Best Savings Options for Pakistanis
Inflation has made saving money in Pakistan feel like running on a treadmill that keeps speeding up. Put cash under the mattress and it loses value every month. Leave it in a basic bank account and the return barely keeps pace with rising prices. So where does that leave someone who just wants their savings to actually mean something a year or two from now?
This guide goes through the main savings options available to people living in Pakistan, plus a couple of options specifically for overseas Pakistanis, and looks at what each one actually pays right now, who it suits, and what to watch out for.
A quick note before we start: this is general information, not financial advice. Profit rates on government schemes change every few months, and your own decision should factor in your tax filer status, how soon you need access to the money, and your personal risk tolerance. Always check current rates directly with the source before committing funds.
National Savings Schemes: The Default Safe Option
For most Pakistanis, National Savings Schemes (run by the Central Directorate of National Savings, or CDNS) are the starting point, and for good reason. They’re backed by the government, available to anyone with a CNIC, and require no investment knowledge or broker account.
When you invest in a National Savings Certificate, you’re essentially lending money to the Government of Pakistan, which pays you regular profit, either monthly or at maturity depending on the scheme. You can buy these at National Savings Centres across the country, through most major banks, or now through an online portal, and the process is straightforward: register, verify your CNIC, link a bank account, choose your certificate type, and invest.
Rates here move fairly often, so let’s look at where things stood most recently. As of a revision effective May 26, 2026, the Special Savings Certificate and Special Savings Account were set at 11.6 percent per annum for the first five profit payouts, with the final payout carrying a 12.4 percent annual return. Short Term Savings Certificates were fixed at annual rates of 10.84 percent for three months, 10.58 percent for six months, and 11.23 percent for one year, while the regular Savings Account was set at 10 percent per annum. Defence Savings Certificates, Bahbood Savings Certificates, Pensioners’ Benefit Account, and the Shuhada Family Welfare Account continued to yield 12 percent annually without changes in this revision.
Here’s the thing about these rates: they shift every few months based on government policy, so treat any specific number as a snapshot rather than a guarantee. As an earlier example, a previous notification effective from November 4, 2025 listed Bahbood Savings Certificates at 12.48 percent, Defence Savings Certificates at 11.08 percent, Regular Income Certificates at 10.56 percent, and the Savings Account at 9 percent, which shows how much movement happens even over a few months.
For those wanting monthly income specifically, Regular Income Certificates pay a fixed profit every month over a 5 year term, with your original principal returned at the end, and they’re ideal for retired people, widows, or anyone who needs steady monthly cash flow, with a minimum investment of Rs. 50,000 and no official maximum.
Don’t forget the tax angle
Profit from National Savings instruments is taxable in Pakistan, with withholding tax deducted at source before you receive your payment. If you’re registered as a tax filer with FBR, your withholding tax rate is typically lower, around 10 to 15 percent, while non-filers pay a higher rate, which is one more practical reason to register as a filer.
Islamic Savings Options
If conventional interest based products don’t work for you religiously, the government has built parallel options.
Under the Sarwa Islamic Savings framework, the Sarwa Islamic Savings Account (SISA) was set at 9.96 percent, while the Sarwa Islamic Term Account (SITA) offered 9.96 percent for one year, 10.20 percent for three years, and 10.44 percent for five years in the rate structure effective from November 2025.
Shariah compliant money market funds from providers like Meezan Bank are also worth comparing, since private Islamic banks often run their own profit rate structures separate from the government schemes. As one example, Meezan Bank’s profit rates as of June 30, 2025 ranged from 0.14 percent to 9.03 percent monthly depending on the specific product and account tier, which shows how much variation exists even within Islamic banking products, so compare actual product sheets rather than assuming one flat rate applies across the board.
Gold: The Traditional Hedge That Still Works
Gold has been part of how Pakistani households protect savings for generations, and that hasn’t really changed even as digital options have multiplied.
Gold has long been seen as a cornerstone of financial security in Pakistan, shielding families and investors from inflation and the decline of the rupee, and with inflationary pressures continuing into 2026, more Pakistanis are looking at gold as part of a deliberate savings and investment strategy rather than just buying jewellery.
