REGULAR INCOME CERTIFICATES

REGULAR INCOME CERTIFICATES [Profit Rates]

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.