Premium Prize Bond Rs. 40000 - Results and, Draw Results, Schedule Dates and News

Premium Prize Bond of Rs. 40000

The government issues the prize bond for the public. A prize bond is a type of lottery. As its name indicates, the government gives prizes instead of interest on fixed amounts after regular intervals.

After the division of the subcontinent, Pakistan came into existence. The government of Pakistan issued the first prize bond of Rs. 10 in October 1960, which was supervised by the Central Directorate of National Savings (CDNS). Later on, the bond was launched by minister K. M. Sheikh, and he also purchased the first bond. The 1st prize bond was drawn in January 1961. Later on, prize bonds of 11, 50, 100, 200, 500, 1000, 15000, and 25000 were introduced.

Premium prize bonds have no risk. Money is safe in prize bonds. Only the amount of prize money changes in the prize bonds.

Here, in this article, we will discuss the premium prize bond of Rs. 40,000. The premium prize bonds have a profit rate of 3.33% bi-annual. The banks, mutual funds, and insurance companies can not apply for the premium prize bond. Individuals, private sector organizations, and the general public can apply for the bond.

Premium Prize Bond Purchasing Process:

 The premium prize bonds can be purchased through cheque, pay the order, bank draft, and cash. The premium prize bond of Rs. 40000 can only be purchased from the five major cities of Pakistan. The cities are as follows:

• Islamabad
• Karachi
• Lahore
• Peshawar
• Quetta

The bonds can be purchased from the National Saving Centres of the above cities.

 Procedure for applying the bond:

The procedure for applying for the premium prize bond is given below:

• Download the application form. The application form can be download from the websites of the National Saving Centre or the State Bank of Pakistan.
• For applying for the prize bond applicant needs to attach the Account Maintenance Certificate. This certificate is for the account, which is mentioned in the application form.
• The bank account should be present in the same city from where a person is applying for the prize bond. The International Bank Account Number (IBAN) is necessary for the application form.
• Tax filer certificate from FBR (if the applying person is a filer) is also necessary.
• Photocopy of National Identity Card.

Fill the application form downloaded from the website. Attach the account maintenance certificate, photocopy of CNIC, and tax filer certificate, and submit it to the State Bank of Pakistan.

Printing of Prize Bond:

Pakistan Security Printing Corporation prints the bonds after the approval of the Government of Pakistan. The printing is done in a secure way to avoid fraud.

Regulation of Prize Bonds:

The National Saving Centre regulates the prize bond scheme with the collaboration of the State Bank of Pakistan. They regulate the prize bond scheme under the Ministry of Finance and Government of Pakistan.

Prize Bond Draw:

The premium prize bond is drawn every three months. The lucky draw ceremony is held by the 10th of each month. Lucky draw months are given below:

• March
• June
• September
• December

Prizes of the Premium Prize Bond of Rs. 40000:

Prizes after the draw of the bond are as follows:

• The 1st prize with one winner has the amount of 80,000,000.
• The 2nd prize with three winners has the amount of 30,000,000.
• The 3rd prize with 660 has the amount of 500,000.

Conversion of Bearer Bond to Prize Bond:

The bearer prize bond can be converted to a premium prize bond. Conversion is done by the authorized branches of the following six banks:

• MCB Bank Limited
• Habib Bank Limited
• National Bank of Pakistan
• Bank Alfalah Limited
• United Bank Limited
• Allied Bank Limited

Prize Bond Money Claiming:

 To claim the prize bond following are the requirements:

• Original CNIC card of the applicant.
• Prize bond original.
• Photocopy of the prize bond with the applicant's signature on the backside.

The National Saving center takes eight working days to complete the necessary data. After the eight days, the winning amount is transferred to the account of the winning person. The results of the prize bond can be easily searched from the web or the specific application of the National Serving Centre.

If a person fails to respond at that time, then he/she can contact the bank within six years from the lucky draw date to claim the reward.

The premium prize bonds are expensive. Generally, the public does not show interest in buying it. Mostly the businesses buy this bond in order to invest. Bonds are safer than the stock exchange because there is a fixed amount winning option. The most advantageous condition of the prize bond is that its money and terms and conditions do not alter throughout the scheme. There is no limit to prize bond purchasing; anybody can purchase any denomination of the bond.