The State Bank of Pakistan Banking Services Corporation (SBP BSC) has provided answers to frequently asked questions. It is sufficient help for anyone interested in prize bond investment so these FAQ’s are added.
What are PRIZE BONDS?(Taken from national saving government website.)
Prize Bonds are bearer type of security available in the denominations of Rs.200, Rs.750, Rs.1,500, Rs.7,500, Rs.15,000 and Rs.40,000. These 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 250 winners of 2nd Prize and so on. The number and amount of prizes on various denomination of prize bonds for each series is shown in the following table:
| Denomination(Rs) | First Prize | 2nd Prize | 3rd Prize | |||
|---|---|---|---|---|---|---|
| No. | Amount (Rs) | No. | Amount (Rs) | No. | Amount (Rs) | |
| 100/- | 01 | 700,000 | 03 | 200,000 | 1,199 | 1,000 |
| 200/- | 01 | 750,000 | 05 | 250,000 | 2,394 | 1,250 |
| 750/- | 01 | 1,500,000 | 03 | 500,000 | 1,696 | 9,300 |
| 1,500/- | 01 | 3,000,000 | 03 | 1,000,000 | 1,696 | 18,500 |
| 7,500/- | 01 | 15,000,000 | 03 | 5,000,000 | 1,696 | 93,000 |
| 15,000/- | 01 | 30,000,000 | 03 | 10,000,000 | 1,696 | 185,000 |
| 25,000/- | 01 | 50,000,000 | 03 | 15,000,000 | 1,696 | 312,000 |
| 40,000/- | 01 | 75,000,000 | 03 | 25,000,000 | 1,696 | 500,000 |
Our family (Late Father’s) has been investing in prize bonds for last thirty years when there were 5, 10 and 11 rupees prize bonds. I was a little boy at that time. My father won two big prizes but I never won any big prize. I request Pakistani government to eliminate 10 percent tax on the national prize bonds prizes. We hardly win few prizes and pay huge tax on it. We are invigorating Pakistani government by our prize bonds investment but government never encouraged us. After all it is our own obsession since government did not force us to purchase prize bonds. People double their money in business in few years. So, government should care about its investors. From my services I do not get enough money for children education in good institutions, costly medicines and any tourism at all. One other important consideration is security of prize bonds. It can be snatched. Government may provide token numbers for the purpose of security. There should be any security during transportation.
More Details: Prize Bonds Investment, a cool website
