Qaumi Bachat Bank latest profit rate for Defence Savings Certificates

Qaumi Bachat Bank, also known as the National Savings Organization, holds the position of Pakistan’s largest financial institution with a portfolio exceeding Rs3.4 trillion.

Serving over four million customers across the nation, the bank has been involved in fostering a savings culture and contributing funds for government needs, including budgetary deficits and infrastructure projects.

Among its varied range of offerings, the bank provides Defence Savings Certificates, open to both Pakistani nationals and overseas Pakistanis.

These certificates have a 10-year maturity period and are available in denominations ranging from Rs.500 to Rs.1,000,000.

Interested customers can acquire Defence Savings Certificates by depositing cash, cheques, drafts, or pay orders at the Issuing Office.

Although the certificates can be encashed at any time post-purchase, no profit is payable within the first year. It’s important to note that taxes apply to these certificates.

In a recent development, the bank updated the profit rates for various products, including Defence Savings Certificates. The current profit rate for Defence Savings Certificates is reported to be 14.1%.