ISLAMABAD: The federal government has revised upwardly the rates of profit on National Saving Schemes (NSS) instruments with effect from 1st July 2012. Updated profit rates effective from July 2012 are as under;
Profit rates effective from 1st January 2013;
These profit rates would be applicable on investment to be made in these schemes during next three months
| SCHEME | OLD RATE | NEW RATE |
| Special Saving Certificates | 9.90% | 9.70% |
| Regular Income Certificates | 10.56% | 10.36% |
| Behbood Saving Certificates | 12.96% | 12.72% |
| Pensioner Benefit Account | 12.96% | 12.72% |
| Defence Saving Certificates | 11.04% | 10.84% |
| Saving Account | 6.85% | 6.65% |
PROFIT RATES – DEFENSE SAVING CERTIFICATES (DSC)
Historical Rates Remained Applicable On Defense Savings Certificates From 25th
November, 1993 Onwards
| Effective Period | Rate | Payable Amount (Principal + Profit ) On Investment of Every Rs.100,000/- On Completion Of | ||||||||||
| From | To | (% p.a.) | 1st Year | 2 Years | 3 Years | 4 Years | 5 Years | 6Years | 7 Years | 8 Years | 9 Years | 10 Years |
| 25-Nov-93 | 12-Nov-96 | 16.00% | 113,000 | 128,000 | 147,000 | 170,000 | 198,000 | 232,000 | 272,000 | 319,000 | 375,000 | 441,000 |
| 13-Nov-96 | 13-May-99 | 18.04% | 114,500 | 132,000 | 153,000 | 178,000 | 208,000 | 246,000 | 294,000 | 354,000 | 429,000 | 525,000 |
| 14-May-99 | 31-Dec-99 | 15.97% | 112,000 | 130,000 | 150,000 | 172,000 | 200,000 | 232,000 | 270,000 | 316,000 | 380,000 | 440,000 |
| 01-Jan-00 | 30-May-00 | 15.01% | 111,000 | 128,000 | 146,000 | 166,000 | 192,000 | 221,000 | 253,000 | 295,000 | 352,000 | 405,000 |
| 31-May-00 | 30-Jun-00 | 14.01% | 109,000 | 121,000 | 138,000 | 157,000 | 184,000 | 210,000 | 238,000 | 275,000 | 322,000 | 371,000 |
| 01-Jul-01 | 31-Dec-01 | 15.01% | 110,000 | 123,000 | 142,000 | 162,000 | 192,000 | 221,000 | 254,000 | 295,000 | 348,000 | 405,000 |
| 01-Jan-02 | 30-Jun-02 | 14.13% | 109,000 | 121,000 | 138,000 | 157,000 | 184,000 | 210,000 | 238,000 | 275,000 | 322,000 | 375,000 |
| 01-Jul-02 | 31-Dec-02 | 11.61% | 107,000 | 115,000 | 124,000 | 135,000 | 149,000 | 165,000 | 186,000 | 210,000 | 250,000 | 300,000 |
| 01-Jan-03 | 30-Jun-03 | 10.03% | 106,000 | 113,000 | 121,000 | 130,000 | 140,000 | 154,000 | 171,000 | 192,000 | 222,000 | 260,000 |
| 01-Jul-03 | 31-Dec-03 | 8.50% | 105,000 | 111,000 | 118,000 | 126,000 | 135,000 | 145,000 | 157,000 | 174,000 | 197,000 | 226,000 |
| 01-Jan-04 | 21-Jun-04 | 7.96% | 104,000 | 109,000 | 114,000 | 120,000 | 127,000 | 138,000 | 150,000 | 165,000 | 188,000 | 215,000 |
| 22-Jun-04 | 30-Jun-04 | 8.15% | 104,000 | 109,000 | 114,000 | 120,000 | 127,000 | 138,000 | 150,000 | 165,000 | 188,000 | 215,000 |
| 01-Jul-04 | 30-Jun-05 | 8.20% | 104,000 | 109,000 | 115,000 | 120,000 | 130,000 | 139,000 | 150,000 | 166,000 | 189,000 | 219,000 |
| 01-Jul-05 | 05-Jun-06 | 9.46% | 105,000 | 112,000 | 119,000 | 128,000 | 138,000 | 150,000 | 163,000 | 183,000 | 211,000 | 247,000 |
| 05-Jun-06 | 22-Jun-07 | 10.03% | 106,000 | 113,000 | 121,000 | 130,000 | 140,000 | 154,000 | 171,000 | 192,000 | 222,000 | 260,000 |
