Tech Desk
Sep 11, 2024
The emblem of the State Bank of Pakistan during a news conference in Karachi, Pakistan, on Monday, Jan. 23, 2023. — Bloomberg
Prize bonds are considered a popular investment option in Pakistan, offering the chance to win substantial cash prizes while earning interest on your investment.
The bonds are bearer instruments, meaning they do not carry the holder's name, ensuring anonymity, while prize bonds are issued by the Central Directorate of National Savings (CDNS) and come in various denominations, including Rs100, 200, 750, 1500, 25000, and 40000.
How prize bonds work in Pakistan?
Purchasing a Prize Bond is an easy process. You can buy them from authorised banks or savings centres.
Once you purchase a bond, it is entered into a monthly draw where numerous cash prizes are awarded. The prizes range from small amounts to millions of rupees.
Read more: How much tax is deducted on prize bond money?
If you own a prize bond and are concerned about that can you get a duplicate prize bond, if the original is stolen then Gadinsider has got you covered.
Can you get a duplicate prize bond?
No, prize bonds are bearer instruments and whoever is holding the prize bond is the owner of the bonds and can claim prize money.
If you're looking for a way to invest your money and have a chance to win big, prize bonds may be a suitable option for you.
