KARACHI – The Central Directorate of National Savings (CDNS) has once again revised the interest rates on various schemes offered by Qaumi Bachat or Qaumi Bachat Bank.

The third downward revision in the past two months saw a decline of 72 basis points. According to the official website, the rate of return on Defense Savings Certificates is 14.1 percent.

Defense Savings Certificates Profit Rate February 2024

The bank has recently revised the interest rates of its various products including Defense Savings Certificates. As per the latest update, the rate of return on Defense Savings Certificates is 14.1%.

Amount Payable (Principal + Profit) on every Rs 100,000 invested

112,000 in the first year

2 years Rs.125,000

3 years Rs.139,000

4 years Rs.155,000

5 years Rs.175,000

6 years Rs.200,000

7 years Rs.230,000

8 years Rs.265,000

9 years Rs.308,000

10 years Rs.360,000

Defense Savings Certificates Tax/Zakat deduction

The rate of tax deduction will be as follows:

Filers: Individuals appearing in the Active Tax Payer List (ATL), the rate of withholding tax will be 15% of the output/profit irrespective of the date of investment and the amount/profit.

Non-filers: Persons not appearing in the Active Tax Payer List (ATL), the rate of withholding tax will be 30% of the output/profit irrespective of the date of investment and amount/profit.

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