| 23-Jun-07 | 23-Jun-08 | 10.15% | 107,000 | 116,000 | 126,000 | 138,000 | 151,000 | 166,000 | 184,000 | 206,000 | 232,000 | 263,000 |
| 24-Jun-08 | 30-Sep-10 | 12.15% | 108,000 | 118,000 | 129,000 | 142,000 | 158,000 | 177,000 | 201,000 | 230,000 | 265,000 | 315,000 |
| 01-Oct-10 | 31-Dec-10 | 12.60% | 108,000 | 117,000 | 128,000 | 140,000 | 158,000 | 180,000 | 210,000 | 245,000 | 285,000 | 327,630 |
| 01-Jan-11 | 30-Sep-11 | 13.55% | 108,000 | 117,000 | 128,000 | 142,000 | 160,000 | 183,000 | 213,000 | 251,000 | 298,000 | 356,000 |
| 01-Oct-11 | 31-Dec-11 | 12.68% | 107,000 | 115,000 | 125,000 | 138,000 | 155,000 | 176,000 | 202,000 | 235,000 | 277,000 | 330,000 |
| 01-Jan-12 | 31-Mar-12 | 11.90% | 105,500 | 112,000 | 120,000 | 131,000 | 146,000 | 166,000 | 191,000 | 222,000 | 260,000 | 308,000 |
| 01-Apr-12 | 30-Jun-12 | 12.33% | 107,000 | 115,000 | 125,000 | 138,000 | 155,000 | 176,000 | 202,000 | 234,000 | 273,000 | 320,000 |
| 01-Jul-12 | 26-Aug-12 | 12.68% | 107,000 | 115,000 | 125,000 | 138,000 | 155,000 | 176,000 | 202,000 | 235,000 | 277,000 | 330,000 |
| 27-Aug-12 | 11-Oct-12 | 11.50% | 107,000 | 115,000 | 124,000 | 135,000 | 148,000 | 165,000 | 187,000 | 215,000 | 251,000 | 297,000 |
| 12-Oct-12 | 31-Dec-12 | 11.04% | 106,000 | 113,000 | 121,000 | 131,000 | 144,000 | 161,000 | 182,000 | 208,000 | 242,000 | 285,000 |
| 01-Jan-13 | Till date | 10.84% | 106,000 | 113,000 | 121,000 | 131,000 | 144,000 | 160,000 | 180,000 | 205,000 | 238,000 | 280,000 |
PROFIT RATES – SPECIAL SAVINGS CERTIFICATES (SSCR)
Historical Rates Remained Applicable On Special Savings Certificates (Regd.)/ Accounts From
13th November, 1996 Onwards
| Effective Period | Periodical Profits On Investment of Each Rs.100,000/- After Completion Of | |||||||
| From | To | 06- Months | 01-Year | 1 1/2 Year | 2 Years | 2 1/2 Years | 03-Years | |
| 13-Nov-96 | 13-May-99 | Rate (% p.a.) | 16.00% | 16.00% | 16.00% | 16.00% | 16.00% | 18.00% |
| Profit (PKR) | 8,000.00 | 8,000.00 | 8,000.00 | 8,000.00 | 8,000.00 | 9,000.00 | ||
| 14-May-99 | 31-Dec-99 | Rate (% p.a.) | 14.00% | 14.00% | 14.00% | 14.00% | 14.00% | 16.00% |
| Profit (PKR) | 7,000.00 | 7,000.00 | 7,000.00 | 7,000.00 | 7,000.00 | 8,000.00 | ||
| 01-Jan-00 | 30-May-00 | Rate (% p.a.) | 12.00% | 12.00% | 12.00% | 12.00% | 12.00% | 14.00% |
| Profit (PKR) | 6,000.00 | 6,000.00 | 6,000.00 | 6,000.00 | 6,000.00 | 7,000.00 | ||
| 31-May-00 | 30-Jun-00 | Rate (% p.a.) | 12.00% | 12.00% | 12.00% | 12.00% | 12.00% | 14.00% |
| Profit (PKR) | 6,000.00 | 6,000.00 | 6,000.00 | 6,000.00 | 6,000.00 | 7,000.00 | ||
| 01-Jul-00 | 30-Jun-01 | Rate (% p.a.) | 11.00% | 11.00% | 11.00% | 11.00% | 11.00% | 12.00% |
| Profit (PKR) | 5,500.00 | 5,500.00 | 5,500.00 | 5,500.00 | 5,500.00 | 6,000.00 | ||
| 01-Jul-01 | 31-Dec-01 | Rate (% p.a.) | 12.20% | 12.20% | 12.20% | 12.20% | 12.20% | 13.20% |
| Profit (PKR) | 6,100.00 | 6,100.00 | 6,100.00 | 6,100.00 | 6,100.00 | 6,600.00 | ||
| 01-Jan-02 | 30-Jun-02 | Rate (% p.a.) | 12.20% | 12.20% | 12.20% | 12.20% | 12.20% | 13.20% |
| Profit (PKR) | 6,100.00 | 6,100.00 | 6,100.00 | 6,100.00 | 6,100.00 | 6,600.00 | ||
