ISLAMABAD – The National Savings or Qaumai Bachat Bank has announced a decrease in the profit rate on Behbood Savings Certificates and other savings schemes as of May 2024.
Overview of Behbood Savings Certificates
The Behbood Savings Certificates (BSCs) were introduced by the government in 2003 to provide financial support to widows and senior citizens by offering a reasonable monthly profit rate. In 2004, the scheme was extended to include disabled persons and special minors through their guardians.
Revised Profit Rates
As of May 14, 2024, the profit rate on Behbood Certificates has been revised down to 15.36% from the previous 15.60%. The revised rate translates to a monthly profit of Rs1,280 for every Rs100,000 invested.
| Effective Period | Monthly Profit on each Rs100,000 | Rate (%) |
|---|---|---|
| 14-May 2024 | Rs1,280 | 15.36% |
Eligibility for Purchase
Behbood Savings Certificates can be purchased by the following citizens of Pakistan:
- Senior citizens aged sixty years or above
- Single widows, provided they do not re-marry
- Two eligible persons as described above, in their joint names
- Disabled persons holding an NIC with a Disability logo, and special minors through a guardian
Investment Limits
- Minimum Investment: Rs5,000
- Maximum Investment:
- Single person: Rs7.5 million
- Joint investors: Rs15 million
Behbood Savings Certificates Profit Rate from May 2024
Additional Benefits
- Monthly Profit Payments: Profit is paid on a monthly basis, starting from the date of purchase of the certificates.
- Tax Exemptions:
- No withholding tax is collected on the profit earned on BSCs.
- Investments in BSCs are exempt from Zakat collection.
The decrease in the profit rate on Behbood Savings Certificates reflects the government’s adjustments in response to current economic conditions while still providing a secure investment option for senior citizens, widows, and disabled individuals.
