Sarwa Islamic Term Account and Savings Account Profit Rate History in Pakistan: Every Change From 2023 to 21 October 2026

We downloaded National Savings' own history files for the Sarwa Islamic Term Account (SITA) and the Sarwa Islamic Savings Account (SISA) from savings.gov.pk on 12 November 2026. Both start on 29 May 2023 and run to date.

The Sarwa rates are 11.84% to 12.12% from 21 October 2026

From 21 October 2026, the 1 year Sarwa term account pays an expected 11.84%, or Rs 11,840 on Rs 100,000 at maturity. The 3 year account pays 12.10%, or Rs 6,050 every six months. The 5 year account pays 12.12%, or Rs 1,010 a month.

The Sarwa Islamic Savings Account, which you can withdraw from, pays an expected 11.84%. The rate card puts that at Rs 973.15 a month on Rs 100,000. Before 21 October, from 1 to 20 October, the rates were 11.33%, 11.57%, 11.70% and 11.33%.

Sarwa rates are called "expected" because these are profit sharing schemes, not fixed interest. The rate card shows them as annual expected rates.

Every Sarwa term account rate since May 2023: the full list

The table lists each period from the SITA file, newest first. From 2025 the file gives only a start date for each period, so we show the start date. The rates are yearly expected rates.

The file also lists two rows in 2023 with dates that do not run in order, at 20.80% and 21.80% for 1 year. We left them out of the table and kept the launch rate and the 30 October 2023 rate, which are clear.

One pattern stands out. The 3 year rate stayed at 9.16% from 29 January to 17 July 2026, while the 1 year rate rose from 9.00% to 11.88%. For those months a 3 year saver earned less than a 1 year saver.

The Sarwa savings account has matched the 1 year rate since September 2024

The SISA file starts at 19.50% in May 2023 and peaked at 20.50% from 30 October 2023. From 25 September 2024, every SISA rate in the file equals the 1 year SITA rate for the same period. Today both are 11.84%. The table shows the main periods; the 2025 February to May rows also match the 1 year rate.

The SISA file adds one rule in writing: when the expected rate changes, the new rate applies to all SISA holders from the effective date. That is not stated for the term account.

What the changes mean for Rs 10 lakh

Multiply by ten. On Rs 1,000,000, the 5 year Sarwa account now pays Rs 10,100 a month, and the 3 year account Rs 60,500 every six months. The 1 year account pays Rs 118,400 at maturity. These are before tax, Zakat and service charges.

At the January 2026 low, the 1 year account would have paid Rs 90,000 on the same Rs 10 lakh. At the 2023 high of 21.80%, it would have paid Rs 218,000. The same rise and fall shows in the Behbood rate history, which also peaked in 2023.

The rate card says Sarwa term profit is subject to withholding tax of 15% for filers and 30% for non-filers, plus Zakat and service charges as per rules. On the savings account it lists the same tax and Zakat at 2.5% as per rules.

How to check the Sarwa rate yourself

Both history files and the rate card are on one National Savings page.

1. Open the National Savings latest profit rates page.
2. Find boxes 9 and 10 on the rate card, for SITA and SISA.
3. Open the SITA or SISA historical profit rates PDF on the same page.
4. Find the period that covers your profit date.
5. Multiply the expected rate by your amount for the year, then divide for your payment frequency.

What the two accounts are, and how to open one, is in our Sarwa accounts guide. To compare Sarwa with the other schemes, see National Savings rates from 21 October 2026.

Common questions

What is the Sarwa Islamic Term Account rate today?

From 21 October 2026, an expected 11.84% for 1 year, 12.10% for 3 years and 12.12% for 5 years.

What is the Sarwa Islamic Savings Account rate today?

An expected 11.84% a year, which the rate card puts at Rs 973.15 a month on Rs 100,000.

When did Sarwa start?

Both history files start on 29 May 2023, with 20.80% for the 1 year term account and 19.50% for the savings account.

Does a new rate apply to my existing Sarwa savings account?

Yes. The SISA file says a new expected rate applies to all SISA holders from its effective date.

How many times did Sarwa rates change in 2026?

Eight times in the SITA file: 5 January, 29 January, 26 May, 10 June, 18 July, 4 September, 1 October and 21 October 2026.

Is Sarwa profit taxed?

Yes. The rate card lists withholding tax at 15% for filers and 30% for non-filers, and Zakat as per rules.

How we verified this

What we checked, where we read it, and what we could not confirm.

Last checked 12 November 2026. Every rate and period comes from National Savings' SITA and SISA history files (SITA_211026.pdf and SISA_211026.pdf) and its rate card dated 21 October 2026, all on savings.gov.pk. Some 2023 and 2024 dates in both files are printed out of order, and we have flagged those rather than guess. The Rs 10 lakh figures are our arithmetic.