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Karachi, Pakistan – September 2024
The Pakistan National Savings has announced changes to its savings instruments, impacting investors and savers. The move follows the State Bank of Pakistan’s recent policy rate cut.
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Understanding the Impact:
The revision in profit rates will affect returns on investment for those holding Regular Income Certificates. Investors seeking steady monthly income streams may need to reassess their investment strategies.
Investment Options in Pakistan:
Regular Income Certificates, launched in 1993, provide a secure savings option for Pakistanis. With flexible denominations and monthly profit payments, RICs remain a popular choice for long-term investments.
Key Details:
– Reduced profit rate on Regular Income Certificates from 14.64% to 14.52% per annum
– Monthly payouts decreased for investors
– Certificates available in denominations from Rs. 50,000 to Rs. 10,000,000
– 5-year maturity period
– Zakat deductions exempted on RIC investments