Serwa
ISLAMABAD: The National Savings has introduced its latest offering, the Serwa Islamic Term Account (SITA). It provides appealing investment opportunities through Islamic certificates.
Here are the details: For a one-year SITA account, the expected annual profit rate is 21.8%. For the three-year and five-year accounts, the rates are 18.33% and 15.12%, respectively.
The profit is disbursed as follows: For a one-year SITA, it is paid upon maturity. For a three-year SITA, it’s paid semi-annually, and for a five-year SITA, it’s paid on a monthly basis.
If you invest Rs100,000 in this scheme, you can expect a profit of Rs21,800 annually for a one-year term, a semi-annual profit of Rs9,165 for three years, and a monthly profit of Rs1,260 for five years.
The NSD pays profit at the end of the specified term period. It could be on maturity or semi-annually, depending on the chosen duration.
SITA is open to all Pakistani Nationals and overseas Pakistanis. The minimum deposit required is Rs50,000, with no maximum investment limit.
Additionally, for the convenience of investors, SITA allows withdrawals at any time after the purchase date.
However, if you withdraw before maturity, the profit will be calculated based on the average rate of SITA for the completed months.
Please note that there may be service charges associated with the five-year SITA option.