| 01-Jul-02 | 31-Dec-02 | Rate (% p.a.) | 10.30% | 10.30% | 10.30% | 10.30% | 10.30% | 11.30% |
| Profit (PKR) | 5,150.00 | 5,150.00 | 5,150.00 | 5,150.00 | 5,150.00 | 5,650.00 | ||
| 01-Jan-03 | 30-Jun-03 | Rate (% p.a.) | 8.50% | 8.50% | 8.50% | 8.50% | 8.50% | 9.50% |
| Profit (PKR) | 4,250.00 | 4,250.00 | 4,250.00 | 4,250.00 | 4,250.00 | 4,750.00 | ||
| 01-Jul-03 | 31-Dec-03 | Rate (% p.a.) | 7.50% | 7.50% | 7.50% | 7.50% | 7.50% | 8.50% |
| Profit (PKR) | 3,750.00 | 3,750.00 | 3,750.00 | 3,750.00 | 3,750.00 | 4,250.00 | ||
| 01-Jan-04 | 30-Jun-04 | Rate (% p.a.) | 7.00% | 7.00% | 7.00% | 7.00% | 7.00% | 8.00% |
| Profit (PKR) | 3,500.00 | 3,500.00 | 3,500.00 | 3,500.00 | 3,500.00 | 4,000.00 | ||
| 01-Jul-04 | 31-Dec-04 | Rate (% p.a.) | 6.80% | 6.80% | 6.80% | 6.80% | 6.80% | 7.70% |
| Profit (PKR) | 3,400.00 | 3,400.00 | 3,400.00 | 3,400.00 | 3,400.00 | 3,850.00 | ||
| 01-Jan-05 | 30-Jun-05 | Rate (% p.a.) | 6.80% | 6.80% | 6.80% | 6.80% | 6.80% | 7.70% |
| Profit (PKR) | 3,400.00 | 3,400.00 | 3,400.00 | 3,400.00 | 3,400.00 | 3,850.00 | ||
| 01-Jul-05 | 04-Jun-06 | Rate (% p.a.) | 8.40% | 8.40% | 8.40% | 8.40% | 8.40% | 9.60% |
| Profit (PKR) | 4,200.00 | 4,200.00 | 4,200.00 | 4,200.00 | 4,200.00 | 4,800.00 | ||
| 05-Jun-06 | 22-Jun-07 | Rate (% p.a.) | 9.00% | 9.00% | 9.00% | 9.00% | 9.00% | 10.00% |
| Profit (PKR) | 4,500.00 | 4,500.00 | 4,500.00 | 4,500.00 | 4,500.00 | 5,000.00 | ||
| 23-Jun-07 | 23-Jun-08 | Rate (% p.a.) | 9.00% | 9.00% | 9.00% | 9.00% | 9.00% | 10.50% |
| Profit (PKR) | 4,500.00 | 4,500.00 | 4,500.00 | 4,500.00 | 4,500.00 | 5,250.00 | ||
| 24-Jun-08 | 30-Sep-08 | Rate (% p.a.) | 11.00% | 11.00% | 11.00% | 11.00% | 11.00% | 12.50% |
| Profit (PKR) | 5,500.00 | 5,500.00 | 5,500.00 | 5,500.00 | 5,500.00 | 6,250.00 | ||
| 01-Oct-08 | 31-Nov-08 | Rate (% p.a.) | 12.80% | 12.80% | 12.80% | 12.80% | 12.80% | 14% |
| Profit (PKR) | 6400 | 6400 | 6400 | 6400 | 6400 | 7000 | ||
| 01-Dec-08 | 31-Mar-09 | |||||||
| Profit (PKR) | 7200 | 7200 | 7200 | 7200 | 7200 | 7600 | ||
| 01-Apr-09 | 30-Jun-09 | |||||||
| Profit (PKR) | 6500 | 6500 | 6500 | 6500 | 6500 | 7100 | ||
| 01-Jul-09 | 30-Sep-10 | |||||||
| Profit (PKR) | 5800 | 5800 | 5800 | 5800 | 5800 | 6000 | ||
| 01-Oct-10 | 31-Dec-10 | Rate (% p.a.) | 12% | 12% | 12% | 12% | 12% | 12.80% |
| Profit (PKR) | 6000 | 6000 | 6000 | 6000 | 6000 | 6400 | ||
| 01-Jan-11 | 30-Sep-11 | Rate (% p.a.) | 13.20% | 13.20% | 13.20% | 13.20% | 13.20% | 14.00% |
| Profit (PKR) | 6600 | 6600 | 6600 | 6600 | 6600 | 7000 | ||
| 01-Oct-11 | 31-Dec-11 | Rate (% p.a.) | 12.40% | 12.40% | 12.40% | 12.40% | 12.40% | 13.00% |
| Profit (PKR) | 6200 | 6200 | 6200 | 6200 | 6200 | 6500 | ||
| 01-Jan-12 | 31-Mar-12 | Rate (% p.a.) | 11.60% | 11.60% | 11.60% | 11.60% | 11.60% | 12.00% |
| Profit (PKR) | 5800 | 5800 | 5800 | 5800 | 5800 | 6000 | ||
| 01-Apr-12 | 30-Jun-12 | Rate (% p.a.) | 11.80% | 11.80% | 11.80% | 11.80% | 11.80% | 12.20% |
| Profit (PKR) | 5900 | 5900 | 5900 | 5900 | 5900 | 6100 | ||
| 01-Jul-12 | 26-Aug-12 | Rate (% p.a.) | 11.90% | 11.90% | 11.90% | 11.90% | 11.90% | 12.60% |
| Profit (PKR) | 5950 | 5950 | 5950 | 5950 | 5950 | 6300 | ||
