ISLAMABAD – National Savings, also known as Qaumi Bachat Bank, has recently revised the profit rates of various products, including the Regular Income Certificates.
The bank updated the profit rate of the Regular Income Certificates on March 19, 2024, setting the new rate at 14.76 percent.
To cater to the monthly requirements of the general public, the government introduced the Regular Income Certificates (RICs) with a maturity period of five years in February 1993.
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.
Profits are paid on a monthly basis to investors starting from the date of issue of the certificates.
Latest Profit Rate for Regular Income Certificates
Following the revised policy, the profit rate on Regular Income Certificates has been increased to 14.76% per annum.
Investors will receive Rs1,230 per month, effective from March 19, 2024, from the Qaumi Bachat Banks.
Zakat Deduction
Investments made in Regular Income Certificates are exempted from Zakat Deduction.
