Special Savings Certificate Profit Rate History in Pakistan: Every Change From 2018 to 21 October 2026 (Full List)

We downloaded National Savings' own history file for these two schemes from savings.gov.pk on 12 November 2026. It lists each rate period from 1 November 2018 to date, with the rate and the rupee profit on Rs 100,000 for each of the six payments.

The Special Savings rate is 12.00% from 21 October 2026

From 21 October 2026, the first five profits pay 12.00% a year, or Rs 6,000 per Rs 100,000 every six months. The sixth profit, paid at the end of three years, is 12.80%, or Rs 6,400. Before that, from 1 to 20 October, the rates were 11.60% (Rs 5,800) and 12.90% (Rs 6,450).

So the latest change raised the regular profit by Rs 200 and cut the final profit by Rs 50. The Special Savings Certificate (SSC) and the Special Savings Account (SSA) share one rate table. Both run for three years and pay every six months.

Every Special Savings rate change since December 2023: the full list

The table shows each period from the file, newest first. Profits 1 to 5 share one rate. Profit 6 is the last one, paid at the end of year three.

The rate changed eight times in 2026, against nine times in 2024. It fell to 9.40% in January, its lowest since 2021, and climbed back to 12.00% by October.

The highest Special Savings rate was 18.20% in 2023

The file starts on 1 November 2018 at 8.60% (Rs 4,300 every six months). The highest regular rate was 18.20% (Rs 9,100), from 12 July to 29 October 2023, with 19.00% on the last profit. The lowest was 6.80% (Rs 3,400), from 4 to 27 August 2020.

These rates follow the government's cost of borrowing. The 2023 peak came when the State Bank's policy rate was at its highest, and the falls through 2024 and 2025 followed its cuts. The policy rate history shows the same pattern.

What the changes mean for Rs 10 lakh invested

Multiply the Rs 100,000 figure by ten. On Rs 1,000,000, the current rate pays Rs 60,000 every six months for the first five profits and Rs 64,000 for the sixth. If the rate stayed the same for all three years, that is Rs 364,000 in total before tax, by our arithmetic.

At the January 2026 low, the same Rs 10 lakh paid Rs 47,000 every six months. At the 2023 high it paid Rs 91,000. Rates do change during a holding, so treat any three year total as an estimate.

Tax comes off each profit. National Savings' SSC page says withholding tax is 15% for people on the Active Taxpayer List and 30% for others, and Zakat is collected at source as per rules. On a Rs 60,000 profit, a filer gets Rs 51,000 after the 15% tax.

How to check the Special Savings rate yourself

National Savings publishes the current rate card and the full history file. Both are free to open.

1. Open the National Savings latest profit rates page.
2. Look at the first box on the rate card for today's Special Savings rate.
3. Open the Special Savings Certificates and Account historical profit rates PDF on the same page.
4. Find the row whose dates cover the date your profit falls due.
5. Multiply the rupee profit by your amount in lakh.

The steps to buy a certificate are in buying Special Savings Certificates. The account version, which works the same way, is covered in opening a Special Savings Account. Every other scheme's current rate is in National Savings rates from 21 October 2026.

Common questions

What is the Special Savings Certificate rate today?

12.00% a year for profits 1 to 5 (Rs 6,000 per Rs 100,000 every six months) and 12.80% for profit 6 (Rs 6,400), from 21 October 2026.

How many times did the rate change in 2026?

Eight times: 5 January, 23 January, 26 May, 10 June, 18 July, 4 September, 1 October and 21 October 2026.

Is the Special Savings Account rate the same as the certificate?

Yes. National Savings publishes one rate table for both the Special Savings Account and the Special Savings Certificate.

What was the highest Special Savings rate?

18.20% a year (Rs 9,100 every six months per Rs 100,000), from 12 July to 29 October 2023, with 19.00% on the last profit.

Can I cash a Special Savings Certificate early?

Yes, at par at any time. National Savings says no profit is paid if you cash it before six months, and no service charge is taken.

What is the minimum amount?

Rs 500, with no upper limit, according to the National Savings SSC page.

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' Special Savings history file (SSC-SSA.pdf) and its rate card dated 21 October 2026, both on savings.gov.pk. Purchase, encashment and tax rules come from the National Savings SSC page, read the same day. The Rs 10 lakh and after-tax figures are our arithmetic. National Savings does not say whether a new rate applies to profits on certificates already held, so ask your centre.