Prices move daily and can swing meaningfully. As one snapshot, the price of gold per tola dropped by Rs. 7,100 to Rs. 533,262 according to rates from the All Pakistan Gems and Jewellers Sarafa Association, with 10 gram gold falling by Rs. 6,087 to Rs. 457,186 on the same day, while silver fell by Rs. 324 per tola to Rs. 8,851. In the international market, spot gold was trading around $5,118 per ounce around the same period, with futures near $5,124.
The State Bank of Pakistan’s policy decisions matter here too, higher local interest rates tend to push people toward savings accounts, but when inflation runs high, demand for gold tends to rise again as a hedge. Digital platforms now also make smaller scale gold investment more accessible, with 1 gram bars becoming a popular entry point for people who want exposure to gold without buying full tolas.
Gold doesn’t generate income the way a savings certificate does, but it tends to hold its value against rupee depreciation over the long run, which is exactly why it remains a fixture in Pakistani household savings strategies.
Roshan Digital Account: For Overseas Pakistanis
If you’re a Pakistani living abroad, this is genuinely one of the more useful tools that’s emerged in recent years.
The Roshan Digital Account initiative has shown strong momentum, with total inflows reaching $12.17 billion by the end of February 2026, and February alone attracted $241.8 million in new inflows according to State Bank of Pakistan data. Since launching in September 2020, the program has registered over 909,000 accounts, reflecting continued confidence from non-resident Pakistanis in the country’s digital banking ecosystem.
Multiple banks offer RDA products, including PKR savings accounts, foreign currency savings accounts, and an Asaan Savings Account option with minimal documentation for non-resident Pakistanis. Accounts can be opened in Pakistani Rupees or in major international currencies including USD, GBP, and EUR, and customers can choose between Islamic and conventional banking structures based on their preference.
The flagship investment product within RDA is worth knowing about specifically. Naya Pakistan Certificates are RDA’s flagship product, with USD denominated NPCs typically offering returns between 5.5 and 7 percent depending on tenure, while PKR denominated NPCs offer higher nominal rates but carry currency depreciation risk.
Setting up an account takes a few days and requires only a valid passport and basic documents, and the onboarding process uses bank grade KYC designed to work across time zones, with repatriation access for both principal and permissible profits, plus the ability to handle bill payments, donations, and school fees in Pakistan through a single app.
A Quick Comparison
How to Think About Splitting Your Savings
A common approach for people earning in PKR but who expect to spend in USD at some point is to keep 20 to 40 percent of savings in foreign currency, through options like USD denominated Naya Pakistan Certificates, US stock ETFs accessible via some Pakistani brokers, or gold.
For most people living in Pakistan, a reasonable starting structure looks like keeping an emergency fund in a regular savings account for liquidity, putting medium term savings into National Savings Certificates for the better rate, and holding a portion in gold as a longer term inflation hedge. Overseas Pakistanis have the added option of RDA, which can serve as the foreign currency leg of that same structure.
FAQ
Are National Savings Schemes really safer than bank deposits?
National Savings instruments are government backed and generally offer competitive profit rates compared to most commercial bank savings accounts, which makes them attractive for conservative savers, though they come with their own withdrawal terms depending on the specific certificate.
Do returns on National Savings actually beat inflation?
Returns on rupee denominated options like Behbood certificates often just match inflation, meaning real growth can be limited even when the nominal rate looks attractive. This is one reason many savers diversify into gold or foreign currency options alongside government schemes.
Can I open a Roshan Digital Account if I don’t have a Pakistani phone number?
You don’t need a Pakistani phone number to manage a Roshan Digital Account, since the entire process is designed for non-resident Pakistanis managing things remotely.
Is gold a better long term option than National Savings Certificates?
They serve different purposes. National Savings Certificates generate a regular, predictable income stream, while gold doesn’t pay income but tends to hold value against rupee depreciation over time. Many savers in Pakistan hold both rather than choosing one over the other.
Whatever mix you land on, the practical first step is checking current rates directly with CDNS or your bank before moving any money, since these figures shift every few months and the numbers in this article reflect a specific point in time. Registering as a tax filer with FBR is also worth doing early, since it directly affects how much of your profit you actually keep.
