National Savings profit rates September 2026: every scheme, per lakh, after the cut

National Savings profit rates were cut again on 4 September 2026. The Central Directorate of National Savings (CDNS) lowered every scheme except the ordinary Savings Account, which stays at 10.00%. Below is every rate now in force, what Rs 100,000 earns you in each scheme, who can invest, and the mistakes that cost savers money.

All figures are from the CDNS rate sheets dated 4 September 2026 at savings.gov.pk.

National Savings profit rates from 4 September 2026

How much the September cut costs you

The monthly-income schemes fell for the second time in two months:

• Behbood, PBA and SFWA: Rs 1,100 per lakh until 17 July, Rs 1,080 until 3 September, Rs 1,050 now. On Rs 1 million that is Rs 10,500 a month, down from Rs 11,000 in early July.
• Regular Income Certificate: Rs 1,020 per lakh until 17 July, Rs 960 until 3 September, Rs 930 now. On Rs 1 million: Rs 9,300 a month before tax.
• Defence Savings Certificate: Rs 100,000 now grows to Rs 300,000 over ten years, against Rs 309,000 under the July sheet.

CDNS publishes its rates by period ("from" and "to" dates), and the new figures apply from 4 September. Before you cash in an older certificate to reinvest, ask your National Savings Centre which rate your existing certificate earns: breaking it early may cost more than the cut.

These cuts follow the fall in market interest rates. Track the benchmark on our KIBOR page and the SBP policy rate.

Which scheme fits you

• Retired, 60 or older, a widow or a person with a disability: Behbood Savings Certificate pays the highest rate on offer, monthly. Minimum Rs 5,000, maximum Rs 7.5 million.
• Retired government employee: Pensioners' Benefit Account, same rate as Behbood. Minimum Rs 10,000, maximum Rs 7.5 million.
• Families of shuhada: Shuhada Family Welfare Account, same rate.
• Anyone who wants a monthly income: Regular Income Certificate, minimum Rs 50,000.
• Saving for a goal ten years away (a child's education or marriage): Defence Savings Certificate, which compounds and pays everything at the end. Minimum Rs 500.
• Money you may need within a year: Short Term Savings Certificates, minimum Rs 10,000.
• Shariah-compliant savers: the Sarwa Islamic Savings Account (minimum Rs 100) or Sarwa Islamic Term Account (minimum Rs 100,000).

Work out your own figure with our National Savings calculator.

Tax on National Savings profit

For the standard schemes (RIC, DSC, SSC/SSA, STSC, the Sarwa accounts and the Savings Account), withholding tax is deducted from each profit payment: 15% if you are on the Active Taxpayers List, 35% if you are not. On Rs 930 a month from an RIC, that is Rs 139.50 for a filer and Rs 325.50 for a non-filer.

Behbood, PBA and SFWA have their own tax treatment; check it on the scheme's page at savings.gov.pk or at your National Savings Centre before you invest. If you are not a filer yet, the 20-point gap is usually worth more than the effort of filing: see how much tax you owe on your income with our income tax calculator.

How to invest in National Savings: step by step

1. Pick the scheme and amount using the table above and the eligibility rules.
2. Collect your documents: original CNIC (and a copy), plus proof of eligibility for Behbood (age from CNIC, widowhood or disability certificate) or PBA (pension documents).
3. Visit a National Savings Centre. CDNS lists its regional directorates and contact details at savings.gov.pk.
4. Fill in the application and KYC form. Name a nominee: without one, heirs face a long succession process.
5. Deposit the amount in the way the centre accepts, and keep the receipt.
6. Collect your certificate or account details and confirm how and where profit will be paid.
7. Check your first profit payment to make sure the right tax rate (filer or non-filer) was applied.

CDNS helpline: (051) 111 267 268.

Common mistakes

• Cashing in early. Encashing a long-term certificate before maturity can cost you part of the profit. Short-term needs belong in STSC or the Savings Account.
• Investing as a non-filer. You lose 35% of every profit payment instead of 15%.
• Chasing old rates. A rate from a news report in July no longer applies to new money. Always check the date on the rate sheet.
• No nominee. Add one when you invest.
• Forgetting Zakat. Deduction rules differ by scheme; use our zakat calculator to see what you owe on savings.

Compare every scheme side by side on our National Savings comparison page.