National Savings Pakistan A Comprehensive Guide

National Savings is a state-owned financial institution in Pakistan, established in 1957 to provide a safe and secure investment option for citizens. It offers a range of savings products, including certificates, accounts, and bonds.

The National Savings products are designed to cater to different needs and risk appetites, from low-risk savings schemes to higher-yielding investment options. This flexibility is one of the reasons why National Savings is a popular choice among Pakistanis.

One of the key benefits of National Savings is its guaranteed returns, which provide a sense of security and stability to investors. This is particularly important in a country where financial markets can be volatile.

National Savings has a wide network of branches and agents across Pakistan, making it easily accessible to people from all walks of life.

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The history of National Savings in Pakistan dates back to the British Raj when the Government Savings Bank Act, 1873 was promulgated.

The organisation was initially used by the British government to raise funds during the First and Second World War, and after Pakistan gained independence in 1947, it continued to operate as the National Savings Bureau (NSB).

In 1953, the organisation was renamed to Central Directorate of National Savings (CDNS), and in August 1960, it was given the status of an "Attached Department" of the Ministry of Finance.

The present structure of CDNS was set up in early 1972 under the Ministry of Finance.

The government decided to turn National Savings Organisation into a corporation in August 2019, and relevant legislation, the Pakistan Savings Bill 2019, is being finalized.

The prize bond scheme was launched with a Prize Bond of Rs 100, and has since expanded to include six different bond denominations.

The National Savings Organisation in Pakistan has a rich history that dates back to the British Raj when the Government Savings Bank Act, 1873 was promulgated.

During this time, the British government used the then National Savings Bureau (NSB) to raise funds to meet war-related expenses, especially during the First and Second World War.

The organisation continued to operate as NSB after Pakistan acquired independence in 1947.

In 1953, it was renamed to Central Directorate of National Savings (CDNS), marking a significant change in its name.

The CDNS was given the status of an "Attached Department" of the Ministry of Finance in August 1960, with responsibility for all policy matters and execution of various National Savings Schemes (NSS).

The present structure of CDNS was set up in early 1972 under the Ministry of Finance.

The prize bond scheme was launched with a Prize Bond of Rs 100, which has been expanded over time to include six different denominations.

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The National Savings scheme has undergone significant growth and development over the years. In 1975, the scheme was introduced to mobilize small savings of the common man.

The NSC was initially introduced with a 10-year tenure and a 7% interest rate. This rate was later increased to 8% in 1982, making it a more attractive option for investors.

The introduction of the Public Provident Fund (PPF) in 1968 marked a significant milestone in the development of National Savings. PPF was designed to encourage long-term savings among citizens.

The PPF scheme offered a fixed interest rate of 5% per annum, which was a significant improvement over other savings options available at that time.

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National Savings (Pakistan) offers various investment options to cater to different needs and preferences.

The Pakistan Bazaar is a popular investment option that allows individuals to purchase bonds and other securities. It provides a safe and secure way to invest in the stock market.

Investors can also opt for the Prize Bond Scheme, which offers a range of bond denominations and prizes. The bonds are sold through a network of agents and post offices across the country.

Investing in National Savings is a great way to save for the future and earn a return on your investment.

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Premium Prize Bonds are available in the denomination of PKR 40,000 and are registered in the name of the investor.

These bonds offer a unique feature - quarterly prize draws, which give investors a chance to win big.

In addition to the prize draws, Premium Prize Bonds also offer a bi-annual profit rate of 3.33%.

This means that investors can earn a decent return on their investment, making it a worthwhile option for those looking to grow their wealth over time.

Regular Income is a great option for those looking for a stable return on investment.

You can earn a profit on a monthly basis from Regular Income Certificates.

The maturity period for RICs is five years.

This makes it a good choice for those who want to invest for the long-term.

RICs are available in various denominations, including PKR 50,000, PKR 1 lakh, PKR 5 lakh, PKR 10 lakh, PKR 50 lakh, and PKR 1 crore.

This means you can choose the amount that suits your investment goals.

All Pakistani and foreign nationals can purchase Regular Income Certificates.

This makes it accessible to a wide range of investors.

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The Short Term Savings Certificates have a maturity period of 3-month, 6-month and 1-year.

These certificates are available in various denominations, including PKR 10,000, PKR 50,000, PKR 1 lakh, PKR 5 lakh, PKR 10 lakh, PKR 50 lakh and PKR 1 crore.

They are specially designed to meet the short-term financial requirements of investors.

Investors can choose the maturity period and denomination that suits their needs.

This option provides a relatively low-risk investment opportunity for those who need to save for short-term goals.

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Digitalization has significantly contributed to financial inclusion in Pakistan, with the National Savings (Pakistan) playing a crucial role. The National Savings has been at the forefront of digitalization, introducing various initiatives to promote financial inclusion.

With the introduction of the online platform, citizens can now access their accounts and make transactions from the comfort of their homes. This has increased accessibility and convenience for the masses.

The National Savings has also launched mobile banking services, allowing customers to perform transactions on their mobile phones. This has further expanded the reach of financial services in rural and underserved areas.

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The National Savings has also introduced the concept of e-Savings, which allows citizens to open and manage their savings accounts online. This has made it easier for people to save and manage their finances.

The National Savings has also partnered with banks to provide financial services to the unbanked population. This has helped in increasing financial inclusion and promoting economic growth.

The digitized platform has also enabled the National Savings to provide financial literacy and awareness programs to citizens. This has helped in promoting financial inclusion and empowering citizens to make informed financial decisions.