| 27-Aug-12 | 11-Oct-12 | Rate (% p.a.) | 10.70% | 10.70% | 10.70% | 10.70% | 10.70% | 11.30% |
| Profit (PKR) | 5350 | 5350 | 5350 | 5350 | 5350 | 5650 | ||
| 12-Oct-12 | 31-Dec-12 | Rate (% p.a.) | 9.90% | 9.90% | 9.90% | 9.90% | 9.90% | 10.50% |
| Profit (PKR) | 4950 | 4950 | 4950 | 4950 | 4950 | 5250 | ||
| 01-Jan-13 | Till Date | Rate (% p.a.) | 9.70% | 9.70% | 9.70% | 9.70% | 9.70% | 10.30% |
| Profit (PKR) | 4850 | 4850 | 4850 | 4850 | 4850 | 5150 | ||
PROFIT RATES – REGULAR INCOME CERTIFICATES (RIC)
Historical Rates Remained Applicable On Regular Income
Certificates From 13th November, 1996 Onwards
| Effective Period | Monthly Profit | Rate | |
| on Each | (% p.a.) | ||
| Rs.100,000/- | |||
| From | To | (Rs) | |
| 13-Nov-96 | 06-Jan-97 | 1,300.00 | 15.60% |
| 07-Jan-97 | 13-May-99 | 1,500.00 | 18.00% |
| 14-May-99 | 31-Dec-99 | 1,333.00 | 16.00% |
| 01-Jan-00 | 30-Jun-00 | 1,166.66 | 14.00% |
| 01-Jul-00 | 30-Jun-02 | 1,040.00 | 12.48% |
| 01-Jul-02 | 31-Dec-02 | 880 | 10.56% |
| 01-Jan-03 | 30-Jun-03 | 760 | 9.12% |
| 01-Jul-03 | 31-Dec-03 | 640 | 7.68% |
| 01-Jan-04 | 30-Jun-04 | 580 | 6.96% |
| 01-Jul-04 | 31-Dec-04 | 570 | 6.84% |
| 01-Jan-05 | 30-Jun-05 | 570 | 6.84% |
| 01-Jul-05 | 04-Jun-06 | 740 | 8.88% |
| 05-Jun-06 | 22-Jun-07 | 770 | 9.24% |
| 23-Jun-07 | 23-Jun-08 | 795 | 9.54% |
| 24-Jun-08 | 30-Sep-08 | 960 | 11.52% |
| 01-Oct-08 | 30-Nov-08 | 1108 | 13.30% |
| 01-Dec-08 | 31-03-09 | 1250 | 15.00% |
| 01-Apr-09 | 30-Jun-09 | 1133 | 13.60% |
| 01-Jul-09 | 30-Sep-10 | 1000 | 12.00% |
| 01-Oct-10 | 31-Dec-10 | 1030 | 12.36% |
| 01-Jan-11 | 30-Sep-11 | 1120 | 13.44% |
| 01-Oct-11 | 31-Dec-11 | 1050 | 12.60% |
| 01-Jan-12 | 31-Mar-12 | 980 | 11.76% |
| 01-Apr-12 | 30-Jun-12 | 1010 | 12.12% |
| 01-Jul-12 | 26-Aug-12 | 1030 | 12.36% |
| 27-Aug-12 | 11-Oct-12 | 920 | 11.04% |
| 12-Oct-12 | 31-Dec-12 | 880 | 10.56% |
| 01-Jan-13 | Till date | 864 | 10.36% |
PROFIT RATES – BAHBOOD SAVINGS CERTIFICATES (BSC)
Rates Applicable On Bahbood Savings Certificates
| Effective Period | Monthly Profit | Rate | |
| on Each | (% p.a.) | ||
| Rs.100,000/- | |||
| From | To | (Rs) | |
| 01-Jul-03 | 30-Jun-05 | 840.00 | 10.08% |
| 01-Jul-05 | 04-Jun-06 | 920.00 | 11.04% |
| 05-Jun-06 | 22-Jun-07 | 960.00 | 11.52% |
| 23-Jun-07 | 23-Jun-08 | 970.00 | 11.64% |
| 24-Jun-08 | 30-Sep-08 | 1130.00 | 13.56% |
| 01-Oct-08 | 30-Nov-08 | 1250 | 15.00% |
| 01-Dec-08 | 31-Mar-09 | 1400 | 16.80% |
| 01-Apr-09 | 30-Jun-09 | 1342 | 16.10% |
| 01-Jul-09 | 30-Sep-10 | 1180 | 14.16% |
| 01-Oct-10 | 31-Dec-10 | 1220 | 14.64% |
| 01-Jan-11 | 30-Sep-11 | 1280 | 15.36% |
| 01-Oct-11 | 31-Dec-11 | 1200 | 14.40% |
| 01-Jan-12 | 31-Mar-12 | 1155 | 13.86% |
| 01-Apr-12 | 30-Jun-12 | 1190 | 14.28% |
| 01-Jul-12 | 26-Aug-12 | 1220 | 14.64% |
| 27-Aug-12 | 11-Oct-12 | 1125 | 13.50% |
| 12-Oct-12 | 31-Dec-12 | 1080 | 12.96% |
| 01-Jan-13 | Till Date | 1060 | 12.72% |
Note: The above monthly profit has been worked out on Rs.100,000/-. You can easily
calculate profit on your investment by dividing the relevant amount of the table with 100,
000 and then multiplying with the amount you have invested.
