Keeping in
view the monthly requirements of the general public, this five years' maturity
scheme was launched on 2nd February, 1993. These certificates are available in the
denomination of Rs.50,000, Rs.100,000,
Rs.500,000, Rs.1,000,000, Rs.5,000,000 & Rs.10,000,000/=. Profit is paid on
monthly basis reckoned from the date of issue of certificates.
Who Can Invest .
These certificates can be purchased by a single adult, a
minor or 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 above individual
investors, the following institutions are also allowed to invest in the
scheme, subject to their registration under the relevant law for the
time being in force:
a. Registered
Charities (Non-profit bodies).
b. Public Sector
Enterprises excluding Banks.
c. Private
Educational & Health Institutions.
d. Employees Old
Age Benefit Institutions (EOBIs).
e. Private
Corporate Sector registered with the SECP excluding Banks.
f. Non-Bank
Financial Institutions (NBFIs) excluding Insurance Companies.
How To Purchase.
These certificates can be purchased from any National
Savings Centre (NSCs) or from Pakistan Post Office (PPO) 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 may be attached with the application form (SC-I).
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. 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.50,000/-, however, there is no maximum limit
of investment in this scheme.
What About Redemption.
These certificates are encashable any time subject to
deduction of service charges at the following rates:
| if encashed before
completion of one year from the date of issue. |
@ 2.00% of the face value |
| if encashed after one year
but before completion of 02 years from the date of issue. |
@ 1.50%
of the face value |
| if encashed after two years
but before completion of 03 years from the date of issue. |
@ 1.00%
of the face value |
| if encashed after three
years but before completion of 04 years from the date of issue. |
@ 0.50%
of the face value |
What is the return.
At the prevailing rates monthly profit of Rs.980/- (excluding withholding tax) is paid
on investment of each Rs.100,000/-. This way the profit rate works to 11.76%
p.a. However, the facility of automatic reinvestment of profit to earn further
profit is not available in this scheme.
Tax & Zakat Status.
The profit earned on these certificates is subject of
deduction of 10% withholding tax at source. However, the investment made
in this scheme is exempt from collection of Zakat.
