The Central Directorate of National Savings (CDNS) has increased profit rates across several major savings instruments, introducing revised returns for conventional, welfare-oriented and Islamic products effective October 21, 2026. The changes cover Special Savings Certificates, Special Savings Accounts, Regular Income Certificates, Defence Savings Certificates, pensioner and welfare schemes, short-term certificates and selected Shariah-compliant savings products. The revised rates provide updated returns for individuals who use government-backed savings instruments to manage their savings and generate periodic income. However, the changes are not uniform across all products, as standard Savings Accounts have retained their existing rate.
Under the revised structure, Special Savings Certificates (SSC) and Special Savings Accounts (SSA) have received higher returns. The annual profit rate for the first five profit payments has been set at 12 percent, equivalent to Rs6,000 for every Rs100,000 invested over a six-month period. The sixth and final profit payment carries a rate of 12.80 percent, corresponding to Rs6,400 per Rs100,000 for the applicable six-month payment. These instruments provide savers with a structured payment schedule, allowing them to plan their income according to the terms of the product. The revised rates distinguish between the regular profit payments and the final payment, making it important for investors to understand the applicable schedule when estimating total returns.
Regular Income Certificates (RIC) have also recorded an increase, with the annual profit rate rising by 36 basis points to 12.12 percent. Under the revised rate, an investment of Rs100,000 generates a monthly payment of approximately Rs1,010, compared with Rs980 under the previous rate of 11.76 percent recorded on October 1, 2026. The increase improves the stated monthly return for individuals who depend on regular income from their savings. Since these certificates are structured around periodic payments, the revised rate may be particularly relevant for investors who plan their household expenditure around predictable income, subject to the product’s terms and applicable deductions.
Welfare-oriented savings schemes have also received higher rates. The profit rate for Behbood Savings Certificates (BSC), the Pensioners Benefit Account (PBA) and the Shuhada Family Welfare Account (SFWA) has increased by 24 basis points to 12.96 percent per annum, up from 12.72 percent on October 1. Under the revised rate, an investment of Rs100,000 provides a monthly profit payment of Rs1,080, compared with Rs1,060 previously. These schemes serve specific eligible groups under their respective rules, including pensioners, eligible senior citizens and families covered by designated welfare arrangements. The higher rate increases the stated periodic income for eligible account holders, although the amount received after deductions may differ from the gross profit.
Defence Savings Certificates (DSC) follow a cumulative profit structure in which returns build over the investment period. Under the published schedule, cumulative profit begins at 10 percent in the first year and reaches 215 percent in the tenth year. The cumulative figures for the intervening years are 21 percent in Year 2, 34 percent in Year 3, 49 percent in Year 4, 67 percent in Year 5, 88 percent in Year 6, 113 percent in Year 7, 142 percent in Year 8 and 176 percent in Year 9. This structure differs from products that provide monthly or six-monthly payments, as investors need to consider the holding period and the applicable maturity terms when assessing the potential return.
Short Term Savings Certificates (STSC) have also been adjusted across three investment periods. The three-month certificate offers an annual profit rate of 11.12 percent, equivalent to Rs2,780 on an investment of Rs100,000 over the three-month term. The six-month certificate carries an annual rate of 11.50 percent, providing Rs5,750 per Rs100,000 for the six-month period. The one-year certificate offers a rate of 11.72 percent, corresponding to Rs11,720 per Rs100,000 over one year. These options provide different maturity periods for savers who may prefer to commit their funds for shorter durations rather than selecting longer-term savings instruments. Investors should compare the stated rates alongside maturity conditions and access to their funds before choosing a certificate.
In contrast, the rate on standard Savings Accounts (SA) remains unchanged at 10 percent per annum. This means the latest revision does not increase returns across every product offered through the national savings framework. The difference between the unchanged standard account rate and the revised rates on other instruments highlights the importance of comparing individual products rather than relying on a single headline figure for the entire savings market. Eligibility, payment frequency, maturity periods and withdrawal conditions can all affect which option is appropriate for a particular saver.
The revised schedule also includes increases in Shariah-compliant savings instruments. The Sarwa Islamic Term Account (SITA) now offers a rate of 12.12 percent per annum for its five-year tenor, with a stated monthly payment of Rs1,010 per Rs100,000. The three-year tenor has increased to 12.10 percent, corresponding to Rs6,050 per Rs100,000 on a six-monthly basis. Both rates have risen from the respective levels of 11.70 percent and 11.57 percent recorded on October 1. The one-year SITA carries an expected rate of 11.84 percent, equivalent to Rs11,840 per Rs100,000 at maturity. These figures are presented under the revised schedule, with investors needing to review the applicable terms of each account.
The Sarwa Islamic Savings Account (SISA) has also been revised upward to an expected annual rate of 11.84 percent. Under the announced structure, an investment of Rs100,000 corresponds to an expected monthly payout of approximately Rs973.15. The revised rates extend the changes to savers seeking Islamic savings options alongside conventional National Savings products. As with other savings instruments, the stated expected return should be considered alongside the product’s specific conditions and the applicable tax and deduction requirements.
CDNS has stated that profit payments remain subject to withholding tax of 15 percent for tax filers and 30 percent for non-filers. A 2.5 percent Zakat deduction also applies where relevant. These deductions affect the amount investors ultimately receive, meaning that the published profit rates represent gross returns rather than necessarily the final net income. Savers should account for their tax status and applicable deductions when comparing different products and calculating expected proceeds.
The revised rates, effective October 21, 2026, provide updated income terms across a broad range of Pakistan’s National Savings instruments. While several certificates, welfare schemes and Islamic products now carry higher stated returns, the standard Savings Account rate remains unchanged. For investors, the key considerations include the applicable profit rate, payment frequency, investment duration, eligibility requirements and deductions. Comparing these factors can help savers understand how the revised CDNS schedule affects their expected income and select products that correspond with their financial requirements.
Follow the PakBanker Whatsapp Channel for updates across Pakistan’s banking ecosystem.