Naya Pakistan Certificates 2026: Rates, Tenors, Tax and How to Buy
Current NPC rates (SBP)
Conventional NPC rates, per year, from SBP's Naya Pakistan Certificate page, checked on 17 October 2026.
| Currency | 3M | 6M | 12M | 3Y | 5Y | For issues from |
|---|---|---|---|---|---|---|
| USD | 6.75% | 7.00% | 7.25% | 7.50% | 7.75% | 27 March 2026 |
| GBP | 6.75% | 7.25% | 7.50% | 7.75% | 8.00% | 27 March 2026 |
| EUR | 4.75% | 5.25% | 5.50% | 6.00% | 6.25% | 27 March 2026 |
| PKR | 11.75% | 12.00% | 12.25% | 12.50% | 12.75% | 5 June 2026 |
| SAR | 6.50% | 6.75% | 7.00% | 7.25% | 7.50% | 5 June 2026 |
| AED | 6.50% | 6.75% | 7.00% | 7.25% | 7.50% | 5 June 2026 |
Rates can change at any time. The rate that counts is the one on SBP's page or your bank's portal on the day you invest.
How profit is paid
| Tenor | Profit paid |
|---|---|
| 3, 6 and 12 months | At maturity |
| 3 and 5 years | Every six months |
Profit, maturity amounts and early encashment money are paid into your Roshan Digital Account only.
Tax and zakat
- 10% withholding tax on profit, as full and final settlement.
- A non-resident whose only Pakistan income is NPC profit and certain other investments does not need to file a tax return (SBP FAQ).
- No zakat is deducted (NPC Rules, 2020).
Cashing out early
- Allowed, fully or partly.
- You get the rate of the nearest shorter tenor. Example from SBP: cash a 12-month NPC in month 8 and you get the 6-month rate.
- No profit if you cash out before 3 months.
- Islamic NPCs can be cashed only after one month, using a redemption table.
Conventional or Islamic?
Islamic NPCs use a Mudarabah structure through a government-owned company, approved by SBP's Shariah Advisory Committee. They have no fixed rate. Expected rates are notified monthly, but actual profit depends on the pool's results.
Minimum investment
| Currency | SBP FAQ minimum |
|---|---|
| USD, GBP, EUR | 5,000, then multiples of 1,000 |
| PKR | 100,000, then multiples of 10,000 |
| SAR, AED | 1,000, then multiples of 500 |
At least one agent bank lists lower USD, GBP, EUR and PKR minimums than SBP's FAQ. Confirm the minimum with your bank before you invest.
How to buy NPCs: step by step
- Open a Roshan Digital Account with one of the 15 agent banks. Compare them in our RDA bank comparison.
- Send money from abroad into the account through normal banking channels.
- Log in to your bank's online portal.
- Pick conventional or Islamic, the currency, the tenor and the amount.
- Confirm. You do not need to visit Pakistan to invest or to cash out.
A foreign currency RDA in another currency can still buy USD, GBP or EUR NPCs. The bank converts at its rate on the day.
Who can invest?
Anyone eligible for an RDA: non-resident Pakistanis, resident Pakistanis with declared foreign assets, foreign individuals and non-resident entities. Minors can invest through a parent or guardian until age 18.
Related: Roshan Digital Account bank comparison · AED, SAR and GBP to PKR rates explained
Frequently asked questions
What is the NPC rate in 2026?
On SBP's page (checked 17 October 2026), USD NPCs pay 6.75% to 7.75% a year and PKR NPCs 11.75% to 12.75%, depending on tenor. USD, GBP and EUR rates apply to issues from 27 March 2026; PKR, SAR and AED from 5 June 2026.
Is NPC profit taxed?
Yes. 10% withholding tax, as full and final tax. Zakat is not deducted.
Can I buy NPCs without a Roshan Digital Account?
No. SBP says opening an RDA with an agent bank is a pre-requisite.
What happens if I cash out early?
You get the rate of the nearest shorter tenor. Before 3 months there is no profit.
Do Islamic NPCs have a fixed rate?
No. Profit depends on the actual results of the Mudarabah pool. Expected rates are notified monthly.
Sources
- SBP — Naya Pakistan Certificate Rates and effective dates (27 Mar 2026 / 5 Jun 2026), eligibility, Islamic NPC; checked 17 Oct 2026 Official
- SBP — Naya Pakistan Certificate FAQs Tenors, profit frequency, minimums, encashment, 10% WHT, zakat, INPC structure Official
- SBP — Roshan Digital Accounts Agent banks and account opening Official
Estimate and information only, not legal or tax advice. Customs and FBR make the final decision. Spotted a rule change? Tell us.