Who Can
Invest .
The pensioners of Federal Government,
Provincial Governments, Government of Azad Jammu & Kashmir, Armed Forces,
Semi Government and Autonomous bodies are allowed to invest.
How To
Open an Account.
These accounts can only be opened at the National Savings Centre
(NSCs) by filling in a prescribed form called
DA-1, which is available at the
offices of issue free of cost. A copy of the Computerized National Identity Card
(CNIC) and the
copy of Pension Payment Order may be attached with the application
form. To download application form in editable Adobe Acrobat
format,
please click here.
Mode of Deposit.
The account can be opened by depositing cash at the issuing office or by
presenting a cheque. The account shall immediately be opened on receipt of
cash. However, in case of deposit through cheque the account shall be opened
with effect 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.10,000/-, whereas, the maximum limit is
Rs.3,000,000/-. If an investor has already opened an account, he
is eligible to invest only two subsequent deposits in that account.
What About
Withdrawal.
The deposits can be withdrawn any time after date of deposit
subject to deduction of service charges at the following rates:
|
if withdrawn before completion
of one year from the date of deposit. |
@
1.00%
of the face value |
|
if withdrawn after one year but before
completion of 02 years from the date of deposit. |
@
0.75%
of the face value |
|
if withdrawn after two years but before
completion of 03 years from the date of deposit. |
@
0.50%
of the face value |
|
if withdrawn after three years but before
completion of 04 years from the date of deposit. |
@ 0.25%
of the face value |
Note: A receipt of the service charges
so deducted, duly signed by the officer incharge and the
cashier, shall be issued to the investor.
What Will I Get As Profit.
At the prevailing rates monthly profit of Rs.1060/- is paid on
investment of each Rs.100,000/-. This way the profit rate works to
12.72%
p.a. Automatic reinvestment of profit facility to earn further profit
at the scheme's rate is
not admissible in this scheme.
Tax
& Zakat Status.
The withholding tax is not collected
on the profit earned on the deposits made in this scheme. The investment made
in the scheme is also exempt from Zakat.
