Pakistan's National Savings Schemes Took In Rs 86 Billion Net in July and August 2026
National Savings schemes raised a net Rs 86,045 million in July and August 2026, up 17% on last year. See which schemes gained and which lost money, by scheme.
Short answer: Pakistan's National Savings schemes took in Rs 86,045 million, about Rs 86 billion, net in July and August 2026, the State Bank of Pakistan (SBP) table shows. That is 17 per cent more than the Rs 73,509 million of the same two months last year. Defence Savings Certificates were the only named scheme with a net outflow.
"Net" means the money savers put in, minus the money they took out. The table comes from the Central Directorate of National Savings and is published on the SBP website. We opened it and checked the monthly sums line by line.
National Savings took in Rs 86,045 million net in July and August 2026
The first two months of FY27 brought in a net Rs 86,045 million. July alone was Rs 53,233 million and August was Rs 32,813 million. Last year the same months gave Rs 44,167 million and Rs 29,342 million, so the total is up Rs 12,536 million, or 17 per cent.
| Scheme group | July and August 2025 (Rs million) | July and August 2026 (Rs million) |
|---|---|---|
| Defence Savings Certificates | -602 | -4,895 |
| Regular Income Certificates | 13,371 | 19,368 |
| Special Savings Certificates (registered) | 5,832 | 6,485 |
| Prize bonds | 5,524 | 5,556 |
| Others | 49,383 | 59,532 |
| Total | 73,509 | 86,045 |
The SBP table does not say what "Others" holds, so we do not break it down. It is the largest group by far, at Rs 59,532 million, or 69 per cent of the total.
Regular Income Certificates led the named schemes
Regular Income Certificates, which pay profit every month, took in a net Rs 19,368 million in the two months, up from Rs 13,371 million a year earlier. July was Rs 11,838 million and August Rs 7,530 million. They are the largest named scheme in the table.
Special Savings Certificates added a net Rs 6,485 million, and prize bonds Rs 5,556 million. Both are close to last year's levels. Our page on how to buy Regular Income Certificates lists the steps, and the current National Savings profit rates for October show what each scheme pays.
Defence Savings Certificates saw money leave in August
Defence Savings Certificates had a net inflow of just Rs 54 million in July, then a net outflow of Rs 4,949 million in August. Over two months that makes a net outflow of Rs 4,895 million. It is the largest monthly outflow from this scheme since December 2025, when Rs 7,801 million went out.
The table gives no reason. A net outflow can come from savers cashing certificates, from maturities, or from both. We cannot say which from this data. If you hold one and want to cash it, see how early encashment works before you decide.
FY26 ended at Rs 292,594 million after five weak years
FY26 closed with a net inflow of Rs 292,594 million. FY25 was Rs 257,124 million. Before that the table shows net outflows in every year from FY21 to FY24, the largest being Rs 381,865 million in FY23. So the recent run of inflows is a change from the pattern of the early 2020s.
Spread over twelve months, FY26 averaged about Rs 24,400 million a month. July and August 2026 averaged about Rs 43,000 million a month, which is our arithmetic from the table. Two months are a short run, though, and the pace in the table moved a lot from month to month in FY26, from Rs 4,188 million in December to Rs 53,233 million in July 2026.
- FY21: net outflow of Rs 317,309 million.
- FY22: net outflow of Rs 358,683 million.
- FY23: net outflow of Rs 381,865 million.
- FY24: net outflow of Rs 108,125 million.
- FY25: net inflow of Rs 257,124 million, and FY26: net inflow of Rs 292,594 million.
Net inflow is not the same as a good return
A rising net inflow tells you more people are saving in these schemes. It does not tell you the saving is worth it. With inflation at 10.3 per cent in September, the real return depends on the rate you lock in. Our worked guide to checking whether savings beat inflation shows how to test your own certificate.
A net inflow is also a flow, not a balance. The table does not say how much money sits in the schemes in total. The nearest figure is in the SBP's central government debt table, where unfunded debt, most of it savings schemes, was Rs 3,364 billion in August, as we explain in our note on central government debt for August 2026.
Common questions
How much did National Savings raise in July and August 2026?
It raised a net Rs 86,045 million, about Rs 86 billion, according to the SBP table.
What does "net" mean in this table?
It means new money put in minus money taken out, including payments back to savers, so a negative number means more left than came in.
Which scheme lost money in 2026-27 so far?
Defence Savings Certificates had a net outflow of Rs 4,895 million over the two months. All other named schemes were positive.
Are prize bonds counted?
Yes. The table has a separate prize bonds column, which showed a net Rs 5,556 million.
Where can I read the table myself?
On the SBP website under Economic Data, in the monetary and financial sector, as "Savings Mobilized by National Savings Schemes (Net)".
How we verified this
What we checked, where we read it, and what we could not confirm.
Last checked on 11 October 2026. We read the State Bank of Pakistan's "Savings Mobilized by National Savings Schemes (Net)" table, listed on its Economic Data page as updated on 6 October 2026. The SBP names the Central Directorate of National Savings as the source. The percentage changes and the two-month sums are our arithmetic from the monthly figures in the table. The September inflation figure comes from the Pakistan Bureau of Statistics release of 1 October 2026.
About the author
Global Affairs & Political Economy Writer
Muhammad Hatim is a book lover who started writing because he enjoys it. At Pakistan Era he writes about international relations, geopolitics and the global economy, with a particular interest in South Asia and the forces behind current events.
