For getting details on Behbood Savings Certificates, here you can know about that! It is the popular saving certificate scheme that is opted for by the senior citizens of Pakistan. With the help of this scheme, it has become easy for them to tackle and face financial hardships with patience. If you have savings and want to invest them, then make them invest in these savings certificates and profit. In addition, this scheme is commonly opted by the widows and also by the senior citizens.
· Rs.5, 000/-
· Rs. 10,000/-
· Rs. 50,000/-
· Rs. 100,000/-
· Rs. 500,000/-
· Rs. 1,000,000/-
However, You can earn a profit every month from the date of purchasing the certificate.
Behbood Savings Certificates
On using Behbood Savings Certificates, they come with a 10-years maturity period. That is the most popular product as introduced by the Government of Pakistan and the national savings center. In addition, these certificates were launched on July 30, 2003. These certificates were only meant for widows in the beginning times, but now this scheme is also opened for senior citizens living in Pakistan. If you are of age 60 years, then you can get these certificates.
From the date of January 1, 2004, these national savings certificates linked with the Behbood category were opened for senior Pakistani citizens. Furthermore, this product is now available for the disabled community as well. So, if you are a widow or senior citizen or if you are disabled, then you can apply in this saving certificate category. So far, these are the three primary categories that are eligible to get these certificates linked with behold category.
To download application form in editable Adobe Acrobat format please click here.
The disabled community can only avail of these national savings certificates if they show NIC along with disability. That is an important element and requirement that makes them eligible to put in their money in these savings certificates. So, suppose you belong to the community of Disables holding NIC that comes with Disability logo, or you belong to the community of Special Minors. In that case, you can register for these savings certificates, and this policy got operational with effect from April 23, 2018.
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For the information, the available denominations for this respective and specific national savings scheme are Rs.5 000/-, Rs. 10,000/-. They are also currently available in the denomination range of Rs. 50,000/-, Rs. 100,000/-, and also in Rs. 500,000/- Rs. 1,000,000/-. If the reader does not understand the concept of denomination, he or she can forward his query, and we will further tell you about this concept. Whether you put your money in any other saving certificate category, all of them are available in the denominations mentioned above.
You might be wondering when profit is paid if you have got these national savings scheme certificates. Here we are going to tell. The profit is paid monthly if you have specifically put in your money in this behbood savings category. Here no bi-annual profit system is followed. When you get the certificates, then the profit will start to get calculated from that time. If you have received these certificates on the 5th of the month, then the profit will be given after 30 days.
To invest in these national savings Pakistan certificates, you have to be a citizen of Pakistan. If you are a senior citizen and 60 years and above, you can register for these saving certificates. In addition, you can be a single-window if you want to put in your money in these savings schemes. Only those widows can apply for these certificates if they intend and promise not to marry again. In this case, you have to submit an affidavit.
Then can apply and register for these savings certificates as well. In this case, you have to show and display your NIC, and if you are a minor, you can open the account through a guardian. We can say that the national savings organization asks the simple eligibility conditions. And if you have more questions on who can get these savings certificates and national savings profit rates 2021, you can let us know.
How much to invest?
If you are a single investor, then the maximum amount you can invest is Rs 5 million and not more than that! This investment limit goes for all of the categories. Like, if you are disabled, or senior citizen, or a widow, you can only invest up to Rs 5 million. The staff of national savings Pakistan will not allow you to exceed this limit, and the minimum investment limit is Rs 5000. That is the official investment limit that you have to remember.
Conclusion
The last important thing about these savings certificates is that you do not have to pay any withholding tax and zakat for this category. You are exempted from both of these categories. You will not be asked to pay the withholding tax and zakat no matter how much profit you get on these savings certificates. If you have more questions on national savings profit rates 2021, you can let us know and share freely.
Investment limit for joint account
On the other hand, if you have made a joint account, the maximum investment limit is Rs 10 million. You cannot exceed this amount. It does not matter if you wish to put in more money in these savings certificates. All in all, you are only allowed to invest up to Rs 10 million, and the staff does not accept the applications if the person wants to invest more than Rs 10 million cases if he has a joint account.
Service charges on encashing certificates
If you encash these certificates right before completion of the maturity period, then service charges will be deducted. If you encash the certificates after one year, then charges will be deducted up to 1%. If you encash them after two years, then 0.75% service charges will get deducted. And for those who encash these certificates after three years, 0.50% service charges have to be paid by you. Encashing after four years, 0.25% service charges will be demanded from you.
