Prize Bonds

‡ Introduction

‡ Sale and Encashment of Prize Bonds ‡ Draw of Prize Bond ‡ Claim of Prize Money ‡ Destruction of Prize Bonds

Presented by: Salman Saeed Soomro MBA(Finance) Sukkur Institute of Business Administration

Introduction
‡ National Prize Bonds issued as a Central Government loan and will be treated as Government bearer Bonds ‡ Prize Bonds is in under of Ministry of Finance and National Directorate ‡ Major instrument of internal source ‡ Started from the Oct 1960 with the Rs. 10/denomination ‡ Old denomination effective up 1999 ‡ They introduce new denomination in 1999

Sale & Encashment of Prize Bonds
‡ Sold against cash and no formal application is required for purchase ‡ Sale conducted at cash counter of the field Offices ‡ Bonds holder en-cash their holdings at any time from any Field Office of SBP, Commercial Banks, Post Offices and Saving Centers

Draw of Prize Bonds

‡ Draw will conducted after every Three Month for all denominations ‡ For Lower Denomination draw will be held on 15th of nominated month ‡ For Large Denomination draw will be held on 1st of nominated month

Claim of Prize Money

Time Line for Prize Money Claims Prize Money up to Rs. 18,500/Prize Money up to Rs. 185,000/Prize Money up to Rs. 500,000/Prize Money above Rs. 500,000/same day (30th draw onwards) 10 working days 15 working days 20 working days

Denominati No. ons 200/750/1500/7500/15000/40000/prize 1 1 1 1 1 1

of Amount of No. prize 750,000 1,500,000 3,000,000 prize 5 3 3

of Amount prize 250,000 500,000 1,000,000 50,000,000 10,000,000 25,000,000

of No. prize 2,394 1,696 1,696 1,696 1,696 1,696

of Amount prize 1,250 9,300 18,500 93,000 185,000 500,000

of

15,000,000 3 30,000,000 3 75,000,000 3

Destruction of Prize Bonds

‡ One day before the draw of any Denomination ‡ For Lower Denominations Prize Bonds are destroyed at Field Offices of SBP ‡ For Large Denominations Prize Bonds are sent to concern PDO

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