The Savings Account can be opened at any National Savings Centre (NSC) and Pakistan Post Office (PPO) by filling in the DA-I (Application Form), available free of cost from all the above-mentioned issuing offices.

Documents Required with the Application Form

Adult Pakistanis

• A copy of the Computerized National Identity Card (CNIC)

Overseas Pakistanis

• A copy of National Identity Card for Overseas Pakistanis (NICOP) or Pakistan Origin Card (POC)

Minor

• A copy of Form B or Child Registration Certificate (CRC) as issued by NADRA

Institutional Investors

• An attested copy of NTN Certificate or Institutional Registration Certificate (IRC).

Foreign Nationals

• A copy of the Passport

To download application form in editable Adobe Acrobat format, please click here.

The Savings Account can be opened by depositing cash/ cheque/ draft/ pay-order at any National Savings Centre (NSCs) or Pakistan Post Office (PPO). However, in case of deposit through cash, the Account shall be opened immediately on the same date, whereas, in case of deposit through cheque/ draft/ pay-order, the Account shall be opened from the date of the realization of such cheque/ draft/ pay-order after receipt of realization advice.

• Minimum: Rs.500/-
• No maximum investment limit
• One Account can be opened by one person at an office of issue

The deposits can be withdrawn any time following the date of the deposit. However, investor can withdraw his amount thrice a week.

Profit in the Savings Account is credited on 30th June every year and is calculated by adding together the minimum balances between the close of 6^th day and end of each month and by working out profit for one month on the total amount at the prescribed rates.

For rates click here.

The rate of tax to be deducted shall be as follows;

• Filers: In case the payable profit is Rs 500,000/- or above ,the rate shall be 15% on such profit.however in case profit is less than Rs 500,000/- the rate of WHT shall be 10% of the yield/profit.
• • Non-Filers: In case the payable profit is Rs 500,000/- or above ,the rate shall be 30% on such profit.however in case profit is less than Rs 500,000/- the rate of WHT shall be 15% of the yield/profit.

  Zakat is applicable as per rules.