed in one year, then 1% of the face  value
• Before two years of completion, 0.75% of the face value
• Before three years of completion, 0.5% of the face value
• Before Four years of completion, 0.25% of the face value
• After the completion of the 4th year, there Is no deduction on withdraw

Zakat & Tax

There is no deduction of Withholding tax on the Behbood Saving certificate’s profit, and exempted from Zakat.

Amount monthly (on 100,000 bases)

You will get Rs= 1160 per month.

Dead Period

Suppose anyone does not contact the Department for one year after the last transaction of the profit amount. In that case, it will be considered dead, and Department will transfer payment to Pakistan’s Govt. monthly.

We are discussing a complete guide on a national saving certificate in Pakistan in 2023

Regular Income Certificates

In Feb. 1993, the Pakistani Government launched a regular income certificate for the general public to assist with their monthly expenses. The Certificate has five years of maturity.

Regular income certificate is available in denomination amount of 50,000, 100,000, 500,000, 1,000,000, 5,000,000, 10,00,000

Investment Eligibility

• An adult person who has Pakistan nationality, even if he is overseas, can buy a Regular income certificate
• Single Adult
• Minor, along with his guardian   
• 2 Adults mutually (Certificate issuance authority will ask the investors. Whether they want to receive payment jointly or one of the investor’s Accounts)
• If any Adult wishes to purchase a regular income certificate on behalf of a minor, then he can purchase
• If two minors want to buy jointly, then they can also buy a Regular income certificate
• An Adult also purchases a Regular income certificate together with a minor

Purchasing procedure

• You can purchase a Regular income certificate by filling out an application form (SC-1) available for free in the Authorized state bank of Pakistan and other bank branches or national saving centers.
• If you are an Adult Pakistani, You will attach a CNIC copy
• For Overseas Pakistani, attach a Pakistan origin card or national identity card for an overseas copy
• For minors, attach a child registration form or  B-form

Payment deposit mode

• cash Deposit (The authority will issue the Certificate at the time of payment)
• Demand draft (Officer will issue a certificate when the demand draft is clear)
• Cheque (Officer will issue a certificate when Cheque is clear)
• pay-order (Officer will issue a certificate when the pay-order is clear)

The limit for investment

• The minimum investment is 50,000, whereas there is no maximum investment limit

Withdraw policy

You can withdraw your investment whenever you want after purchasing, but there will be service charges deduction on following rules

• If not completed in one year, then 2% of the face  value
• Before two years of completion, 1.50% of the face value
• Before three years of completion, 1% of the face value
• Before Four years of completion, 0.50% of the face value

After the completion of the 4th year, there Is no deduction on withdraw

Zakat & Tax

The tax rate for tax return filler is 15% of the profit regardless of profit amount and investment date, while non-tax return filler is 30% of the profit amount regardless of profit amount and investment date.

Zakat is not applicable on the regular saving certificate.

Amount monthly (on 100,000 bases)

You will get Rs=1030 per month.

Dead Period

Suppose anyone does not contact the Department for one year after the last transaction of the profit amount. In that case, it will be considered dead, and the authority will transfer the amount to Pakistan’s Govt. after two years from maturity.

Special Savings Certificates

In Feb. 1990, the Pakistani Government launched a special saving certificate for medium and small savers to assist them with their periodic financial expenses. The Certificate has three years of maturity.

A special saving certificate is available in denominations of 500, 1,000, 5,000, 10,000, 50,000, 100,000, 500,000, and 1,000,000.

Investment Eligibility

• An adult person who has Pakistan nationality, even if he is overseas, can buy a special saving certificate
• Single Adult
• Minor, along with his guardian   
• 2 Adults mutually (The certificate issuing authority will confirm from the investors. Whether they want to receive payment jointly or one of the investor’s Accounts)
• If any Adult wishes to purchase a special saving certificate on behalf of a minor, then he can purchase
• If two minors want to buy jointly, then they can also buy a special saving certificate
• An Adult also buy a special saving certificate jointly with a minor

Purchasing procedure

• You can purchase a special saving certificate by filling out an application form (SC-1) available for free in the Authorized state bank of Pakistan and other bank branches or national saving centers.
• If you are an Adult Pakistani, You will attach a CNIC copy
• For Overseas Pakistani, attach a Pakistan origin card or national identity card for an overseas copy

For minors, attach a child registration form or  B-form

Payment deposit mode

• cash Deposit (you will get a certificate at the time of payment)
• Demand draft (you will get a certificate when the demand draft is clear)
• Cheque (you will get a certificate when Cheque is clear)
• pay-order (you will get a certificate when the pay-order is clear)

The limit for investment

The minimum investment is 500, whereas there is no maximum investment limit

Withdraw policy

• You can withdraw your investment whenever you want after purchasing, but you will not get profit if six months are not complete for your investment. Moreover, there is no deduction of service charges on special saving certificates.

Zakat & Tax

• The tax rate for tax return filler is 15% of the profit regardless of profit amount and investment date, while non-tax return filler is 30% of the profit amount regardless of profit amount and investment date.
• You will pay Zakat as per the rules at the source.

Amount bi-annual (on 100,000 bases)

Dead Period

• Suppose anyone does not contact the Department for one year after maturity. In that case, it will be considered dead, and the amount will be transferred to Pakistan’s Govt. after two years from maturity.

Short Term Savings Certificates

In July. 2012, the Pakistani Government launched a Short term saving certificate for investors to assist them with short-term financial expenses.

The Certificate is pledge-able and has one year, six months, and three months of maturity.

A special saving certificate is available in the 10,000, 50,000, 100,000, 500,000, 1,000,000, 5,000,000 and 10,000,000.

Investment Eligibility

• An adult person who has Pakistan nationality, even if he is overseas, can buy a special saving certificate
• Single Adult
• 2 Adults mutually (The certificate issuance officer will confirm from investors. Whether they want to receive payment jointly or one of the investor’s Accounts)
• If any Adult wishes to purchase a short-term saving certificate on behalf of a minor, then he can purchase
• If two minors want to buy jointly, then they can also buy a short-term saving certificate
• An Adult also buy a short-term saving certificate jointly with a minor

Purchasing procedure

You can purchase a short-term saving Certificate by filling out an application form (SC-1) from national Savings centers.

• If you are an Adult Pakistani, You will attach a CNIC copy
• For Overseas Pakistani, attach a Pakistan origin card or national identity card for an overseas copy
• For minors, attach a child registration form or  B-form

Payment deposit mode

• cash Deposit (you will get a certificate at the time of payment)
• Demand draft (you will get a Certificate when the demand draft is clear)
• Cheque (you will get a Certificate when Cheque is clear)
• pay-order (you will get a Certificate when the pay-order is clear)

The limit for investment

The minimum investment is 10,000, whereas there is no maximum investment limit

Withdraw policy

• You can withdraw your investment from the issuance office after the completion of one month. Moreover,  you will get profit after the maturity period completion.

Zakat & Tax

• The tax rate for tax return filler is 15% of the profit regardless of profit amount and investment date, while non-tax return filler is 30% of the profit amount regardless of profit amount and investment date.
• Zakat does not apply to short-term saving certificates.

Amount (on 100,000 bases)

Dead Period

• Suppose anyone does not contact the Department for two years after maturity. In that case, it will be considered dead, and the amount will be transferred to Pakistan’s Govt. after two years from maturity.

This blog discussed a complete guide on a national saving certificate in Pakistan in 2023.