Investment options in Pakistan compared: property, PSX, mutual funds, savings certificates, gold, forex and crypto

The main investment options in Pakistan are National Savings schemes, bank deposits, PSX shares, mutual funds, property and gold. Crypto businesses now need a licence, and offshore forex apps are barred for residents. As of October 2026, National Savings pays 10.80% to 12.72%, the State Bank’s policy rate is 11.5% and inflation is 10.3%. Any option that earns less than about 10% after tax is losing value in real terms.

We don’t rank these options. The table shows the facts. The sections below say which option fits which need, and why.

How do investment options in Pakistan compare?

As of early October 2026. Tax is for filers (people on FBR’s Active Taxpayer List); non-filers usually pay double.

Property needs its own homework. Start with our property guides for approvals and prices by society.

What returns have shares, funds and gold given in the past?

Past returns, not a forecast. MUFAP (Mutual Funds Association of Pakistan) ranks open-end funds by their return over the 365 days to 31 August 2026:

Money market funds sat in a narrow band, 9.27% to 11.05%, close to the 11.5% policy rate. Equity funds ranged from 4.70% to 45.42% in the same year.

One year hides the bad ones. Al Meezan’s own figures for its KSE Meezan Index Fund show a loss of 10.69% in FY22 and a gain of 75.02% in FY24. Its money market fund never lost money between FY21 and FY25. That gap is the risk you take for the higher average.

What is the real return after tax and inflation?

Real return is roughly what’s left after tax and inflation. Using September 2026’s 10.3% inflation:

Inflation was 5.8% in September 2025, so these numbers change fast. SBP’s medium-term inflation target is 5% to 7%.

What is the best investment in Pakistan for monthly income?

Monthly payers among government schemes, per Rs 1 lakh, from 1 Oct 2026:

• Behbood Savings Certificates or Pensioners Benefit Account: Rs 1,060 a month, no tax deducted. Only for people over 60, widows, persons with disability, or pensioners.
• Regular Income Certificates: Rs 980 a month before tax, Rs 833 after 15%. Open to everyone, minimum Rs 50,000.

Shares and funds may pay dividends, but the amount isn’t fixed.

What is the best investment in Pakistan for the short term?

If you need the money back within a year, price swings matter more than return:

• Short Term Savings Certificates: 10.80% for 3 months, 11.08% for 6 months, 11.31% for 12 months. You can’t cash them in the first month.
• Money market funds: returns follow interest rates (see the table above).
• Bank deposits: access depends on the account, and profit is taxed at 20% for filers.

Shares, gold and property can be down exactly when you need to sell.

What are safe investment options in Pakistan?

“Safe” here means the government sets your rate and your rupee amount isn’t exposed to market prices. That covers National Savings and, for overseas Pakistanis, Naya Pakistan Certificates. Neither protects you from inflation: at September 2026’s 10.3%, a filer in Defence Savings is slightly behind.

Shares, equity funds, gold, property and crypto can all lose value. SBP’s circular of 18 May 2022 says residents buying from offshore forex platforms breaks the Foreign Exchange Regulation Act.

What are halal investment options in Pakistan?

• Shariah-compliant shares on PSX, screened under SECP’s guidelines.
• Islamic mutual funds and pension funds, including Islamic money market, equity and gold funds.
• Sarwa Islamic accounts from National Savings.
• Islamic Naya Pakistan Certificates for overseas Pakistanis, which pay actual Mudarabah profit instead of a fixed rate.

What can overseas Pakistanis invest in?

Through a Roshan Digital Account: Naya Pakistan Certificates, PSX shares, the bank’s funds, government securities and property. Property must be held three years before the full sale proceeds can be sent abroad. Details in Roshan Digital Account investment.

Which option suits whom?

Each line follows from the facts above:

• You need fixed monthly income and qualify for Behbood or Pensioners: 12.72%, no tax deducted.
• You need the money within a year: Short Term certificates or a money market fund.
• You won’t touch the money for 5 years or more and can watch it fall 10% in a bad year: shares or an equity fund.
• You want an inflation hedge and accept swings: the one gold fund in MUFAP’s ranking returned 24.70% in the year to August 2026, but the same fund lost 0.65% in FY21.
• You’re a non-filer: becoming a filer cuts the tax by half or more on most of these. See how to become a filer.

More guides: how to invest in PSX, PSX account opening, mutual funds in Pakistan, National Savings certificates, Investing.