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Welcome Guest!
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Tuesday, May 22, 2012, 9:01 am
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Keeping in view the periodic needs of depositors, this three years' maturity scheme was introduced in February, 1990. These certificates are available in the denomination of Rs.500, Rs.1000, Rs.5,000, Rs.10,000, Rs.50,000, Rs.100,000, Rs.500,000 and Rs.1,000,000/=. Profit is paid on the completion of each period of six months.
Who Can Invest?
These certificates can be purchased by a single adult, a minor, two adults in their joint names with the options of payable to the holders jointly (Joint-A ) or payable to either (Joint-B). An adult can also purchase these certificates on behalf of a single minor, two minors jointly or himself/herself and a minor jointly.
How To Purchase?
These certificates can be purchased from any National Savings Centre (NSC), Pakistan Post Office (PPO), Authorized branches of Scheduled Banks branches and the offices of State Bank of Pakistan (SBP) by filling in a prescribed form called SC-1, which is available at all the above offices of issue free of cost. A copy of the Computerized National Identity Card (CNIC) or in case of a foreign national, a copy of the Passport is required to be attached with the application form.
Mode of Deposit?
These certificates can be purchased by depositing cash at the issuing office or by presenting a cheque. The certificates shall immediately be issued on receipt of cash. However, in case of deposit through cheque the certificates shall be issued from the date of realization of the cheque after receipt of the clearance advice.
What Is The Investment Limit?
The minimum investment limit is Rs.500/-, however, there is no maximum limit of
investment in the scheme.
What About Redemption?
These certificates are encashable at par any time after the date of purchase. However, no profit is payable if the encashment is made before completion of six months.
Further, certificates purchased on or after 15-11-2010 can not be automatically reinvested. However, other better options are available for investment in National Savings Schemes.
What Will I Get As Profit?
At prevailing rates, the profit is paid @11.80% p.a. for 1st five profits and @ 12.20% p.a. for the last profit. However, if the profit is not withdrawn on due date it will automatically stand reinvested and would be calculated for further profit on completion of the next 06 months' period.
Tax & Zakat Status.
At present, the profit earned is exempt from withholding tax, if the total investment in the scheme by the investor(s) does not exceed Rs.150,000/-. However, withholding tax @ 10% is deductible at source on the profit(s) earned if the total investment exceeds Rs.150,000/- by the investor(s). Zakat is collected at source as per rules.
| Saving Scheme Details |
| Scheme Type: | Non-Islamic |
| Type: | Certificate | | Denominations:(Rs.) | 500, 1000, 5000, 10000, 50000, 100000, 500000 | | Profit Amount:(Rs.) | 5800 | | Key Features: | Rs. 5,800/- is paid every six months on an investment of Rs. 100,000/- | | Premature Encashment: | Yes | | Penalty on Premature Encashment: | No | | Conditions of Premature Encashment: | These certificates are encashable at par any time after the date of purchase. However, no profit is payable if the encashment is made before completion of six months.
Further, certificates purchased on or after 15-11-2010 can not be automatically reinvested. However, other better options are available for investment in National Savings Schemes. | | Zakat Deduction: | At present, the profit earned is exempt from withholding tax, if the total investment in the scheme by the investor(s) does not exceed Rs.150,000/-. However, withholding tax @ 10% is deductible at source on the profit(s) earned if the total investment ex | | Zakat Deduction: | Voluntary | | Zakat Deduction: | 2.5% on first Ramadan |
| Auto Re-Investment: | Yes | | Eligibility & Terms: | These certificates can be purchased by a single adult, a minor, two adults in their joint names with the options of payable to the holders jointly (Joint-A ) or payable to either (Joint-B). An adult can also purchase these certificates on behalf of a single minor, two minors jointly or himself/herself and a minor jointly. | | Withholding Tax: | 10% |
| Min.Amount (Rs.) | Max.Amount (Rs.) | Profit Freq. (Months) | Maturity (Months) | Rate (%) |
| 500 | 1000000 | Half Yearly (6 Months) | 36 | 11.86% p.a. |
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