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ISLAMABAD: The Central Directorate of National Savings, aka Qaumi Bachat Bank, has lowered the profit rate on several certificates with effect from October 2024.
The profit rate on Regular Income Certificates has been reduced to 12.72 percent, lowering the profit of Rs1,220 per month on an investment of Rs100,000 from Qaumi Bachat Bank.
According to the National Savings, there will be no Zakat Deduction on the investment made in Regular Income Certificates.
The federal government introduced the Regular Income Certificates (RICs) in 1993 for a five-year maturity duration to meet the monthly needs of the general public.
The certificates are available with domination of Rs. 50,000, Rs. 100,000, Rs. 500,000, Rs. 1,000,000, Rs. 5,000,000, and Rs. 10,000,000. Beginning on the day the certificates are issued, investors receive monthly payments of the profits from the Regular Income Certificates.
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