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hi
i want to buy national saving certificates here in canada toronto. can i?
Dar sahib
If there is a Pakistani Bank in Canada, then you can buy through the bank otherwise you have to send money to Pakistan National Savings in Pakistan
Please click the following link to read more about investment from abroad.
http://www.opfblog.com/6371/details-about-pakistan-national-saving-certificates/
I live in Canada. In April 2006 I went to Pakistan and puchased Special Savings Certifcates. I never encashed their six monthly profit.
Now, that my SSC’s have completed their three years term in April 2009,I am not able to encash or reinvest while I am living abroad.
I am planning to go to Pakistan in 2010. My question is if any body can tell me correctly that is it possible to re-invest those certificates at BACK DATE ie., from April 2009?
I would appreciate for your help !
Tahir, Toronto
@ Tahir
if the profit is not withdrawn on due date it will automatically stand reinvested and would be calculated for further profit on completion of the next 06 months’ period.
Please read details at the following page
http://www.opfblog.com/6371/details-about-pakistan-national-saving-certificates/
Thank you Rahim for reply. But the answer is not still clear.
I want to re-invest not only profit but the with the principal amount as well from back-date which is April 13, 2009.
Is it possible to re-invest the whole amount including accumulated profit?
I would appreciate if any body can help to find the right answer.
Thanks
Tahir
is Possible the Prize bond can be sold abroad Overseas Pakistanis then in the shape the country’s no need to open their hands in front to any
Overseas Pakistani can easily buy the prize ponds and the winning price can be authoritized to Pakistan representative.
this is betterment for Pakistan’s economy
What about the bond for overseas pakistanis is possible sold by pak.rep.
defense certificate on maturity after 10years if not with drawn will it be reinvested automatically at current rate what are the formalities i have to under go, please advise.
Regards
plz tell me about RS.10,000 defance certificate
profit by year 1,2,3,4,5,6,7,8,9,10.
Regards
and plz also tell me about spacial saving certificate, RS. 10,000.
I want the following information, if some one provideme that, I would be really greatful.
1. I purchased Special Saving Certificates on 5th of August, 2008. I want to keep untill 3 years from date of purchase. How much I would get at the time of maturity.
2. I Purchased Same kind of certificates from Dubai one year ago, in the event of going back to Pakistan before the maturity date the issueing Bank will endorse to one of their branch of my choice ( as they said at the time of purchase). How long it would take to get registered at that branch and would it be smooth enough .
Thamks.
Salaam,
I would like to know if DSC bonds were purchased under my name but signed by another person as the purchaser, how would one redeem them? We live in Canada and were residing there when they were purchased on our behalf since we could not sign for them. The person filled out the application and then signed it himself as the purchaser. Now I am concerned and wondering how I would redeem this? Do I have to visit Pakistan myself or the person who signed it to redeem with a power of attorney?
@R. Sarwar, You can give a power of attorney. It depends on the officer incharge of that center if he accepts your power of attorney but it is worth trying.
Where can I get info on Behbood Sav. Certificates?
My uncle had my name as a nominee on Behbood Savings Cerificates. He has expired.Can I transfer these certificate on my name? Will I have to pay tax on it? The Behbood certificates are non taxable!
Please reply in detail. Thanks
Attention: I posted a question no. 66 about a week ago but no one has replied to it as yet. Anyone having knowledge, please reply.
dear mushtaq
you need to cash these certificates first from saving center … they will charge 10% withholding tax and they will give you money with the profit if these certificates are more then one year old.
you required death certificate of you uncle with the certificate…
if you required more information please let me know
thank you
Dear Wasif,
I thank you for the reply but I need more detailed information.
My uncle had 5 lacs of Behbood and 5 lacs of Pensioner Savings Bonds. As he has expired and I am a nominee on both of these Bonds.
These bonds were purchased a year ago and my uncle died 3 months ago.
I shall go to Pakistan next month to encash them.Please let me know if I would get interest on Behbood and Pensioner Sav. Bonds. Someone told them that I would get interest only uptil that date when he expired. A nominee gets no interest when a person expires. In this case only for 9 months and I won’t get interest for the remaining 3 months.
Please reply in detail.
Thanks
Mushtaq
Please, anyone can reply to my message no. 69.
Thanks.
Mushtaq
From Canada
Dear Sir,
i would like to check if i wants to open an account in your bank ‘Islamic Bank’ how much profit i will have on it in one month and is there any zakat or tax that bank is going to cut. please advice.
your prompt reply will be much appreciated.
Thanks in Advance!!!
Aysha Aslam
Sorry if i can have one lakh in my account how much profit i can have in one month
@Aysha Aslam,
A lot of queries are. As a conscientious citizen this senior citizen would wish to answer briefly due to his health reason.
