National Saving Profit Rates: A Comprehensive Guide to Understanding Your Investment Options 2023.

Introduction to National Savings 2023

National Savings, as it stands today, is one of the ancient institutions in the country with a legacy of more than 140 years that came into existence with the promulgation of the Government Savings Bank Act in 1873. During World Wars I and II, the British Government used this channel to raise funds to meet war-related expenditures.

Given the effectiveness and net benefits of these initiatives, the idea of institutionalizing the savings culture was materialized by setting up a National Savings Bureau (NSB) in 1943-44 as an attached department of the undivided Government of India.

Since acquiring independence in 1947, this organization has remained operational in Pakistan in various forms.

The Bureau was renamed as Central Directorate of National Savings (CDNS) in 1953, with its functions and responsibilities in line with the NSB.

Turning Point for National Savings

In September 1960, it was decided to rejuvenate the structure of CDNS by declaring the status of an Attached Department of the Ministry of Finance with the powers to formulate policies and execute various National Savings Schemes (NSS).

These continuous advancements made it essential for the Government to reposition the CDNS as a Technical Department and confer all the Head of the Department powers to the Director-General (D.G.) working in BPS-21.

The year 1972 came as a turning point in the long journey of National Savings, whereby the organization was made responsible for all policy matters and execution of various NSS.

However, the operations of National Savings before December 1971 were limited to publicity and promotion of the investment schemes it offered.

Regional Directorates of National Savings

So far, CDNS has remained successful in promoting financial savings in the economy and has also generated requisite funds for the Government to finance the budgetary deficit and infrastructure projects.

As a custodian of the nation’s savings, the National Savings is the most significant investment and financial institution in Pakistan, with a portfolio of over Rs. 3.4 trillion and more than 04 million valued investors are being served through an extensive network of 376 branches nationwide controlled by 12 Regional Directorates of National Savings (RDNS).

Official links to National Savings

Official Website
Call Centre051-9226635, 051-9215741
CDNS051-9215743, 051-9215748
Complaints Resolution Cell (CRC)051-9215747
Email[email protected]

People Also Ask About National Savings

  1. Q1: Is the investment made in National Savings Schemes(NSS) secure?

    Ans: Yes, the investment made in NSS is fully guaranteed by the Government of Pakistan.

  2. Q2: What are the standard documents required for investment in NSS?

    Ans: Application Form, available free of cost from all NSCs.
    Documents Required along with Application Form
    Adult Pakistanis
    A copy of the Computerized National Identity Card (CNIC)
    Overseas Pakistanis
    A copy of the National Identity Card for Overseas Pakistanis (NICOP) or Pakistan Origin Card (POC)
    A copy of Form B or Child Registration Certificate (CRC) as issued by NADRA.

  3. Q3: What are standard modes of investment?

    Ans: Cash/cheque/ bank draft/ pay-order are the standard modes of investments.

  4. Q4: What is the difference between Joint-A and Joint-B type investment?

    Ans: The National Savings Schemes provide the facility of joint investment for two persons. There are two different types, i.e., Joint-A and Joint-B. In the case of Joint-A deposits, the encashment is payable to the holders jointly or to either with the written consent of the other. In the case of Joint-B, either investor can withdraw/ encash the profit principle under their signature.

  5. Q5: What is the procedure to invest in NSS from abroad?

    Ans: Investment from abroad can be made through Bank Draft/ Cheque in any foreign currency in favor of our office(s) along with the Application Form duly filled in and the copies of Passport/ CNIC/NICOP/POC.

    The clearance period for the Bank Drafts prepared in Pak Rupee from abroad is shorter than that in foreign currency. Therefore, it would be more appropriate if it is payable in the same city where the investment is made.

    The investment in the NSS is maintained and expressed in Pak Rupee only. However, the amount received in foreign currency is converted into Pak Rupees on the prevailing official exchange rate through normal banking channels for investment in National Savings Schemes.

    Moreover, the principal and profit accrued on a certificate issued against foreign exchange received through remittance shall be payable abroad to the purchaser in foreign exchange, if desired by the investor. For this purpose, the expected amount shall be converted into the selected currency at the official exchange rate prevailing at the time of conversion/payment.

  6. Q6: What is the Procedure for Issuing a Duplicate Certificate in case of loss or theft?

    Ans: Loss after Issue – Issuance of Duplicate in Lieu thereof.

    If a person(s)reports that a certificate(s) has been lost or stolen, the following procedure for the issue of the duplicate certificate will be followed:-

