What a Regular Income Certificate is
The Regular Income Certificate (RIC) is a government savings scheme. It is run by the Central Directorate of National Savings (CDNS). You invest a fixed amount for a fixed tenor. The tenor is the period until the certificate matures. During that period CDNS pays you profit every month. At maturity you get your principal back.
The scheme is built for people who need a steady monthly cash flow. Typical users are retired people, families living on savings, and anyone who prefers regular payments to a lump sum at the end. It belongs to the wider National Savings schemes family. For the full range of options, see Savings and deposits.
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RIC profit rate: where to find the current figure
The RIC profit rate is set by the government and announced by CDNS. It is revised from time to time, usually when market interest rates move. This page does not quote a rate because rates change, and an old figure can mislead you.
To get the current rate:
- open the official National Savings (CDNS) website and find the profit rate table for Regular Income Certificates;
- note the date the rate took effect;
- check whether a revision applies only to new investments or also to certificates you already hold.
The State Bank of Pakistan (SBP) sets the policy rate, which is the benchmark for interest rates in the economy. The latest decision on record here: SBP policy rate raised by 50 bps to 12% with effect from 27.10.2026 (MPC). A policy rate change does not set the RIC rate directly. CDNS announces its own revisions. Background on the policy rate is on SBP rates and economy.
How the monthly profit works
Profit on an RIC is simple, not compound. The certificate pays out each month's profit to you. That profit does not stay invested and does not earn further profit. Your monthly payment is the annual rate applied to your principal and split across the months of the year, minus tax.
Points that matter in practice:
- Fixed principal. Your invested amount stays the same until maturity or encashment.
- Payment channel. Profit is paid through the channel set up when you invest, often a bank account or the National Savings Centre. Check the current options with CDNS.
- Reinvestment is your choice. If you want compounding, you have to reinvest the monthly payments yourself, for example in a savings account.
RIC calculator: estimate your monthly income
Use the calculator below to estimate the profit on your own amount.
Fill in the empty fields to see the result.
Simple: P × r × t. Compound: interest is added to the balance each period; effective annual rate = (1 + r/n)^n − 1. Tax is withheld each time interest is credited.
How to set it up for an RIC:
- Enter the amount you plan to invest.
- Enter the current RIC profit rate from the CDNS website.
- Set the term to the RIC tenor stated by CDNS.
- Choose simple interest, because RIC profit is paid out and not reinvested.
- Enter the withholding tax rate that applies to you.
The calculator shows the profit after tax and an effective annual rate. The result is an estimate. CDNS calculates the actual payments. For other National Savings products, use the Profit calculator.
Tax on RIC profit
Profit on National Savings certificates is subject to withholding tax. The tax is deducted at source before the profit reaches you. The rate depends on your tax status. Filers on the Active Taxpayers List (ATL) usually pay a lower rate than non-filers.
Before investing:
- check the current withholding tax rates on the Federal Board of Revenue (FBR) website;
- confirm that you appear on the ATL if you expect the filer rate;
- ask CDNS whether Zakat deduction applies and how to file an exemption declaration if you qualify.
More on how tax works on savings income is on Payments, tax, Islamic banking.
Early encashment and other rules
You can usually encash an RIC before maturity. Early encashment often carries a service charge or reduced profit, depending on how long you held the certificate. Read the current encashment rules on the CDNS website before you invest money you might need soon.
Other rules to check with CDNS:
- who is eligible to invest, and whether joint holding is allowed;
- the minimum amount, available denominations and any upper limit;
- the documents needed, normally your CNIC;
- nomination, so a named person can claim the investment;
- whether you can invest at a National Savings Centre only or also through other official channels.
How RIC compares with similar options
| Option | How profit is paid | Where to read more |
|---|---|---|
| Regular Income Certificate | Monthly | This page |
| Behbood Savings Certificate | Monthly, for eligible groups | Bahbood Savings Certificates |
| Pensioners' Benefit Account | Monthly, for pensioners | Pensioners' Benefit Account |
| Special Savings Certificate | Periodic | Special Savings Certificates |
| Defence Savings Certificate | At maturity, compounded | Defence Savings Certificates |
| Short Term Savings Certificate | At maturity, short tenor | Short Term Savings Certificates |
| Bank term deposit | Depends on the bank | Bank deposits |
| T-bills and PIBs | Discount or coupon | T-bills and PIBs |
RIC is a conventional, interest-based product. If you need a Shariah-compliant option, see the Sarwa Islamic Account and Islamic finance.
RIC is a savings product. It is not trading. Leveraged forex and CFD trading can lose money fast, and on offshore platforms, per the SECP, offshore platforms have no Pakistani licence or oversight and offer no legal protection or recourse. For more on this, see Risk management.
Frequent questions
What is an RIC in National Savings?
It is a CDNS certificate that pays profit every month over a fixed tenor. You get your principal back at maturity.
What is the current RIC profit rate?
Check the profit rate table on the official National Savings (CDNS) website and note the date the rate took effect. Rates are revised from time to time.
How is the monthly profit calculated?
The annual rate is applied to your principal and split into monthly payments, minus withholding tax. The calculator on this page gives an estimate.
Is tax deducted from RIC profit?
Yes. Withholding tax is deducted at source. The rate depends on whether you are on the Active Taxpayers List. Check current rates with the FBR.
Can I cash an RIC before maturity?
Usually yes, but a charge or reduced profit may apply. Check the current encashment rules with CDNS.
Is RIC Shariah-compliant?
No, it is a conventional product. CDNS offers Sarwa Islamic products as an alternative.
Does my profit rate change after I invest?
It depends on the CDNS rules for each revision. Check on the official site whether a change applies to certificates you already hold.