The Central Directorate of National Savings (CDNS) is a state-owned financial institution that provides the citizens of Pakistan with a safe and risk-free investment opportunity at rather competitive interest rates. Be it prize bonds or savings certificates, you can not only deposit your hard-earned money at a nearby National Savings Centre but also earn a profit on your savings on a regular basis.
Since we have already discussed FAQs about Roshan Digital Accounts for overseas Pakistanis and Naya Pakistan Certificates, it was about time we talked about investing in different savings products offered by the government for the residents of Pakistan.
Here is everything you need to know about National Savings Pakistan, including its history, products, profit rates, contact details and more.
About National Savings Pakistan
Owned by the federal government, National Savings is the largest savings bank of Pakistan that is managed by the Central Directorate of National Savings and operates autonomously under the Ministry of Finance. This investment institution obtains funds from individuals across the country and serves as the main source for the government to finance fiscal deficits and infrastructure development.
The history of National Savings goes back to the era of British rule in the subcontinent some 140 years ago in the form of the Government Savings Bank Act in 1873, which allowed the British Government to accumulate funds and meet war expenditures during World Wars I and II. Owing to the effectiveness of this initiative, the Government of India set up the National Savings Bureau (NSB) between 1943 and 1944. Following the independence of Pakistan in 1947, the financial institution remained operational. In 1953, the National Savings Bureau was renamed as the Central Directorate of National Savings.
A few years later in 1960, the government restructured the CDNS as an Attached Department of the Ministry of Finance and made it autonomous to formulate and execute different National Savings Schemes.
Today, the National Savings Pakistan is the most prominent investment and financial institution in Pakistan with a network of 376 branches operating across the country. It also has an impressive portfolio of more than PKR 3.4 trillion and serves more than seven million investors.
Products of National Savings Pakistan
National Savings Pakistan offers various products for all segments of the population depending on their income and savings.
Without further ado, let’s take a look at the products of National Savings Pakistan.
National Savings Certificates
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. These products have different maturity periods and interested rates depending on their type.
Here are the types of Savings Certifications offered by National Savings Pakistan.
Defence Savings Certificates
Defense Savings Certificates or DSCs have a maturity period of 10 years and are available in the denominations of 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.
All Pakistani and foreign nationals are eligible to purchase Defense Savings Certificates.
Behbood Savings Certificates
Behbood Savings Certificates or BSCs have a 10-years maturity period and are available in the denominations of PKR 5000, PKR 10,000, PKR 50,000, PKR 1 lakh, PKR 5 lakh, and PKR 10 lakh.
BSC holders earn a profit on a monthly basis.
The Behbood Savings Certificates can be purchased by Pakistani nationals who are sixty years old or above, windows as long as they don’t remarry, and differently-abled individuals.
Regular Income Certificates
Regular Income Certificates or RICs have a maturity period of five years and are available in the denominations of PKR 50,000, PKR 1 lakh, PKR 5 lakh, PKR 10 lakh, PKR 50 lakh and PKR 1 crore. The RIC holders earn a profit on a monthly basis.
As far as eligibility is concerned, all Pakistani and foreign nationals can purchase these certificates.
Special Savings Certificates
Special Savings Certificates or SSCs have a maturity period of three years and are available in the denomination of PKR 500, PKR 1000, PKR 5000, PKR 10,000, PKR 50,000, PKR 1 lakh, PKR 5 lakh, and PKR 10 lakh. Those holding SSCs receive their profit bi-annually.
Moreover, SSCs can be purchased by all Pakistani and Foreign nationals.
Short Term Savings Certificates
Specially designed to meet the short-term financial requirement of the investors, the Short Term Savings Certificates or STSCs have a maturity period of 3-month, 6-month and 1-year. They are available in the denominations of PKR 10,000, PKR 50,000, PKR 1 lakh, PKR 5 lakh, PKR 10 lakh, PKR 50 lakh and PKR 1 crore.
Those interested in investing in National Savings Pakistan can also open the following accounts at their nearest branch.
- Savings Account
- Pensioners Benefit Account
- Special Savings Account
- Shuhadas Family Welfare Account
Prize Bonds in Pakistan are presently available in the denomination of 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. The National Savings prize bonds draw schedule is also available online.
It is also worth mentioning the rate of tax for filers is 15% of the value of the prize, whereas non-filers have to pay 30% of the prize value.
Premium Prize Bonds
Premium Prize Bonds are available in the denomination of PKR 40,000 and registered in the name of the investor. Along with having quarterly prize draws, these bonds also have a bi-annual profit rate of 3.33%.
National Savings Profit Rates
These are the latest National Savings profit rates in Pakistan as per the announcement made on March 25, 2021.
Defense Savings Certificates: 9.68% per annum
Bahbood Savings Certificates: 11.52% per annum
Regular Income Certificates: 9.36% per annum
Special Savings Certificates: 8.80% per annum
Short Term Savings Certificates: 6.92% per annum
Meanwhile, here are the latest profit rates for the National Savings accounts in Pakistan.
Savings Account: 5.5% per annum
Pensioners Benefit Account: 11.52% per annum
Special Savings Account: 8.80% per annum
Shuhadas Family Welfare Account: 11.52% per annum
Let’s take a look at the address and contact details of the Central Directorate of National Savings in Pakistan.
Address: 23-N, Savings House, G-6 Markaz, Civic Centre, Islamabad
CDNS: 051-9215743, 051-9215747, 051-9215748
National Savings Centre helpline number: 051-9226635, 051-9215741
To find out the address and contact information of the nearest National Savings Centre, please call the helpline above or visit the official website and click on ‘Contact Directory’ from the dropdown Contact menu.
National Savings Timings
These are the timings of National Saving Centres across Pakistan.
Monday to Thursday: 09:00 AM to 2:30 PM
Friday: 09:00 AM to 12:30 PM
Saturday and Sunday: Closed
This brings us to the end of our comprehensive guide on National Savings Pakistan.
If you are interested in learning more about the best opportunities in Pakistan for small-scale investors, stay connected to Zameen Blog – the leading real estate blog in the country that strives to present its readers with the best investment advice and opportunities.