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Quick notes about prize bonds in Pakistan

National Prize Bond Scheme was initiated by the Government of Pakistan in year 1960. The aim was to borrow money from the public and reward back them with cash prizes through draws on different dates. Actually, Prize Bond is a lottery bond but it is really safe investment as it is offered by the National Savings operated by the Govt. of Pakistan. Prize bond is bearer type of investment security and it is available in different denominations.

The Prize Bonds in Pakistan are available in Rs. 100, 200, 750, 1500, 7500, 15000, and two types of Premium Bonds denominations in Rs. 25000 and Rs. 40000 as of year 2020.

The lucky draws of prize bonds are being held every alternate week which is respectively on the 1st date of every month as well as the mid or 15th. Each denomination draw is held quarterly.

Anyone Pakistani who is either living inside the country or outside is eligible to buy prize bond from any bank or private prize bond dealer such as Sammars & Sammars in Lahore, Pakistan. Prize bond has no expiry date so the bonds remain valid un till Govt. may authorize to terminate this scheme so there is not any age or expiry date for prize bonds.

Maximum time period to avail the prize of any prize bond is six years from the date of its draw result.

Another point to be noted that there is not any refund or any exchange available for prize bonds, it is a barrier type of bonds which means whoever is in the possession or holding the prize bonds, will get the prize money. so, keep your bonds safe because there is no refund or exchange available for them.

Despite all this, in year 2020, Govt has passed new low that prize bonds of Rs. 25000 and Rs. 40000 can be hold only with proof of identity card and no one else will be eligible to cash or get the prize of prize bond. Such type of prize bonds called premium prize bonds.

 

Who We are

As CEO at Sammars & Sammars, I worked for a long time to provide services in the field of prize bonds and its kind of other related products.

 

Muhammad Nadeem

CEO

Working at Sammars & Sammars as Assistant Manager, I learned tips and techniques to run the business model of prize bonds and draw result lists etc.

 

Gohar Ali

Assistant Manager

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