National Savings schemes are where millions of Pakistani families keep their savings, especially retirees who live on the monthly profit. The rates change often. They were cut on 4 September 2026 and raised again on 1 October 2026, so the figure you saw last month may already be out of date.
This guide lists the National Savings profit rates in force from 1 October 2026, explains what each scheme is for and who can invest, shows what the rates mean in rupees, and covers tax and how to invest.
*This article is for information only and is not investment advice. Rates change frequently; confirm the current rate with National Savings before you invest.*
Table of Contents
National Savings profit rates from 1 October 2026
The Central Directorate of National Savings (CDNS) raised rates on several schemes with effect from 1 October 2026. The main rates are:
- Behbood Savings Certificates: 12.72%, up from 12.60%.
- Pensioners’ Benefit Account: 12.72%, up from 12.60%.
- Special Savings Certificates and Special Savings Accounts: 11.82%, up from 11.08%.
- Defence Savings Certificates: 11.80%, up from 11.61%.
- Regular Income Certificates: 11.76%, up from 11.16%.
- Short Term Savings Certificates: 11.31%, up from 11.28%.
These figures were reported by ProPakistani, Profit by Pakistan Today and other outlets from the official notification. For comparison, the State Bank of Pakistan’s policy rate stood at 11.5% after its September 2026 meeting, so several National Savings schemes currently pay more than the central bank’s benchmark.
Why the rates keep changing
National Savings profit rates follow interest rates in the wider economy, especially the yields the government pays when it borrows through treasury bills and bonds. When the State Bank cuts its policy rate, National Savings rates usually fall within weeks; when market yields rise, they go up.
Revised rates normally apply to new investments. If you buy a certificate today, check how the rate applies over its life before you invest, because the terms differ between schemes.
Which scheme is which
Behbood Savings Certificates
Behbood Savings Certificates usually pay the highest rate, but they are not open to everyone. They are meant for senior citizens aged 60 or over, widows and persons with disabilities. Profit is paid monthly, which makes them popular with retirees who need a steady income.
Pensioners’ Benefit Account
This account is for pensioners and pays the same rate as Behbood. Profit is paid monthly. Like Behbood, it is a targeted scheme designed as social support as much as an investment.
Shuhada Family Welfare Account
A targeted account for the families of martyrs, which has historically paid the same rate as Behbood. Ask at a National Savings centre for current terms.
Regular Income Certificates
Regular Income Certificates are open to all Pakistanis and pay profit every month. They suit people who want a monthly income but do not qualify for Behbood. They run for five years.
Special Savings Certificates and Accounts
These pay profit every six months and run for three years. The rate rose the most in the October revision, by 74 basis points to 11.82%.
Defence Savings Certificates
Defence Savings Certificates are a long-term option that runs for ten years. Profit is built up and paid with the principal rather than monthly, so they suit people saving for a future goal, such as a child’s education or marriage, rather than people who need income now.
Short Term Savings Certificates
These are for money you may need within a year. The rate is lower, but your money is not tied up for long.
What the rates mean in rupees
Percentages are hard to picture, so here is what Rs1,000,000 would earn in a year at the October 2026 rates, before tax:
- Behbood Savings Certificates at 12.72%: about Rs127,200 a year, or Rs10,600 a month.
- Regular Income Certificates at 11.76%: about Rs117,600 a year, or Rs9,800 a month.
- Special Savings Certificates at 11.82%: about Rs118,200 a year, paid in two six-monthly instalments.
After 15% withholding tax for a filer, the Regular Income Certificates figure drops to about Rs8,330 a month. A non-filer pays a higher rate of tax and takes home noticeably less, which is why becoming a filer matters for savers too.
Tax on National Savings profit
Tax is deducted at source before profit reaches you. Filers on the Federal Board of Revenue’s Active Taxpayer List pay a lower rate of withholding tax on profit than non-filers. Behbood Savings Certificates and the Pensioners’ Benefit Account are taxed differently from ordinary schemes, with treatment designed to favour pensioners and other eligible groups. Ask the National Savings centre for the rate that applies to your account, and keep the tax certificates for your annual return.
