National Saving Prize Bond Draw Schedule 2024

National Saving Prize Bond Draw Schedule 2024

The National Saving Prize Bond Draw Schedule 2024 outlines all the dates for upcoming prize bond draws throughout the year. It helps investors stay updated on when and where each draw will take place. The schedule includes important details like the specific dates for each draw and the types of prize bonds involved. This information ensures that participants can track their investments and check for winning numbers on time, making it a valuable resource for anyone involved in prize bond savings.

Introduction to Prize Bond Scheme

The Government of Pakistan has introduced a prize bond scheme to encourage people to save money and invest in safe, government-backed security. These prize bonds are issued by the National Savings Pakistan, part of the Ministry of Finance. This scheme allows people to buy bonds and participate in regular draws for a chance to win cash prizes.

What are Prize Bonds?

Prize bonds are a type of investment security that does not pay interest or profit. Instead, bondholders participate in periodic draws where winners receive cash prizes. This makes prize bonds a unique form of investment, often considered similar to a lottery.

Must Read: What are Prize Bonds? Types, Benefits, and Tips for Beginners

Denominations of Prize Bonds

Prize bonds in Pakistan are available in various denominations to cater to different investment capacities. The denominations include:

List of Prize Bonds Denomination

Prize Bond Draw Schedule

The schedule for prize bond draws is released annually and is available online. For 2024, the schedule specifies the dates, draw numbers, and cities where each draw will take place. These draws are held from January to December, ensuring continuous opportunities for bondholders to win prizes.

Official Prize Bond Draw Schedule 2024 -Rs. 100, 200, 750, 1500

Official Premium Prize Bond Draw Schedule 2024

How Prize Bonds Operate

Prize bonds are issued in series, with each series limited to 1,000,000 bonds. The draws are conducted quarterly, and each draw reveals the lucky winners of various cash prizes. Approximately 36 draws are held each year in major cities across Pakistan.

Prize Money

Each denomination of the prize bond has a specific prize structure. Here are the first prize amounts for the different denominations:

• Rs. 100 bond: Rs. 700,000
• Rs. 200 bond: Rs. 750,000
• Rs. 750 bond: Rs. 1,500,000
• Rs. 1,500 bond: Rs. 3,000,000
• Rs. 7,500 bond: Rs. 15,000,000
• Rs. 15,000 bond: Rs. 30,000,000
• Rs. 25,000 bond: Rs. 50,000,000
• Rs. 40,000 bond: Rs. 75,000,000

Investing in Prize Bonds

Investing in prize bonds is considered safe since it is backed by the government. While these bonds do not yield regular interest, the potential to win large sums of money through draws makes them an attractive option for many investors.

Redemption of Prize Bonds

If bondholders need cash, they can redeem their prize bonds at any bank or the State Bank of Pakistan without any deductions. This feature ensures liquidity and ease of access to funds when needed.

Tax Implications

Prize money from prize bonds is subject to taxation. The tax rate depends on whether the bondholder is a filer or non-filer of income tax returns:

• Filers (those who regularly file tax returns) pay a 15% tax on the prize money.
• Non-filers (those who do not file tax returns) pay a 30% tax on the prize money.

Checking Prize Bond Results

The results of prize bond draws are published online and can be accessed on the National Savings website. This ensures transparency and easy access to information for all bondholders. Additionally, for more detailed inquiries or assistance, individuals can leave comments on the website.

For More Details About the Prize Bond Draw Schedule 2024 Contact Here

Central Directorate of National Savings,
Postal Address-23-N, Savings House, G-6 Markaz,
Civic Centre, Islamabad.Pakistan
Phone. # 051-111-267-268, 051-9215741 (43 & 48)
Fax # 051-9215761
Email ID-info@savings.gov.pk
Website-www.savings.gov.pk

Summary of Key Points

• Prize Bond Scheme: Offered by the government through National Savings, providing a safe investment option.
• Denominations: Various amounts ranging from Rs. 100 to Rs. 40,000.
• Draw Schedule: Annual schedule available online, with draws held quarterly in major cities.
• Investment: No interest, but a chance to win substantial cash prizes.
• Redemption: Bonds can be exchanged for cash at banks without deductions.
• Tax: 15% for filers, 30% for non-filers.
• Results: Available on the National Savings website.

Also Read: Are Prize Bonds Halal: Understanding the Islamic Perspective

Conclusion

Investing in prize bonds, in Pakistan presents a chance for individuals to blend the security of government-supported investments with the thrill of winning monetary rewards. By grasping the bond denominations draw timetables, redemption procedures, and tax considerations investors can wisely assess their involvement in this program. For up-to-date information and outcomes, individuals can rely on the National Savings website as a source.