Qaumi Bachat Bank Profit Rates 2024 has been announced by bank for savings on defence savings certificates and on other investments. Qaumi Bachat Bank also known as the National Savings Organization stands tall as Pakistan largest financial institution. With a portfolio exceeding Rs 3.4 trillion, it serves over four million customers nationwide playing a crucial role in both promoting a savings culture and supporting the government’s financial needs.
Contributing to National Development:
Qaumi Bachat Bank’s impact extends far beyond individual savings accounts. It actively contributes to Pakistan’s development by:
- Bridging the budget gap: The bank’s funds help the government cover budgetary deficits ensuring essential services and infrastructure projects can be financed.
- Funding crucial infrastructure: By channeling savings into national development, Qaumi Bachat Bank plays a vital role in building roads, bridges, and other vital infrastructure that drives economic growth.
Defence Savings Certificates:
Among its diverse offerings, Qaumi Bachat Bank’s Defence Savings Certificates (DSCs) provide a secure and attractive investment option for both Pakistani nationals and overseas Pakistanis. These certificates offer:
- 10-year maturity period: Providing a stable long-term investment horizon.
- Flexible denominations: Ranging from Rs.500 to Rs.1,000,000, catering to different investment needs.
- Convenient purchase options: Cash, cheques, drafts, and pay orders are accepted at Issuing Offices.
- Early encashment penalty: While the certificates can be encashed anytime, no profit is earned within the first year.
- Tax applicability: Zakat is deducted at the time of encashment on the principal amount.
Latest Profit Rates:
In a recent move, Qaumi Bachat Bank revised the profit rates for various products, including DSCs. The current profit rate for DSCs is a competitive 14.1%, making them an even more appealing investment option.
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Investing in Pakistan’s Future:
By choosing Qaumi Bachat Bank’s Defence Savings Certificates, you’re not just securing your own financial future but also contributing to the development and prosperity of Pakistan. As compared to other banks, Qaumi Bachat Bank Profit Rates 2024 are low on saving certificates. The bank should increase profit rate upto 20%.
