Prize Bond is a non-interest bearing security issued on behalf of Government and the funds raised are used to offset government borrowing and meet the government expenditure and are refundable to the bond owner on demand. Interest is returned to bond owners via prizes which are distributed by means of random selection of bonds. The Government of Pakistan borrows/earns billions of rupees and gives away prize money of billions of rupees at every draw. The governement earns profit for the borowed money through investment, while people who invested in the form of bonds earn through lucky draw rather than interest.
The Government of Pakistan started the National Prize Bond Scheme in order to borrow money from the public at cheaper rates and give cash prizes in lucky draws. The first scheme of National Prize Bonds was lauched by the Directorate of National Saving Center of Pakistan in 1960. Ever since these lucky draws are being held in major cities about 24 times annually. Prize Bonds are available in denominations of Rs200, Rs750, Rs1,500, Rs7,500, Rs15,000 and Rs40,000. The highest prize for a Rs200 bond is Rs750,000 and for a Rs40,000 bond it is Rs75 million. Every year around 70,600 Pakistanis get Rs1.6 billion in prize money after tax deduction for their investment.
The bonds are issued in series. Each series consist of one less than 1,000,000 bonds. No fixed return is paid but prize draws are held on quarterly basis. The draws are held under common draw method and the number of prizes are same for each series. It means that if 50 series of Rs.200 Prize Bond are in circulation. Then on each draw we have 50 winners of 1st prize and 150 winners of 2nd Prize and so on.
Some important things to be known;
Presently, the Govt. of Pakistan is offering prize bonds having face value:
All prize bonds issued at least 60 days prior to the draw date are entitled for winning a prize.
A prize bond remains valid till the scheme termination.
Maximum time period to avail the prize is six years from the date of draw.
25% in the case of non-filers. 15% for filers against the prize money is deducted at source at the time of payment of prize money.
60 days prior to a draw, the State Bank and other authorized organization stop selling the prize bonds of that particular denomination. This period of 60 days is called the shut period. Usually prize bonds are traded at open market rates during this time.
You can buy and sell these instruments from any National Savings Centers, State Bank of Pakistan before shut period.
State Bank of Pakistan issues a schedule of draw dates for each year which is also available at prizebond.bz with full details.
The prize money up to Rs. 1,250/- can be claimed from any National Savings Centre, branches of authorized scheduled banks or branches of the State Bank of Pakistan. Prize money exceeding Rs. 1,250/- can be claimed only from the branches of the State Bank of Pakistan.
To claim the prize money, fill the prescribed Form available at www.savings.gov.pk along-with following documents.
Big investors invest in huge amounts and buy more prize bonds; therefore their probability of winning prize money is greater than the individual who buys a single prize bond. However, draw is held separately for each prize and small investor can win big prize.
|Second Prizes||180469, 384302, 611891|
|Complete List||View 750 Draw Complete List|
|Second Prizes||325798, 339809, 997942|
|Complete List||View 15000 Draw Complete List|
|Second Prizes||224444, 224444, 224444, 224444|
|Complete List||View 200 Draw Complete List|
To download a draw list, select a date of draw and click on "View List!" Button.