National Savings Account
A Reliable Choice for Everyday Financial Flexibility
National Savings of Pakistan offers a range of secure savings accounts designed for individuals seeking safe and steady returns. These accounts are backed by the Government of Pakistan, making them one of the most trusted investment options in the country. From simple savings accounts for daily needs to specialized schemes for retirees, pensioners, and families, National Savings provides flexible choices for different financial goals. With attractive profit rates, tax benefits for filers, and convenient access, they serve as a reliable way for Pakistanis to save, invest, and plan for financial freedom.
Types of Savings Account offered by National Saving
- Savings Account
- Pensioner’s Benefit Account
- Special Savings Account
- Shuhadah’s Family Welfare Account
1. Savings Account
When it comes to secure and accessible investment options in Pakistan, the National Savings Accounts stands out as a trusted solution for individuals seeking both convenience and steady returns. As one of the earliest savings products introduced by National Savings, these account are designed to encourage individuals — especially small savers — to develop strong saving habits while meeting their routine financial needs.
Who Can Open a National Savings Savings Account?
The National Savings Savings Account is open to a wide range of investors, including:
- Pakistani citizens residing in the country.
- Overseas Pakistanis.
- Adults opening an account individually.
- Two adults opening a joint account, either:
- Joint-A: Withdrawals require signatures from both account holders.
- Joint-B: Withdrawals can be made by either account holder individually.
- Adults acting as legal guardians can also open an account on behalf of minors.
How to Open a Savings Account?
Setting up a Savings Account is simple and can be done by visiting any National Savings Centre (NSC) across Pakistan. Investors are required to complete the DA-1 Application Form, which is available free of cost at all NSC branches.
Required Documents
Depending on the applicant’s status, the following documentation is required:
- For Pakistani Adults:
- Photocopy of a valid Computerized National Identity Card (CNIC).
- For Overseas Pakistanis:
- Photocopy of NICOP (National Identity Card for Overseas Pakistanis) or POC (Pakistan Origin Card).
- For Minors:
- Photocopy of Form B or Child Registration Certificate (CRC) issued by NADRA.
Modes of Deposit
The National Savings Savings Account can be funded in multiple ways:
- Cash
- Cheque
- Bank Draft
- Pay Order
Account Activation:
- If the deposit is made in cash, the account becomes active immediately on the same day.
- For deposits via cheque, draft, or pay order, the account will be activated once the funds are cleared and the realization advice is received.
Investment Limits
- Minimum Deposit: Rs. 100
- Maximum Limit: No upper limit applies.
- Account Policy: One person can hold one Savings Account at each National Savings Centre.
Withdrawals
Investors enjoy the flexibility to withdraw their funds at any time after making a deposit. However, withdrawals are limited to three transactions per week.
Profit Rates & Payment Schedule
Profits earned on Savings Accounts are calculated annually and credited to the account on 30th June each year. The calculation is based on:
- The lowest balance maintained between the 6th day and the last day of each month.
- The monthly profit is computed on the cumulative amount at the officially declared rate.
- For rates click here
Tax Deduction & Zakat Applicability
Like other financial products, Savings Accounts are subject to tax and zakat deductions as per government regulations:
- For Tax Filers:
- If the account holder is listed in the Active Taxpayer List (ATL), the withholding tax on profit is 15%, regardless of the amount or investment date.
- For Non-Filers:
- For individuals not listed in the ATL, the withholding tax is higher — set at 35% of the profit.
- Zakat:
- Zakat deductions apply according to prevailing laws and are automatically deducted if applicable.
Final Thoughts
The National Savings Savings Account is a highly flexible and secure savings product, making it an ideal choice for anyone looking to manage short-term liquidity while earning steady returns. Whether you’re saving for routine expenses, emergencies, or long-term financial planning, this account offers a safe and convenient starting point on your journey toward financial stability and freedom.
2. Pensioners’ Benefit Account — A Secure Income Plan for Retirees in Pakistan
Financial stability after retirement is a dream for many, and the Pensioners’ Benefit Account (PBA) has been specifically designed to make that a reality for pensioners across Pakistan. Launched by the Government of Pakistan through the Central Directorate of National Savings (CDNS), this scheme ensures a steady monthly income stream for those who have served the nation during their working years.
Who Is Eligible to Open a Pensioners’ Benefit Account?
The Pensioners’ Benefit Account is tailored for:
- Retired employees of the Federal Government and Provincial Governments.
- Pensioners from the Armed Forces.
- Retirees from Semi-Government Institutions and Autonomous Organizations.
- Pensioners from the Government of Azad Jammu & Kashmir.
- In the unfortunate event of a pensioner’s death, their eligible family members can also invest in the account.
