Are you looking for the National savings profit rates? Today we will discuss about the National savings profit rates in pakistan.
National savings profit rates 2023
| Value on completion period | Rs 500 | Rs1000 | Rs5000 | Rs10,000 | Rs50,000 | Rs100,000 | Rs500,000 | Rs1million |
| Year 1 | 525.00 | 1050.00 | 5,250.00 | 10,500.00 | 52,500.00 | 105,000.00 | 525,000.00 | 1,050,000.00 |
| Year 2 | 560.00 | 1,120.00 | 5,600.00 | 11,200.00 | 56,000.00 | 112,000.00 | 560,000.00 | 1,120,000.00 |
Introduction
Since Pakistan’s economy is going through a difficult period, people are looking for an opportunity to secure their financial future by making their investments. That’s why people have many options but today we will only talk about those options on which you have guareente of profit and in such a case National Savings Account is on priority basis as the best investment option. This account gives you many benefits which gives you the best opportunity to protect your hard earned savings. Today we will talk about national savings accounts in detail.
Table of Contents
What is a National Saving Account?
National Savings Account is a type of savings account offered by the Government of Pakistan to its citizens. This is the safest and most secure way to get profit from your hard earned money. This account is just like meezan saving account. This account is available for all Pakistanis including overseas Pakistanis.
Benefits of a National Saving Account
The main advantage of National Savings Account is the high interest rate that is provided to you on investments. This means that National Savings Account gives you more profit than any other savings account.
High-Interest Rates
Another big advantage is that the profit you get on your deposits is tax free, meaning you don’t have to pay any tax on it. In this way you save more on your investment and you also avoid tax on profit returns.
Tax-Free Returns
Another big advantage is that the profit you get on your deposits is tax free, meaning you don’t have to pay any tax on it. In this way you save more on your investment and you also avoid tax on profit returns.
Safe and Secure
National Savings Accounts are issued by the Government of Pakistan which means your investment is safe and 100% secure. So you should not worry about the khatron risks like fraud and scam regarding your investment.
Easy Access
You can easily access your National Savings Account from any National Savings Organization (NSO) branch across the country. It gives you easy access to your account and you can easily withdraw your money when needed.
No Minimum Balance Requirement
Another great advantage is that you can avail this service by making a small deposit. That means you don’t need to deposit huge amount. Whereas in other bank accounts you have to follow the minimum balance policy.
Multiple Account Types
When it comes to National Savings Accounts, there are multiple types and each account has its own features and benefits. It allows you to open an account according to your financial goals.
National savings profit rates
There are the following saving interests rate is mentioned below.
| Value on completion period | Rs 500 | Rs1000 | Rs5000 | Rs10,000 | Rs50,000 | Rs100,000 | Rs500,000 | Rs1million |
| Year 1 | 525.00 | 1050.00 | 5,250.00 | 10,500.00 | 52,500.00 | 105,000.00 | 525,000.00 | 1,050,000.00 |
| Year 2 | 560.00 | 1,120.00 | 5,600.00 | 11,200.00 | 56,000.00 | 112,000.00 | 560,000.00 | 1,120,000.00 |
How to Open a National Saving Account
Opening a National Savings Account is very easy and straightforward. You have to follow the following steps to open a National Savings Account.
- You can visit any National Savings Organization (NSO) branch across the country.
- You should fill the account opening form.
- You should submit a CNIC copy and if you are an overseas Pakistani then you should submit a NICOP copy.
- After that you have to provide your address proof like utility bills be it electricity or gas.
- Now deposit an initial deposit and this amount varies with the account (depends on which account you are playing).
- Once the account is opened you will be provided paasbook which will help you to keep your account operational including deposit and withdrawal of money etc.
Conclusion
So it was all about the National savings profit rates.
