A Prize Bond is a draw bond, a non-interest manner security issued. Funds raised are used to offset government borrowing and are refundable to the owner of the bond on demand. Interest is given back to bond owners via prizes that are distributed by means of random selection of bonds. Prize Bonds are accessible in Pakistan, by the Ministry of Finance, and within the UK, under the name Premium Bonds.
Prize Bonds are a unique kind of investment. Instead of paying interest, Prize Bonds offers customers the possibility to win prizes every week.
All money prizes are exempt in Pakistan, and Prize Bonds is paid in at any time once the minimum holding period of 3 months.
Pakistan Prize Bonds aren a simple piece of paper. Prize Bond is considered as a security of holder type. Multiple values are accessible for Pakistan Prize Bonds that vary from Rupees200 to Rupees 40,000. Pakistan Prize Bonds follows a selected series. It accounts quantity 1000,000 for one series of Pakistan Prize Bonds. Four draws are held every year e.g. after three months interval and no fixed return is needed to be paid by bearer of Pakistani Prize Bonds. a standard draw method is used a quantity of prizes remain same for a selected series of Pakistan Prize Bonds. For example, fifty winners of Pakistan Prize Bonds first Prize and 200 & fifty winners of 2nd prize are denounced if theres a circulation of 50 series against Rupees 200 denomination of Pakistan Prize Bonds.
This scheme is that the only legal resource for people of lower-middle classes to get financially stable with in no time by wining award levied on West Pakistan Prize Bonds. However there are sure factors that place Pakistan Prize Bonds scheme out of spot light. for example an increment of 8-50 basis points is obligatory on Pakistani Savings Certificates that are Defense Saving Certificate, Behbood Saving Certificates, Regular income Licenses, Special Saving Certificates Registered yet no attention is given just in case of Pakistani Prize Bonds. However with passage of time, as people are becoming aware Pakistan Prize Bonds day by day, the scheme of Paki Prize Bonds can attain desired outcomes.
Prize Bonds is gold investment and are bearer kind of security available within the denominations of Rs.200, 750, 1,500, 7,500, 15,000, 25000 and up to 40,000. These bonds are issued in series. Every series consist of 999999 bonds. No permanent profit is paid however prize draws are persisted quarterly basis. The draws are command under common draw method and therefore the range of prizes is same for every series. It means if 50 series of Rs.200 Prize Bond are in rotation. Then on each draw weve got 50 winners of 1st prize and 150 winners of second Prize and much more. This scheme is the only legal source for poor and middle class people asset opportunities to become rich all of a sudden and creating their dreams true Prize bond offers investment choices and its much better then forex investment however this scheme has been neglected awfully.
Author: Muniba Mazar – Pakistan