How to Open a Pensioners’ Benefit Account
Opening a PBA is a simple and straightforward process. Interested investors can visit any National Savings Centre (NSC) located across Pakistan, including Azad Jammu & Kashmir and Gilgit Baltistan.
To begin, applicants need to complete a DA-I Application Form — which is provided free of charge at all NSC branches.
Documents Required
When submitting the application, the following documents must be attached:
- Attested copy of CNIC/NICOP (Computerized National Identity Card or National Identity Card for Overseas Pakistanis).
- Proof of Retirement, such as:
- Pension Payment Order
- Pension Book
- Documentation related to Golden Handshake or Voluntary Separation Schemes,
- Or any other valid proof confirming retirement status.
Methods of Deposit
An account can be opened using:
- Cash — the account becomes active immediately upon cash deposit.
- Cheque, Bank Draft, or Pay Order — the account will be activated once the funds are cleared, based on the realization date confirmed by the bank.
Investment Limits
The Pensioners’ Benefit Account offers flexibility in investment but follows clear guidelines:
- Minimum Investment: Rs. 10,000
- Maximum Investment: Rs. 7,500,000
Additional Rules:
- Investors are allowed up to seven subsequent deposits after the initial deposit.
- A maximum of eight deposits (including the initial one) is permitted per account.
- An individual is restricted to one PBA account nationwide at a time.
- If the account exceeds the permitted deposit limit or violates any of the above conditions, it will be marked irregular, resulting in no profit. Any profits previously credited will be reversed and reclaimed by the issuing office.
Withdrawals
Withdrawals are allowed at any time; however:
- The withdrawal amount must be in multiples of Rs. 1,000.
- Early withdrawal (before completion of the full term) incurs service charges, deducted as a percentage of the principal amount, depending on the withdrawal timeline:
| Holding Period Before Withdrawal | Deduction from Principal |
| Less than 1 Year | 1% |
| After 1 Year but before 2 Years | 0.75% |
| After 2 Years but before 3 Years | 0.5% |
| After 3 Years but before 4 Years | 0.25% |
Profit Rates & Reinvestment
The Pensioners’ Benefit Account pays profit on a monthly basis for a total tenure of 10 years. Upon maturity, investors have the option to reinvest their principal under the prevailing profit rates at the time of renewal.
To stay updated on the latest profit rates, investors are encouraged to check the official National Savings website or visit their nearest NSC.
Tax and Zakat Exemptions
One of the standout features of the PBA is its favorable tax and zakat treatment:
- No Withholding Tax is deducted on profits earned through the Pensioners’ Benefit Account.
- Exempt from Zakat deductions, offering full profit payouts to account holders.
Final Thoughts
The Pensioners’ Benefit Account is more than just an investment; it’s a safeguard for retirees seeking financial peace of mind. With guaranteed monthly profits, tax exemptions, and flexible deposit options, the PBA is a powerful tool for anyone planning a secure, worry-free post-retirement life in Pakistan.
3. Special Savings Account
Introduced in February 1990, the Special Savings Account (SSA) is one of Pakistan’s longstanding savings solutions designed to provide stable returns over a medium-term period. This investment scheme offers profit payments every six months, with a total maturity period of three years.
Who Can Open a Special Savings Account?
The Special Savings Account is a flexible savings option available to:
- Pakistani citizens residing in the country.
- Overseas Pakistanis.
- Individuals in their personal capacity.
- Guardians investing on behalf of minors.
- Two individuals jointly under a shared account.
How to Open a Special Savings Account
Opening an SSA is simple and accessible through any National Savings Centre (NSC) located across Pakistan. Investors need to fill out the DA-1 Application Form, which is provided free of charge at all NSC branches.
Required Documentation
Depending on the type of applicant, the following documents are needed:
- For Pakistani Adults:
- A copy of the Computerized National Identity Card (CNIC).
- For Overseas Pakistanis:
- A copy of NICOP (National Identity Card for Overseas Pakistanis) or POC (Pakistan Origin Card).
- For Minors:
- A copy of Form B or Child Registration Certificate (CRC) issued by NADRA.
Methods of Deposit
Investors can fund their Special Savings Account through:
- Cash
- Cheque
- Bank Draft
When depositing cash, the account and associated passbook are issued immediately. If the deposit is made via cheque or draft, the account is activated only after the funds are cleared and a realization advice is received.
Investment Limits
The SSA is designed to accommodate a wide range of investors with a low entry barrier:
- Minimum Investment: Rs. 500
- No Upper Investment Limit.
- Deposits must be made in multiples of Rs. 500.
Withdrawals
Investors can withdraw their funds at any time; however, there are some important rules:
- Withdrawals must be in multiples of Rs. 500.
