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Special Savings Certificate Products Features

Special Savings Certificates (SSCs) with a (maturity period of three years) was launched on February 4, 1990 that offers a unique investment opportunity for small and medium savers to meet their periodic financial needs.
SSCs are available in the denominations 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/-

Profit Payment Period
Profit is payable on the completion of each period of six months up to 3 years from their date of issuance.

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

How to Purchase
SSCs 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). 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 Individuals: Copy of Passport.

Mode of Deposit
SSC 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
SSCs are encashable at any time after the date of purchase. However, no profit is payable if the encashment is made before completion of six months. The Certificates issued/purchased/re-invested on or after November 15, 2010 shall not be re-invested on maturity.

Tax
Filers: 15% on profit earned/realized.

Non-Filers: 30% on profit earned/realized.

Zakat shall be collected at source as per rules.









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