A prize bond is a lottery bond offered by National Savings Pakistan or the Ministry of Finance. Prize bonds are issued in Pakistan by the Government of Pakistan.
Here we would like to share with the consumers an idea that the use of prize bonds is considered to be one of the most important investment in Pakistan. This is a type of gold investment or also called career type investment security which comes without any premium or profit. In Pakistan, prize bonds are issued with a suitable series or sequence. However, each series continues at one million (1,000,000). It is to be noted that no profit or interest is applicable on these bonds and every lottery is announced quarterly. During the quarterly prize bond results, the winners are announced through a lucky draw. Major cities of Pakistan have been allotted for lottery. Prize bonds are drawn about 36 times a year in Pakistan. According to a survey, about 70,600 Pakistanis are nominated as winners each year, earning about 1.6 billion Pakistani rupees annually. The following are further details regarding the prize bond scheme in Pakistan.
Background / History of National Prize Bond Scheme
Highlighting the background of the prize bond, we saw that the first prize bond has dimensions of Rs. 10 and Rs. 100 were issued by the uninterrupted Indian government in the subcontinent. This act was enacted on January 15, 1944. Bonds could be cashed on any date after January 15, 1949. It was called the Five Year Interest Free Bond 1949 Scheme.
However, after the partition, under the Government of Pakistan Act, the National Reward Bond Scheme was introduced in 1960 in which a rupee-denominated bond was issued. 10. The purpose of this scheme is to offer public prize bonds at cheaper rates and give huge cash prizes through lucky draw. The government of Pakistan is earning billions of rupees through this scheme but the problem is that not every investor is earning the money he can afford to buy prize bonds.
Buy National Prize Bonds
Well, one of the most common questions asked by consumers is where they can buy prize bonds in Pakistan. Therefore, all consumers are informed that the National Reward Bond Scheme was initiated by the Central Directorate of National Savings, CDNS. However, the State Bank of Pakistan authorizes Bank Al Habib to extend the planned scheme to the public. Consumers are also informed that National Reward Bonds of all dimensions are available at all field offices of SBP BSC (Bank). In addition, they can be purchased from National Savings Centers and all designated branches of commercial banks. Furthermore, for the convenience of consumers, there are many authorized dealers in almost all major cities of Pakistan who deal in almost all types of prize bonds. It is recommended that you purchase prize bonds from authorized banks. However, if you want to buy prize bonds from your nearest dealers, make sure that you are buying the right things for the right amount.
Schedule of results of prize bonds
Today, prize bonds are available in approximately 09 dimensions or quantities and are included in Rs. 100, Rs. 200, Rs. 750, Rs. 1,500, Rs. 7,500, Rs. 15,000, Rs. 25,000, Rs. 40,000, and Rs. 40,000 premium bonds. There are 2 to 4 lucky draws every month. There are 4 lucky draws for each prize bond and about 36 lucky draws throughout the year. Lucky Lottery is held in different major cities of Pakistan. For each prize bond, approximately 3 awards or prizes are announced. The first prize is given to one candidate, the second prize is given to three candidates, and the third prize is distributed among several candidates and the number of candidates varies according to the different dimensions of the national prize bonds. Consumers are informed that here on this platform, Rafiqq.Com, they will be provided a list of prize bonds 2022 and they can also see the results of each lucky draw prize bond. Users can also find all the prizes or awards for each lucky draw.