How to invest in National Savings
You can invest at any National Savings centre with your CNIC, and National Savings also offers online services for account holders. Check the official National Savings website for the latest rates, eligibility rules and the documents you need. For Behbood, you will need proof that you qualify, such as your age, a death certificate for widows, or a disability certificate.
Buy only from official National Savings centres or authorised channels. Never hand cash to an agent who promises a better rate.
How to choose: a quick guide by situation
The best scheme depends less on which rate is highest and more on what you need the money for.
- You are 60 or over, a widow or a person with a disability, and need monthly income: Behbood Savings Certificates usually pay the most and pay every month.
- You are retired on a pension: compare the Pensioners’ Benefit Account with Behbood; they currently pay the same rate.
- You need monthly income but do not qualify for Behbood: Regular Income Certificates are the usual choice.
- You are saving for a goal ten years away: Defence Savings Certificates let profit build up until maturity.
- You want a medium-term option with six-monthly profit: Special Savings Certificates or Accounts.
- You may need the money within a year: Short Term Savings Certificates, or a money market fund.
Many families split their savings: part in a monthly-income scheme to cover expenses, part in a longer certificate, and a small emergency amount somewhere easy to withdraw.
Zakat, nominees and paperwork
Some National Savings schemes are subject to compulsory Zakat deduction at source on the first day of Ramadan. If you are exempt, for example because of your school of thought, you can submit a Zakat exemption declaration in the prescribed form; ask your National Savings centre for it well before Ramadan.
When you invest, name a nominee. If something happens to you, the nominee can claim the investment far more easily than heirs who have to prove their right through the courts. It takes a few minutes and saves your family a great deal of trouble.
Keep your certificates, account statements and tax certificates in one safe place, and keep a copy of your CNIC with them. If you change your address or bank account, update National Savings promptly so profit payments are not interrupted.
National Savings vs other options
National Savings schemes are backed by the government, which makes them among the safest places for rupee savings. They are not the only choice, though:
- Bank deposits are convenient but usually pay less.
- Money market mutual funds invest in short-term government debt and bank deposits, often pay rates close to National Savings, and let you withdraw quickly. Our guide to mutual funds in Pakistan explains how they compare.
- Shares can grow faster over the long term but can also fall sharply. See how to invest in PSX.
- Gold protects against a falling rupee but pays no income. See our guide to the gold price in Pakistan.
Overseas Pakistanis can invest in rupee and dollar savings through Naya Pakistan Certificates instead. Our guide to the Roshan Digital Account explains how.
Things to watch out for
- Inflation. A 12% return is only a real gain if inflation is lower. Compare National Savings profit rates with the latest inflation figure.
- Early encashment. Cashing in some certificates before maturity can reduce the profit you receive. Check the rules before you buy.
- Rate changes. Rates can be cut within weeks. If you expect rates to fall, locking in a longer certificate may make sense; if you expect them to rise, shorter options keep you flexible.
- Fraud. Fake “National Savings” schemes circulate on social media. Use only official centres and the official website.
Frequently asked questions
What are the latest National Savings profit rates?
From 1 October 2026: Behbood and Pensioners’ Benefit 12.72%, Special Savings 11.82%, Defence Savings 11.80%, Regular Income 11.76% and Short Term Savings Certificates 11.31%.
Who can invest in Behbood Savings Certificates?
Senior citizens aged 60 or over, widows and persons with disabilities.
Which National Savings scheme pays monthly profit?
Behbood Savings Certificates, the Pensioners’ Benefit Account and Regular Income Certificates pay profit every month.
Are National Savings schemes safe?
They are backed by the Government of Pakistan, which makes the risk of losing your capital very low. The main risk is that inflation reduces the value of your profit.
Do National Savings profit rates change for existing investments?
Revised rates normally apply to new investments. Check the terms of your certificate or account, because the rules differ between schemes.