National Savings (Pakistan) is a government-owned organization that offers a range of savings products to the public.

It was established in 1975 to promote a culture of savings among the people of Pakistan.

The organization's main objective is to mobilize savings and channel them into productive sectors of the economy.

One of its key products is the Prize Bond, which was first introduced in 1968.

Prize Bond is a type of savings instrument that offers a chance to win cash prizes.

The organization also offers various types of certificates, such as the National Savings Certificate and the Savings Account.

These certificates are designed to provide a safe and secure way to save money over a fixed period.

The National Savings Certificate is a type of fixed deposit that offers a fixed rate of return.

The Savings Account is a type of savings account that offers a higher rate of interest than a regular savings account.

The organization has a wide network of branches across the country, making it easily accessible to the public.

Its services are also available online, allowing customers to access their accounts and make transactions from the comfort of their own homes.

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National Savings Pakistan offers various products for all segments of the population depending on their income and savings.

The organization caters to different segments of the population, providing a range of products that suit their needs.

National Savings Pakistan has products for all, making it a convenient option for people to manage their finances.

National Savings Certificates are a fixed income investment product offering unique investment opportunities to small and medium savers.

These certificates allow holders to earn a predetermined profit during a certain period of time. They have different maturity periods and interest rates depending on their type.

National Savings Certificates have different types offered by National Savings Pakistan, catering to various investment needs and goals.

If you're interested in investing in National Savings Pakistan, you can open various accounts at their nearest branch.

One of the accounts you can open is a Savings Account, which is a great option for those who want to save money over time.

You can also consider opening a Pensioners Benefit Account, which is specifically designed for pensioners.

Another option is the Special Savings Account, which offers a unique set of features and benefits.

Additionally, you can open a Shuhadas Family Welfare Account, which is a special account designed to support the families of martyrs.

Here are the accounts you can open at National Savings Pakistan:

Prize Bonds are available in various denominations, including PKR 100, PKR 200, PKR 750, PKR 1,500, PKR 7,500, PKR 15,000, and PKR 25,000.

The official website of National Savings Pakistan features a prize bond search function, making it easy to find and manage your bonds.

You can check the National Savings prize bonds draw schedule online to stay up-to-date on upcoming draws.

The tax rate for prize bonds varies depending on your filing status, with filers paying 15% of the prize value and non-filers paying 30%.

Premium Prize Bonds are a unique option, available in the denomination of PKR 40,000 and registered in the name of the investor.

These bonds offer quarterly prize draws and a bi-annual profit rate of 3.33%, providing a potential return on investment.

National Savings Pakistan offers various products for all segments of the population depending on their income and savings.

National Savings Pakistan offers a range of products to cater to the diverse needs of its customers.

One of the key products offered by National Savings Pakistan is its various savings schemes.

These schemes are designed to help individuals save money for their future goals.

The profit rates for National Savings schemes in Pakistan have been revised multiple times. The latest revision was made on August 07, 2024, and affected several investment types.

Some National Savings schemes have seen significant reductions in profit rates. For example, the profit rate for Sarwa Islamic Savings Account (SISA) was reduced by 150bps, from 20.50% to 19.00%.

The profit rates for Defence Savings Certificates and Bahbood Savings Certificates remain unchanged at 13.57% and 15.36%, respectively. These rates were announced on May 14, 2024.

Here's a breakdown of the changes in profit rates for some National Savings schemes:

The profit rates for some schemes, such as Regular Income Certificates and Pensioner Benefit Account, remain unchanged.

National Savings operates on a specific schedule that's convenient for most people.

You can visit National Savings Centres on weekdays, from Monday to Thursday, between 09:00 AM and 2:30 PM.

The timings are perfect for those who have a morning routine and want to manage their time wisely.

National Savings Centres are closed on weekends, so plan your visits accordingly.

You can invest in Defense Savings Certificates for a 10-year period, available in various denominations including PKR 500, PKR 1000, PKR 5000, PKR 10,000, PKR 50,000, PKR 1 lakh, PKR 5 lakh, and PKR 10 lakh.

The minimum investment amount for these certificates is PKR 500, while there is no cap on the maximum amount you can invest.

All Pakistani and foreign nationals are eligible to purchase Defense Savings Certificates, making it a widely accessible investment option.

Behbood Savings Certificates are a unique financial instrument available to eligible Pakistani nationals. They have a 10-year maturity period and come in denominations ranging from PKR 5000 to PKR 10 lakh.

BSC holders can earn a profit on a monthly basis, which is a great benefit for those who invest in these certificates.

Special Savings Certificates are a type of investment available to all Pakistani and foreign nationals.

They come in various denominations, including PKR 500, PKR 1000, PKR 5000, PKR 10,000, PKR 50,000, PKR 1 lakh, PKR 5 lakh, and PKR 10 lakh.

The maturity period for these certificates is three years.

Those holding Special Savings Certificates receive their profit bi-annually.

The Defence Savings Certificates offer a 10-year maturity period, allowing you to plan your finances for the long term.

These certificates are available in various denominations, including PKR 500, PKR 1000, PKR 5000, PKR 10,000, PKR 50,000, PKR 1 lakh, PKR 5 lakh, and PKR 10 lakh.

The minimum investment amount is PKR 500, making it accessible to a wide range of investors.

There is no cap on the maximum amount you can invest, giving you the flexibility to put in as much as you want.

All Pakistani and foreign nationals are eligible to purchase Defence Savings Certificates, making it a great option for people from all walks of life.