    (i) The purchaser(s) shall be required to furnish an application setting forth the particulars of the certificate(s) and the circumstances leading to its loss.  If the certificate(s) reported having been lost etc., were issued in joint names, the application shall be signed by both the holders. The said application shall be present in person and shall be diarized immediately. In addition, necessary entries regarding loss of the certificate(s) shall be made in red ink in bold letters in the relevant record, i.e., the applicant register and Register of Lost Certificates, etc., under the joint signatures of the Centre Officials.
    (ii) after that, the investor shall be required to furnish the following documents:-
    (i) An attested photocopy of the Computerized National Identity Card.
    (ii) A legible certified copy of the FIR lodged with the police authorities or of Roznamcha report concerning the lost certificate(s) if valuing more than Rs.10,000/-.
    (The genuineness of the FIR / Roznamcha report may be verified by the Officer in Incharge, NSC/RDNS from the concerned police station).
    (iii) Previous Zakat& W.H. Tax receipts, if any, showing collection of Zakat / Tax on the said certificate(s).
    (iv) A photocopy of un-used profit coupons of profit coupon book issued if any.
    (v) A copy of faith and fiqh declaration already furnished by the certificaCentre holder to the Centre, if any.
    (vi) A copy of the receipt showing deposit of prescribed fee for issue of duplicate certificate(s) into NSC.
    (vii) Indemnity Bond executed by the applicant on a stamp paper for the practical value with one approved surety and also signed by two witnesses and attested by the Oath Commissioner / Notary Public. A bank guarantee may also be accepted in this respect. However, in the cases where the principal (face) value of the lost certificate(s)does not exceed Rs. 1,000,000/- (Rupees One Million only) an officer of BS-17and above any Federal Government, Provincial Government, Government of Azad Jammu & Kashmir, Armed Forces, Semi-Government and Autonomous Government Bodies shall stand surety to the satisfaction of the Officer in Incharge of the concerned NSC.
    Note:-(The executants of the indemnity bond will get it countersigned from a Magistrate 1st Class after attestation by the Notary Public. The financial position of the surety in the indemnity bond may also be firmed up).
    (viii) Any other document or evidence if deemed necessary by and to the satisfaction of the controlling officer.
    (iii) All the documents shall be scrutinized for their efficacy and completeness in all respects. It shall be ensured that the certificate(s) are neither already encashed nor transfer center other Centre. It shall also be verified that the particulars of the purchaser and the investment tally with those on record.
    (iv) The identity of the purchaser shall be established. Besides, signatures of the purchaser on the above application shall be verified concerning the signature on record availaCentreth the Centre, and the fact of such verification shall be recorded on the said application by the two signatories of the National Savings Centre.
    (v) The receipt of the application shall be acknowledged through registered mail addressed to the purchaser at his address given on the original application from under joint signatures of the center Incharge and the second officer/official asking him to contact the NSC after one month along with the acknowledgment.
    (vi) After ensuring the genuineness of the report of loss, the identity of the investor, non-encashment / non-transfer of the certificate(s) earlier, and having made all the entries in the relevant record, the case shall be referred to the Controlling Officer, Regional Directorate under the Joint signatures of the Centre Incharge and the second officer/official. The Controlling Officer may make such investigation and queries as deemed fit and, having satisfied as to the completeness of formalities, etc., shall allow issuance of a duplicate certificate. A copy of the authority so issued shall also be sent to the investor concerned for information. As provided under the rules, duplicate certificate(s) shall not be issued before the expiry of one month from the date of the application.
    (vii) On receipt of the permission/authority for issue of duplicate cert center, the center will note its number and date on the original application for purchase in the Remarks Column and Register of Lost Certificate and issue duplicate certificate(s), after obtaining a new application for purchase of certificates whereinPaymentde of Payment shall be indicated as “In lieu of lost certificate(s) issued under registration No.______ dated_____ sanctioned vide Authority No.________ dated_____”. On the face of the certificate, the words “Duplicate issued in lieu of Registration No. ______ dated______ reported to have been lost or stolen” will be written prominently.
    (viii) The coupons about the period for which profit has already been paid shall also be canceled and attached with the sanction/authority letter to issue the new certificate. Furthermore, if not lost, the already printed profit coupon book shall be canceled, and the new profit coupon book under new registration No. shall be published.
    (ix) An entry of discharged certificate(s) reported as lost shall also be made in the discharge journal as usual, i.e., with the total value of the certificate(s) and the remarks “Sanctioned vide RDNS letter/sanction No.______ dated _______” shall be recorded in the remarks column.
    (x) The entry in the stock register and issue journal of the certificate shall be made as is done in the case of certificate issue in exchange. In addition, the number and date of the authority for issuance of the duplicate certificate shall be entered in the Remarks Column of the Stock Register and the Issue Journal.

    a. The duplicate certificate(s) shall be encashable at paymPaymentmentPaymentyment encashment of duplicate certificate(s) shall be made through “Account Payee Crossed” Government Cheque only.
    c. The particulars of such lost certificate(s) will not be circulated to other offices. However, the lost certificate(s) specifics shall continue to be enRegister the Register of lost certificates.
    d. Since there is a bar on the issue of duplicate SSC (Bearer), no remarks regarding loss, etc., if reported or requested, the certificate will be recorded in the relevant record.

    Indemnity Bond for Issuing Duplicate Certificate(s) is attached. Get Here.


  7. National Saving Profit Rates of 2023

    1: Defense Saving Certificate Historical Profit Rates
    Click to Download

    2: Savings Account Historical Profit Rates
    Click to Download

  8. National Savings Profit Rates on 1 lac in 2023

    Here is a list of monthly profit rates for 1 lac in National Savings Pakistan. You can download the complete list using the provided link:

    Download Link: Get Profit Rates for 1 Lac

    Please note that the profit rates are subject to change by National Savings Pakistan, and you should confirm the current rates before making any investment decisions.

  9. What is the interest rate for National Saving Certificate 2023?

    You can download the PDF file for National Savings interest rates from our blog by clicking on the following link.

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