The main theme is from a sister Aysha if Rs. 57,000 a month profit on Rs. 50 lakhs deposit is possible. She is referring to some advertisement appearing from so called Islamic bank in a newspaper. I have not read or seen this advertisement. However without even seeing that I wish Aysha and all others that in case they still have that advertisement then they must read that advertisement once more carefully. On that advertisement in a very “fine print” or in small letters with * sign there would be written “estimated, expected” etc etc. And this is the trick. Please be careful from following into that trap. First of all remember there is no “Islamic” banking anywhere in any part of the world. This is just as cruel joke as is Quran TV. Just to take advantage of the religious sentiments of the ordinary Muslim, these looters have invented different types of terminology like Islamic investment, Islamic shariah compliant etc. No bank world over honestly wish to work on Islamic principles.
Rs. 57,000 approximately a month profit is possible, yes, but not with any so called Islamic banking. It is only possible with National Savings Schemes which are government guaranteed and most safe in Pakistan. I will advise my those overseas Pakistanis who have cash funds to invest and are holding Pakistani passports, to keep their money in Pakistan in National Savings. This is very safe and also the best profit one can think of in today’s general banking system world over.
You can invest Rs. 30 lakhs in Behbood Certificates or Pensioners Scheme and you will fetch a net profit of Rs. 35,400 a month less a small withholding tax and zakat. In net you will pocket about Rs. 34,000 plus minus a month roughly. Rest you can invest in Regular Income or Special Savings.
In case Aysha or anyone wish to keep this money in Banks I would advise to refrain but only opt National Savings. For keeping a savings account, opt only on priority Habib Bank and secondly the National Bank of Pakistan. Though staff behaviour of NBP is appalling yet this bank is safe. Avoid so called foreign banks in Pakistan and those which have sprang up in Pakistan in every street. Sitting abroad deal directly with the National Savings and not through your relatives or any bank branches abroad.
One can contact me at adiseme@live.com but due to my health response would be a bit late but I would feel it my honour if I could help anyone.
Aysha, your enquiry how much you will get monthly against one lakh. Rates are different eg in Behbood you will get Rs. 1180 a month, in Regular Rs. 1000 a month etc and so on.
Dear Sir,
Sorry to bother. i have one more question that i saw on the news paper that you have a scheme that if we will put 25 lakhs in Islamic bank we will have 27,000 rupee comission in one month. Is it true???? and where are the branches on Islamic bank and Alfalah Banks in lahore if you can provide us the maps or address. it will be much appreciated.
Thanks & Regards.
Aysha
@Aysha Aslam,
Aysha remove the word Islamic banking from your mind, you will have no regret if you fall victim of such alluring advertisments.
Hi,
is it possible that can i have the account opening forms of Islamic bank and Alfalah bank through you if you have it??? what’s the requirement to open an account starting how much money i should have while i am opening an account??? as i am living abroad and i want to make sure when i will go back Pakistan i should have all the information and documents with me. Thanks.
Hello Everybody!
Can someone reply to my question no.69
Thanks
Mushtaq
I have special savings certificate which I purchased in January’2009. So far I have not claimed any profit. I have 2 questions which are given below:
1.0 Will I get profit on the amount of profit which was due which I did not claim yet.
2.0 Do I need to take the original certificates along with the original cheque (profit) book or only the original cheque (profit) is good enough to claim the profit only.
@ Aysha,
Dear as far as I think Meezan Bank offer Islamic Banking in Pakistan. You can google more about it.
Refermy post no:75 above.
Can any one help and reply please.
Dear Sir,
Good Morning SIR/MAdAM
I hope you will be fine with almighty.
Actually,i need some information about national saving intrest rates.I have invested some of money behafe of my father.my father just recently retired and he is over 60,i kept 6 million (pensioner scheme) which i m taking 15% on this money,but i need to know if is it possible i can keep another 6 million on same scheme same intrest 15% behafe of my father OR alternative way , i want to invest 10 million more but intrest rate should be minimum 14%.I hope u will reply me as soon as possible ,i woulldT be wait much longer.thanks so much your precious time.
salaam aleikum
I am wanting some advice ***this may be very important to forgeign investors in Pakistan***
My father purchased Defence Savings Certificates from the Post Office in Pakistan.
He died before the 10 year maturity of the certificates. My father nominated me as the ‘Nominee’ on the certificates for value ‘share 100%’ when he purchased them. I went to the Post Office and they encashed the certificates into my bank account including all profit.
Now, there is a legal challenge by my family as to what a ‘Nominee’ is.
The advocate is advising them that the Nominee is ‘merely a hand to receive the money’. Is this correct?
If it is correct, then the system for nominee is extremely flawed for those poeple who want to ensure they are leaving money to certain persons only. This has a big impact on foreign investors.
Please can somebody advise, in the terms of Banking and Post Office Laws – what the right of the Nominee is?
hello,
i had similar problem – i had to prove it was the ‘desire’ and the ‘intent’ of the purchaser to actually leave you the money through nomineeship.
this can be done by a good competent lawyer incase you are ever challenged. this is why the ‘share 100%’ becomes so important in this cases. you can prove the intention, as this is important.
The word “Nominee” is only for getting, receiving and encashing the proceeds lying in a Bank account or insurance money. It is an official instruction by the late to the bank or insurane that my money/things are handed over to this and this named person in case of my death. This is done just for smooth sailing and closing of the account which otherwise is tiresome method.