- After withdrawal, the remaining account balance must not fall below Rs. 500.
- No profit is paid on any deposit withdrawn before completing six months.
- For deposits made on or after July 1, 2017, automatic reinvestment upon maturity is no longer applicable. Investors will need to manually reinvest if they wish to continue their savings.
Profit Rates & Reinvestment
Tax Deduction & Zakat
As per government policy, tax and zakat deductions are handled at source:
- For Tax Filers:
- If the account holder is listed in the Active Taxpayers List (ATL), the Withholding Tax on profit is 15%.
- For Non-Filers:
- For those not listed in the ATL, the Withholding Tax is 35%.
- Zakat:
- Zakat is deducted at source as per applicable rules, at the time of withdrawal of the principal amount.
Final Thoughts The National Savings Special Savings Account is a smart choice for anyone looking for a balance between liquidity and regular profit payouts. With the flexibility to withdraw at any time (subject to conditions) and the benefit of six-monthly profit payments, the SSA is ideal for short to medium-term savings goals — whether you’re planning for personal needs, family security, or long-term financial freedom.
4. Shuhadas Family Welfare Account
The Shuhadas Family Welfare Account (SFWA) was introduced in 2018 by the Government of Pakistan as a dedicated savings scheme to support the families of martyrs — including personnel of the Armed Forces, law enforcement agencies, and civilians who lost their lives due to terrorism or in the line of duty. This initiative is part of the National Savings welfare portfolio, designed to extend financial security to deserving families through stable investment opportunities.
Who Can Open a Shuhadas Family Welfare Account?
The account is exclusively available to the eligible family members of martyrs (Shuhada), as recognized under the Pension-Cum-Gratuity Scheme, 1954. The priority order for eligibility is strictly observed:
- Widow of the Shaheed (for life).
- Eldest surviving son.
- Eldest unmarried daughter.
- Eldest widowed daughter.
- Eldest widowed daughter-in-law of a deceased son.
- Eldest surviving grandson (under 21 years) from a deceased son.
- Eldest unmarried granddaughter (under 21 years) from a deceased son.
- Eldest widowed granddaughter-in-law from a deceased son.
- Father of the Shaheed.
- Mother of the Shaheed.
- Eldest surviving brother.
- Eldest unmarried surviving sister.
- Eldest surviving widowed sister.
Note: If the person next in line is unwilling to open the account, the consent of the preceding eligible family member(s) is required for the next eligible person to apply.
How to Open the Account
Eligible family members can open an SFWA at any National Savings Centre (NSC) by submitting the standard DA-I Application Form, which is available free of cost at all NSC branches.
Documents Required
Depending on the applicant’s status, the following documentation is mandatory:
- For Adult Applicants:
- Valid copy of Computerized National Identity Card (CNIC).
- For Overseas Pakistanis:
- Copy of NICOP (National Identity Card for Overseas Pakistanis).
- For Minors:
- Copy of Form B or Child Registration Certificate (CRC) issued by NADRA.
- CNIC of the guardian appointed by a competent court.
- For Civilian Martyrs:
- Certificate issued by the relevant Assistant Commissioner, Deputy Commissioner, or other authorized government officer confirming the death resulted from a terrorist attack and disclosing any compensation status.
- For Armed Forces, Law Enforcement, and Paramilitary Personnel:
- Official Martyrdom Certificate issued by the respective department.
- Any additional documentation as required by the Director General, National Savings.
Investment and Deposit Process
Deposits can be made via:
- Cash
- Cross Cheque
- Bank Draft
- Pay Order
For cash deposits, the account is opened the same day. For non-cash instruments (cheques, drafts, pay orders), the account will be activated after funds are cleared and the realization advice is received.
Investment Limits
- Minimum Investment: Rs. 10,000
- Maximum Investment: Rs. 5,000,000
Each eligible family member is permitted to open only one account under this scheme.
Withdrawals
Account holders have the flexibility to withdraw the principal amount at any time by using a withdrawal slip designed for this purpose.
Profit Rates
Profit on the Shuhadas Family Welfare Account is calculated based on the daily balance maintained throughout the calendar month.
Tax & Zakat Information
- Tax:
- Profit earned under this scheme is fully exempt from withholding tax, as per the prevailing tax laws.
- Zakat:
- Similar to the Behbood Savings Certificates, no zakat deduction is applied to this account.
Conclusion
The Shuhadas Family Welfare Account is more than just a savings product — it’s a gesture of national gratitude to the families of Pakistan’s martyrs. By offering tax-free, secure monthly profits and a flexible withdrawal structure, this account helps the families of Shuhada maintain financial stability and dignity during challenging times.