SPECIAL SAVINGS CERTIFICATES (REGISTERED) [SSCR]

SPECIAL SAVINGS CERTIFICATES (REGISTERED) [Profit Rates]

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.

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 above individual investors, the following institutions can also 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 (NSC), Pakistan Post Office (PPO), Authorized branches of Scheduled Banks branches  and the offices of State Bank of Pakistan (SBP) 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 is required to be attached with the application form. 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.500/-, however, there is no maximum limit of investment in the scheme.

What About Redemption.

These certificates are encashable at par any time after the date of purchase. However, no profit is payable if the encashment is made before completion of six months.

What Will I Get As Profit.

At prevailing rates, the profit is paid @11.60% p.a. for 1st five profits and @ 12.00% p.a. for the last profit. However, if the profit is not withdrawn on due date it will automatically stand reinvested and would be calculated for further profit on completion of the next 06 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 exceeds Rs.150,000/- by the investor(s). Zakat is collected at source as per rules.