Now when a person nominates for example in case of a bank account or investment in national savings say the eldest son or young daughter mostly the person nominating so do it because he finds that in case of death this eldest son or young daughter can well manage due to his/her education with the bank. Secondly such a person trusts that his eldest son/youngest daughter are most trutable and honest hence he nominates that in case of death he/she will receive the money and would divide to all other brothers and sister in a justifiable manner. So it is all to do with the conscious of the “Nominee” in assuming his father nominated him because in case of death he wanted to give all money to him or he wanted that after getting the money legal sharia shares are given to all.
According to Sharia all heirs have the prescribed rights on left over money. But if the nominee in his own honesty feels the father wanted him to have all that money it is upto him.
There is a lot of difference between the “Will” and “Nominee”. If you have taken the money from Natioal Savings and desposited in your own, the there are two options for you. Withdraw that money from that account and keep it elsewhere in account of your wife, son etc provided you think you father left that only and only for you and that other relatives are struggling to get it through legal process claiming also heirs..
HI DEAR BROTHER IF I DEPOSIT 100000RS AND INTREST IS EVERY MONTH 1300 IS THIS RIGHT
i have taken retirement after 30yrs living in dubai wants to invest in savings scheme age above 50
can i get same rate as retire person getting after retirement in pakistan and what documents u need
for pls reply…..thanks
Dear Ahmed, you can not nvest in National Savings Behbood Scheme as your age is 50. Likewise you can not invest in Pensioners scheme as you are not a government retired employee. Each government raises a slogan of welfare of overseas Pakistanis and their rehabiliation on their return eg. recently Shahbaz Sharif and MQM’s Farooq Sattar raised the same slogans but just to remain as slogans These good things they only repeat before TV cameras and then forget. More than 10 years I struggled hard spending a lot money, time and energy that if the government had any real remotest care for the Overseas Pakistanis then those who return back to Pakistan after serving long say 20 years must be treated as “retired” and allowed investment in Behbood Certificates but I never got any response including from the so called Overseas Pakistanis Foundation which has only been established to provide jobs to mostly dear one who in return could loot this organisation.
Javed
I purchased DSC in 1997 that were already matured. I live abroad. Do I need to come to mature the same. What if I want to reinvest the same in the same DSCs. Is that automatic or I need to go to Pakistan to apply for the re-investment. Please reply.
Hi, i have a defence savings certificate which matured 1 year ago, what will happen now that I am 1 year late? Will I still get the profit or will i lose it?
Also I would like to know how and who can withdraw this money, as I live in England, will I have to go to Pakistan to cash the certificate
Dear Hussain
Profit on your certificates will continue even after maturity, you do not have to worry about that. If you purchased you certificates from Pakistan then you will be paid in Pak rupee, you can en-cash when you visit Pakistan but If you paid from outside Pakistan in foreign currency, then you can get profit in foreign currency as well.
Hassan, Raheem Bhai’s advice is very correct. I only would add to it when you encash get the proceeds in Pak Rupees and never get it converted in foreign currency. Sitting abroad you can also get those certificates encashed by asking the National Savings to pay you through a Pay Order in Pak Rs. which then you will send to your bank account in Pakistan for credit. When i was living abroad I adopted this procedure.
Thanks and regards.
How do we withdraw the profits, i mean how do we get the profit coupons/receipt (RSC). Do they mail it to the address given or what?
How are the profits paided???
I just want to ask that my national sav Cert got mature 3 years ago, in 2007 i was told by a friend that for 1 lakh u’ll get 11% so please let me kw abt it if its sure…m out of pak so not sure abt anything plz help me out with it..:))
thnaking you!
You have just mentioned “Certificates”. Which certificates it is not clear hence no proper answer can be given.
Your writing also is not clear. What I could understand is that you are abroad and your “Certificates?” are lying matured since 2007. Take my advise when you go to Pakistan and get those encashed be sure to take profit upto 2010 or till the period you encash those. Do not get yourself be fooled by someone that profit will be upto 2007. One thing you and others in your circumstances must always remember that you first calculate the total profit accrued or get it calculated before going to ” place ” for encashment and never never ever sign on back of the Certificate as “acknowledgement” of having received so and so unless you have got it confirmed what amount you will get and do not sign that portion blank.
Mohammad Sabir, one other thing, sitting abroad you can get those certificates encashed by asking payment through a Pay Order/Bank Draft for credit into any bank account in Pakistan. Never ask for repatriation in foreign currency which would be a big loss to you.
Folks, Can anyone tell me whether buying National Saving Certificates is Halaal? and is that complying with the Shariat Rules. I am working overseas and find it quite attractive but having 0 knowledge hesitant to proceed further. Thanks for the help !
is there limit of how much u can save, is the money 100%, safe what is the best way 2 avoid paying holding tax and other taxs and if u wanted 2 change into pounds wts the best way, thank u.
sir i need the compound rate of special savings account( certificate ) of october 2010
Q1. Will this rate of 14.64% on Behbood Certificate be increased on all those certificates which have been acquired less then 14.64%? If not
Q2. What would be the cut off rate if anybody withdraws his/her invested amount?
