The government has announced revisions to the profit rates on its National Savings Schemes (NSS), alongside changes to the withholding tax rates applicable to both tax filers and non-filers, as per an official notification.
Under the new structure, the profit rate for Regular Income Certificates has been set at 12.24 percent, while Special Savings Accounts will now yield an average return of 12.4 percent. Notably, the profit rates for Behbood Savings Certificates, Pensioners’ Benefit Accounts, and Shuhada Family Welfare Accounts remain unchanged at 13.20 percent.
In a significant development, returns on all Defence Savings Certificates, covering maturities from one to ten years, have been revised upwards. Similarly, the government has increased profit rates for Short-Term Savings Certificates across various tenures. Specifically, three-month certificates will now offer 11.4 percent, six-month certificates 11.66 percent, and one-year certificates 11.77 percent returns.
Meanwhile, profit rates for Sarwa Islamic Term Accounts have been fixed at 11.88 percent for both one-year and two-year terms. Along with these adjustments, the government has updated its tax policy related to National Savings Accounts.
A withholding tax of 15 percent will be imposed on registered tax filers, whereas the rate for non-filers has been reduced from 35 percent to 30 percent. Additionally, a standard Zakat deduction of 2.50 percent will apply to all National Savings Accounts, as outlined in the notification.
