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INVESTMENT IN PRIZE BONDS | PAKISTAN | IS IT WORTH?
Majority of people thinking nowadays, "Where do i invest ?" , and it is really hard for the people to make decision nowadays because of the current scenario of the economy.
There are so many other areas where people can invest and i will write a blog on those investments later aswell.
Today i want to share with you about Investing in Prize Bonds as it is Reliable Source of Investment and anyone can invest in it without loosing the original Investment Amount.
There are 2 Kinds of Prize Bonds that State Bank of Pakistan is Offering:
- Regular Prize Bonds
- Premium Prize Bonds ( Bearer Bonds )
Now, you will ask yourself "What's the Difference, between Normal Prize bonds & Premium Prize Bonds!!"
So, Now I will Explain to you in detail about it
Regular Prize Bonds
These Normal Prize Bonds Comes in Following Denomination:
- 100
- 200
- 750
- 7500
- 1500
- 15000
Every Denomination has its 1st, 2nd and 3rd Prize and their Draw Happens Every 3 Months and the Lucky ones can become Millionaires in a night and if by chance they don't win the Prize in the Draw then they can become Lucky in next Draw which happens every 3 Months.
So Now Your Thinking " How Much is the Prize Money!! "
So Let's Talk About the Details of its Prize Money.
Every Denomination has its own Specific Kind of Prize Money that comes with it. Lets cut to the chase and See what it is :
DENOMINATION (Rs | First Prize | 2nd Prize | 3rd Prize | |||
---|---|---|---|---|---|---|
No | Amount (Rs) | No | Amount (Rs) | No | Amount (Rs) | |
Rs.100/- | 1 | 70,000 | 3 | 20,000 | 1,199 | 1,000 |
Rs.200/- | 1 | 750,000 | 5 | 250,000 | 2,394 | 1,250 |
Rs.750/- | 1 | 1,500,000 | 3 | 500,000 | 1,696 | 9,300 |
Rs.7,500/- | 1 | 15,000,000 | 3 | 5,000,000 | 1,696 | 93,000 |
Rs.1,500/- | 1 | 3,000,000 | 3 | 1,000,000 | 1,696 | 18,500 |
Rs.15,000/- | 1 | 30,000,000 | 3 | 10,000,000 | 1,696 | 185,000 |
As per Govt.Policy. Rate of Tax for filers is 15% of prize value and for non-filers rate of tax is 30% of prize value.
Premium Prize Bond
Premium Prize Bond
- 1 Prize(s) of Rs.80,000,000
- 2nd Prize(s) of Rs.30,000,000
- 3rd Prize(s) of Rs.500,000
SALIENT FEATURES
- Profit Rate is 3.33% bi-annual.
- Available in Rs 40,000/- Denomination.
- Registered in the name of investor.
- Quarterly Prize Money Draws as well as Bi-annual Profit Payment.
- For Individuals, Public and Private Sector Institutions except Banks, Insurance Companies and Mutual funds.
- Direct Credit of Prize Money and Profit in Investors Bank Account.
- No Application Forms required for claiming prize money & profit.
- Highest prize of Rs 80,000,000/-.
- Unlimited Investment and Tenure.
- WHT applicable & Exempt from Zakat.
- Transferable & Pledge-able.
- Can be purchased through Cash, Cheque, Pay-Order and Bank Draft
- Can be purchased from offices of State Bank of Pakistan Banking Services Corporations.
*In case of public holiday the draw will be conducted on next working day.
Following documents are required for Premium Prize Bond Sale Application.
- Copy of CNIC.
- Account Maintenance Certificate ( A/C title , IBAN number , status of a/c , Bank & Branch Name).
- Tax Certificate in case of Filer.
- Nominee CNIC detail.
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