14.64 profit rate will be applicable on new investments only
Q2: I do not have definite answer at the moment, will try to get some info on this question.
Withholding tax FAQ
Q.13 On which schemes, the withholding tax is applicable and under which law?
Ans: With the exception of BSC and PBA, profit on all NSS is subject to deduction of withholding tax @ 10 in case the investment exceeds Rs.150,000/- under the Income Tax Law for the time being in force except Regular Income Certificate wherein no such exemption is available.
Q.14 If two persons are holding joint investment, what is the limit of tax exemption what will be the investment limit either Rs.150, 000/- or Rs.300,000/-?
Ans: For the purpose of withholding tax deduction, presently Rs.150,000/- shall be deemed to be the limit. As soon as this limit is exceeded the profit shall become liable to withholding tax beyond which tax shall apply irrespective of whether the investment is in single or joint names.
Q.15 Is there any tax applicable on the prizes won on Prize Bonds, if so, what is the ratio?
Ans: The tax at the rate of 10% of the prize is deducted at source at the time of payment of prize money in accordance with the Income Tax Ordinance, 2001 as amended from time to time.
Q.16 I am a non-resident Pakistani and want to make some investment in National Savings Schemes (NSS), whether, the profit earned will be exempt from tax or not?
Ans: The investment received through the branches of Habib Bank Ltd. and United Bank Ltd. operating abroad and profit paid abroad is exempt from deduction of withholding tax.
Q.17 On which scheme(s), the Zakat is applicable and how?
Ans: Zakat is collected from investment made in Defence Savings Certificates, Special Savings Certificates (Regd), Savings Account and Special Savings Account. In case of Defence Savings Certificates, the Zakat is collected @ 2.50% on the accumulated value of the certificate(s) (i.e. principal + profit) as on the Zakat valuation date preceding the date of encashment. Whereas, in case of Special Savings Certificates (Regd), Savings Account and Special Savings Account the Zakat is collected @ 2.50% of the principal of that particular maturity.
Q.18 Is there any time constraint for submitting a Zakat Declaration seeking exemption from collection of Zakat?
Ans: Yes, there is definitely a time limit. The said declaration can easily be submitted at the time of investment or after that, but it should be furnished before 1st Shabban so as to make it effective for the coming Ramadan. Any declaration submitted after the 1st Shabban will be applicable for the next year and not for the current Islamic calendar year.
Q.19 I am a non-resident Pakistani and want to make some investment in National Savings Schemes (NSS), whether, the said investment will be exempt from Zakat or not?
Ans: Any assets acquired against payment in foreign currency or maintained in foreign currency are to be treated as exempt from compulsory collection of Zakat. An account, which is opened with foreign currency and out of which an account can be withdrawn in foreign currency or local currency does not change the nature of the account.
Q.20 Is there any Zakat collection in case of reinvestment of existing Certificates?
Ans: No. Zakat is only collected at the time of actual encashment.
This is a good blog for the information and benefit of Pakistanis living abroad.
There are Branches of Pakistani banks in various countries, but there is no branch of Directorate of National Savings. I think there should be branches of Directorate of National Savings side by side National Bank Branches abroad. The modalities on all aspects can be worked out. Govt will be able to fetch more investment in National schemes. Moreover citizens who have investment with the Dte and cannot frequently visit homeland will be able to get their profits (no matter may be in Rupees) and attend to all matters relating to their investment in DNS abroad.
K A Khan
TX USA
Profit on all NSS have been raised w.e.f 01st Jan 2011 What are the new rates and will it be automaticely passed on to the investment made prior to this announcment ??
Could some one expalin how to calculate withholding tax @10% if investment in 200,000 ? My DSC certificate will muture next year.
Can you please explain about SSC, is there any other taxes are applicable within three years period other than Zakat. Also if profit can not be taken six monthly then profit will also be applicable on that amount.
We should invest money in Meezan bank. because of highly pure profit than other banks.
Mufti taqi usmani is world renowned scholors. his fatwa already there. as a normal muslim
i am not worried about it. Last time i invested 21 lacs rupees. if other bank would give more than
meezan bank i will not accept it.we have to choose halal profit.
thanks
salman bashir
Salam Naureen,
In case UR Father’s death.U have to produce death certificate + UR national ID Card + the certificate, they Must cash the cetificate Provided UR Father has nominated U as Beneficery……………….In case UR not Beneficiery than U have to get sucession Certificate from the Court. Hope that will help U. I was in a similar situation ,in openion this is the correct procedure.
Need fast improvement in procedures of transactions of National Savings (Use of computers is important)
for that you need new blood to introduce fastly in the Organisation in order to use it system correctly and quickly.Old staff is not capable to use IT instuments even they are well educated.
If system is computerised and staff well trained to use the system then Saving Centres may increase atleast 25% business in this year.Above statement is based on my experience of Banking and commercial companies experience.
If National Savings wish to discuss futher may contact 0308-2446993
Thanks & Regards,
Athar Ali,Syed
Hello dears,
Can I purchase DSC from abroad? I am living in Kuwait, Is there any procedure?
Regards,