Qaumi Bachat, or National Savings, notified a reduction in the profit rate for its Savings Account (SA) back in September.
Qaumi Bachat Savings Account is one of the oldest and most popular products offered by National Savings. This facility is designed to encourage small savers to invest in a secure manner that supports their day-to-day financial needs.
Pakistani nationals, including those residing overseas, can open Qaumi Bachat Savings Account by individual or joint means. Moreover, adults can open a Savings Account on behalf of minors under their guardianship.
Qaumi Bachat Savings Account minimum investment
Pakistani nationals hoping to open a Qaumi Bachat Savings Account do not require hefty investments because the minimum investment required is Rs100 while there is no cap on maximum investment in National Savings account.
Accounts can be opened at any National Savings Centre (NSC) by completing the DA-I application form, available free of charge at all branches. Depositors have the flexibility to withdraw their funds at any time, though withdrawals are limited to three times per week.
Qaumi Bachat savings account profit rate for October 2024
As of October 23, 2024, there’s no change in Qaumi Bachat Savings Account profit rate, which is 16 per cent per annum.
These adjustments reflect the bank’s ongoing efforts to manage its financial offerings in response to changing economic conditions. Investors and savers are advised to consider these new rates when planning their investments.
