State Bank of Pakistan Banking Services Corporation

Government of Pakistan introduced Defence Savings Certificates (DSCs) scheme in the year 1966. The scheme has specifically been designed to meet the future requirements of the investors with a maturity period of 10 years. It is available in the denomination of Rs.500/-, Rs.1000/-, Rs. 5,000/-, Rs. 10,000/-, Rs. 50,000/-, Rs. 100,000/-, Rs. 500,000/-, and Rs. 1,000,000/-

Who Can Invest

All Pakistani Nationals as well as Foreign Nationals can purchase DSCs being a single adult, a minor or two adults jointly where the payments can be received either by both jointly (Joint-A) or any one of the holders (Joint-B). An adult can also purchase DSCs on behalf of a single minor, two minors jointly or as a joint with a minor.

How to Purchase

DSCs can be purchased from any National Savings Centre (NSC), Pakistan Post Office (PPO) or authorized branch of a Scheduled Bank and the State Bank of Pakistan (SBP) by filling in the SC-1 (Application form), available free of cost from all the above issuing offices. Documents Required with Application Form:

• For Adult Pakistanis: Copy of CNIC
• For Overseas Pakistanis: Copy of NICOP or Pakistan Origin Card
• For Minors: Copy of Form B or Child Registration Certificate Issued by NADRA
• For Foreign Nationals: Copy of Passport

Mode of Deposit

DSC can be purchased by depositing cash at the Issuing Office or by presenting a cheque/ draft/ pay-order. The Certificate shall be issued immediately against the cash payment. However, in the case of deposit through cheque/ draft/ pay-order, the Certificate shall be issued with effect from the date of realization of the cheque/ draft/ pay-order after receiving the clearance advice.

Investment Limit

Minimum: Rs.500/-
No maximum investment limit.

Encashment

DSCs are encashable at any time after the date of purchase. However, no profit is payable if encashment is made before completion of one complete year. DSCs issue/purchase/re-invested on or after November 15, 2010 shall not be re-invested on maturity.

Tax

Filers: 15% on profit earned/realized.
Non-Filers: 35% on profit earned/realized.
Zakat shall be collected at source as per rules.