ISLAMABAD: The Central Directorate of National Savings, also known as Qaumi Bachat Bank, has reduced the profit rates on several certificates starting from October 2024.
The profit rate on Regular Income Certificates (RICs) has been lowered to 12.72 percent. This change reduces the monthly profit to Rs1,220 on an investment of Rs100,000 from the Qaumi Bachat Bank.
According to National Savings, no Zakat will be deducted from the investment made in Regular Income Certificates.
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The federal government introduced RICs in 1993 to meet the monthly financial needs of the general public. The certificates have a five-year maturity period.
Investors can purchase these certificates in denominations of Rs50,000, Rs100,000, Rs500,000, Rs1,000,000, Rs5,000,000, and Rs10,000,000. Monthly profit payments start immediately after the certificates are issued.
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