Why Rs 40,000 Premium Prize Bond investment observing more interest
Central Directorate of national savings report shows that investment in Premium Rs 40,000 prize bond has observed a growth of 21% to Rs 20.54 billion by the end of October 2020 compared to 16.93 billion in the same period last year.
The premium Prize bond of Rs 40,000 were launched in 2017 to get the prize bond money investment in a registered domain. Premium Prize Bond of Rs 40,000 can be purchased only after registration against CNIC. An applicant should have a valid bank account to get a premium prize bond.
For example, if anyone wants to buy Rs 40,000 premium prize bond then
- First, he/she should have a bank account in any Pakistani bank.
- The next step is to ask for the maintenance certificate from your bank.
- After you get a maintenance certificate, download the application for Rs 40,000 premium prize bond from a website and fill it.
- Visit State Bank of Pakistan with CNIC, maintenance certificate, and application form and purchase your Rs 40,000 premium prize bond after following a procedure that is almost 1 hour long.
- Your application will be registered, and after a formal audit check, the counter person will deliver you, your prize bond.
- Application form for Rs 40,000 Premium bond is also available from State bank desks.
- Premium Prize bond can also be got from National savings or from the few commercial bank branches too. The procedure will remain the same.
Key features of Premium Prize Bond
- The bond will be registered to the applicant's name.
- The reason behind the popularity of investment in premium prize bonds is that the government has established profit incentives with it.
- The government has announced a biannual profit of 1.79% on investment which will directly transfer to a bondholder bank account. The profit rate on premium bonds is variable. For example, if anyone gets one premium bond with him/her for long period then the profit will keep on adding to the account every six months.
- The investment in the Premium prize bond is secure. If the premium prize bond is stolen or lost then visit the state bank to report the loss. Fill in the application there to secure your number.
- Another attraction in Premium prize bond from State bank is their serial numbers. It is usually a perception trying to get prize bonds in series that it increases the chance of winning. And already Premium Prize bonds are given in series at purchase of more than 1 premium prize bond. Though it depends on your luck too, as you can't ask for the number of your choice.
- Premium prize bonds can be transferred to anyone.
- Premium prize bonds can be pledged against any security.
- The investment is Rs 40,000 premium Prize bond also saw a rise after the government announced to withdraw the same denomination unregistered prize bond. However, the date of discontinuing the bearer bond of Rs 40,000 is extended to Dec 30, 2021.
The action is taken to remove unregistered debt securities,
and to follow the verified source of income according to the requirement of FATF.
The first prize amount against Rs 40,000 premium prize bond is Rs 80000000.
The second prize amount is Rs 30000000(3 winners)
The third prize amount is 40,000 ( 660 winners )
The premium prize bond draw held every three months.
You can hold a prize bond for an unlimited period and it'll keep on adding next draws plus the profit.
You can encash your premium prize bond from the bank at any time.
The Prize money will directly come to the winner's account and there is no need for application and claim for it in a premium prize bond.
The person in whose name this premium prize bond is registered is entitled to receive a sum of forty thousand rupees along with applicable profit, in addition to such prizes as may be won on this bond by the rules framed by the government of Pakistan.
The next Rs 40,000 premium prize bond draw dates:
10-3-2020
10-6-2020
10-9-2020
10-12-2020
You want to buy Rs 40,000 premium prize bond then Download the application form here.
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