Do you want to know what premium prize bond are all about? Well, if not, then this is the right place for you to get some immediate information about this category of bonds and how you can acquire it. Like an ordinary bond, you can easily purchase premium bonds from national savings Center, commercial banks, or the State Bank of Pakistan. Let’s have a quick discussion about premium prize bonds!
Important Features
The profit rate is around 3.33% bi-annual.
Available in the range of Rs 40,000/- Denomination.
It is registered by the name of the owner or leading investor.
Quarterly Prize set of Money Draws along with the Bi-annual Profit Payment.
For Individuals, or Public and Private based Sector Institutions except for the Banks or Insurance Companies as well as mutual funds.
Direct Credit of your Prize Money and the Profit into the Investors personal Bank Account.
No such Application Forms are hence required for the sake of claiming your prize money or the Profit.
The highest prize is around Rs 80,000,000/-.
Unlimited Investment and essential tenure.
These prize bonds are WHT applicable and are also exempted from Zakat.
Transferable and also Pledge-able.
Can be bought through the Cash, Cheque, or Pay-Order or even bank Draft
It can also be purchased right through the office centers of State Bank of Pakistan or National Savings
Frequently Asked Questions about Premium prize bonds
1. What is meant by a premium prize bond?
Premium prize bonds are the newly introduced scheme by the National Savings in which the investor gains the opportunity to earn the winning amount along with Profit.
2. What kind of denominations is part of a premium prize bond?
Well, there is only one denomination of maximum Rs 40,000 that has been introduced in this category, and the remaining of them is still in process.
3. What is the approximate rate of Profit of this premium prize bond?
The profit rate of this premium prize bond is around 3.33% bi-annual.
4. How many draws of the premium bonds are held in a year?
Four quarterly timelines of the prize money draw in one year are arranged.
5. Who is eligible to purchase a premium prize bond?
Any such Pakistani Individuals, or the Public and Private Sector Institutions are eligible in which mutual funds, insurance companies, and banks are not included.
6. How can you claim for winning amount?
To claim the winning amount, you don’t need to fill any application form as you will have the amount to be credited directly to your investor bank account.
7. Can you transfer your premium prize bond to someone else?
Yes, these bonds are transferable.
8. Can you pledge your premium prize bond?
Yes, you can pledge your bond.
9. Does premium prize bond have any limits over Investment and time?
No, there is no such limited over tenure or Investment.
10. Do corporate clients and individuals have to take the same application forms?
No, both of them have different types of application forms.
11. Is there any tax that applies to the premium prize bond?
Yes, there is an availability of WHT on the Profit along with the winning amount.
12. Is Zakat also applicable to the premium prize bond?
Premium prize bond is fully exempted from the Zakat.
13. What is the maximum winning amount of a premium Prize bond list
The highest prize of this premium prize bond is often set as Rs. 80 million.