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What is a saving certificate

what is a saving certificate

Pakistan Savings Certificates

PkPrizeBond.Com also facilitates you with detailed information of Pakistani Saving Certificates which are of four types. Defense Saving Certificates (DSC), Special Saving Certificates Registered (SSCR), Regular Income Certificates (RIC), Bahbood Saving Certificates (BSC) fall under the category of Pakistani Saving Certificates. Let’s take some insight of all these four certificates.

Defense Saving Certificates (DSC) are introduced by government of Pakistan during 1996. To tackle future needs of depositors Defense Saving Certificates (DSC) are handy as this maturity scheme cover a decade. The denominations lie from Rupees 500 to Rupees1, 000,000 for Defense Saving Certificates (DSC). Charities, Public Sector Enterprises, Private Educational Institutes, Health Care, Corporate Sector Organizations registered to Security Exchange Commission of Pakistan (SECP) can benefit from Defense Saving Certificates (DSC). If you are interested to purchase Defense Saving Certificates (DSC) State Bank of Pakistan (SBP), Pakistan Post Office (PPO) and National Savings Centers (NSC) are the places through which one can purchase Defense Saving Certificates (DSC) easily by filling a prescribed form. A photocopy of National Identification Card (NIC) is prerequisite while purchasing Defense Saving Certificates (DSC). Encashment of this type of Pakistan Savings Certificate is possible at any time but no profit will be paid attributed to Defense Savings Certificates (DSC) before one year completion time to date of purchase.

Special Savings Certificate Registered (SSCR) came into existence among available Pakistan Savings Certificate during 1990. Denominations of Rupees.500, Rupees.1000, Rupees.5, 000, Rupees.10, 000, Rupees.50, 000, Rupees.100, 000, Rupees.500, 000 and Rs.1, 000,000 are available for Special Savings Certificate Registered (SSCR). After six months from purchase date the profit will be paid for Special Savings Certificate Registered (SSCR). Though it is the type of Pakistan Savings Certificate whose maturity scheme spans three years but at the same time Special Savings Certificate Registered (SSCR) caters periodic needs of its bearers. Private Educational Institutes, Security Exchange Commission of Pakistan (SECP) registered Corporate Sectors; Public Sector Enterprises etc can invest in Special Savings Certificate Registered (SSCR). During purchase a photocopy of National Identification Card (NIC) is mandatory. Encashment of Special Savings Certificate Registered (SSCR) is possible at will be profit will not be paid before completion of six months from purchased

date of Special Savings Certificate Registered (SSCR).

Another Pakistan Saving Certificate worth to mention is Regular Income Certificate (RIC). Launched during 1993 with maturity lap of five years and aim to fulfill requirements of people on monthly basis Regular Income Certificate (RIC) is surely a good proposition. Rupees 50, 000, Rupees 100, 000, Rupees 500, 000, Rupees 1, 000,000, Rupees 5, 000,000 and Rupees 10, 000,000 are the available denominations for Regular Income Certificates (RIC). Good news is that profit is available on monthly basis in case of this type of Pakistan Saving Certificate. Corporate Sectors; Public Sector Enterprises, Health Care Organizations, Private Educational Institutes are ideal candidates for buying Regular Income Certificates (RIC). Photocopy of National Identification Card (NIC) as always is necessary requirement during purchase of Regular Income Certificates (RIC). Encashment of Regular Income Certificates (RIC) is possible any time but service charges will be imposed in the case of redemption for Regular Income Certificates (RIC).

Bahbood Savings Certificate (BSC) is a different type of Pakistan Saving Certificate as it is meant for welfare of old and widows. The Urdu word ‘Bahbood’ from Bahbood Savings Certificate (BSC) which means welfare in English language also points to previous mentioned aspect of Bahbood Savings Certificate (BSC). Span of maturity laps to ten years and launch date is 1st July 2003 for Bahbood Savings Certificate (BSC). Rupees 5, 000, Rupees 10, 000, Rupees 50, 000, Rupees100, 000, Rupees 500,000 and Rupees.1, 000, 000 worth denominations are existing for Bahbood Savings Certificate (BSC). Profit is paid on monthly basis. Eligibility is limited only to widows and old of age 60 years or above for Bahbood Savings Certificate (BSC). National Savings Centers (NSC), Pakistan Post Office (PPO) and State Bank of Pakistan (SBP) are the preferred places to purchase Bahbood Savings Certificate (BSC). Photocopy of National Identification Card (NIC) is must for purchase and services charges will be imposed in case of encashment or redemption of Bahbood Savings Certificate (BSC).

For further information of Defense Saving Certificates (DSC), Special Savings Certificate Registered (SSCR), Regular Income Certificate (RIC), Bahbood Savings Certificate (BSC) etc please follow respective links provided by PkPrizeBond.Com

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