GOVERNMENT OF PAKISTAN

MINISTRY OF FINANCE

NATIONAL SAVINGS CENTRE

KAHROR PACCA

SPECIAL SAVINGS CERTIFICATES (REGISTERED)

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 reckoned from the date of purchase.

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. In addition to the individual investors, the following institutions can also invest in the scheme:

1. Registered Charities (Non-profit bodies).
2. Public Sector Enterprises excluding Banks.
3. Private Educational & Health Institutions.
4. Employees Old Age Benefit Institutions (EOBIs).
5. Private Corporate Sector registered with the SECP excluding Banks.
6. Non-Bank Financial Institutions (NBFIs) excluding Insurance Companies.

How To Purchase

These certificates can be purchased from any National Savings Centre (NSC), Pakistan Post Offices (PPOs), State Bank of Pakistan (SBP) and authorized Scheduled Bank branches by filling in a prescribed form called SC-1, available at all the above offices of issue, free of cost, accompanied with a photocopy of the computerized National Identity Card (CNIC) or in case of overseas Pakistanis, a photocopy of National Identity Card for overseas Pakistanis (NICOP) or Pakistan Origin Card (POC) or in case of a minor, a photocopy of Form-B or Child Registration Certificates (CRC) or in case of a foreign national, a photocopy of the Passport. To download application form in editable Adobe Acrobat format, please click here.

Mode of Deposit

These certificates can be purchased by depositing cash at the issuing office or by presenting a cheque / draft. The certificates shall immediately be issued on receipt of cash. However, in case of deposit through cheque / draft, the certificates shall be issued from the date of realization of the cheque / draft 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. However, no profit is payable if the encashment is made before completion of six months reckoned from the date of purchase.

What Will I Get As Profit

As per prevailing rates, the profit is paid @11.60% p.a. for 1st five periods of complete six months and @ 12.002% p.a. for the last complete six months. However, if the profit is not withdrawn on due date, the undrawn profit stands automatically reinvested and earns further profit on completion of the next  six 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 by the investor(s) exceeds Rs.150,000/-. The Zakat is collected on the date of actual encashment and not on continued reinvestment on maturity @ 2.5% of the principal amount in respect of such encashment at it stood on the valuation date immediately preceding such encashment.

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