ISLAMABAD: The Central Directorate of National Savings, also known as Qaumi Bachat Bank, has announced a reduction in the profit rate on several certificates, effective October 2024.
The profit rate for Regular Income Certificates has been lowered to 12.72 percent, resulting in a monthly profit of Rs 1,220 for an investment of Rs 100,000 in Qaumi Bachat Bank.
According to National Savings, there will be no Zakat deduction on investments made in Regular Income Certificates.
The federal government introduced Regular Income Certificates (RICs) in 1993, offering a five-year maturity period to assist the general public with their monthly financial needs.
These certificates are available in denominations of Rs 50,000, Rs 100,000, Rs 500,000, Rs 1,000,000, Rs 5,000,000, and Rs 10,000,000. Investors receive monthly profit payments from the day the certificates are issued.
