What are Premium Prize Bonds all about? Check out Interesting Facts!

Right in this blog guide, we will be explaining a quick guide about what premium bonds are all about and how this bond is beneficial for you!

We all know that the timeline category of prize bond is divided into so many categories and among all such categories; a premium prize bond is one of the most talked-about bond types. It is known to be the highest form of the bond type which is based on a greater winning amount for any person. This category of bond has always remained the top favorite among investors who have been looking ahead to make a handsome amount of money.

You can choose to invest in this bond all through the State Bank of Pakistan as this bond is having a high purchasing limit. But due to such premium bonds, the economy of the country has been a lot dropping due to which the printing of the unregistered premium bonds of Rs 40,000 has been stopped.

Now many people who are looking ahead to purchase this premium bond, do need to know a few interesting things about this premium prize bond list national savings. Let’s check out below:

• This bond is the newly introduced scheme series by the National Savings which will enable the investor to earn maximum money and at the same time make some profit as well.

• When it comes to the timeline series of premium prize bond list, you will be given away with just one denomination which is around 40,000. But most of the time, it even adds up with the rest of the bond denominations as well so it can eventually increase the value of other smaller bonds.

• Besides the profit rate which is part of this premium bond is around 1.5% as bi-annual.

• The reason why it is known to be the registered bond is that the name of the investor is registered over this bond at the time of purchasing.

• The draw process of this prize bonds is arranged just once in the whole year.

• This bond can be purchased by an ordinary Pakistani person or even by the individuals who are working in the private and public sectors. Insurance companies or the bank sectors cannot purchase this category of the bond.

For claiming this bond as a winner, there is no need to get into the filling of any claim application form. This is one of the biggest benefits of the premium bond category for any person. You can even purchase the prize bond guess paper which is available from different sectors in the form of a cheque or as the pay-order. You do have a choice where you can also get the draft right through the office centers of State Bank of Pakistan Banking-Services Corporations (SBP-BSC).

For purchasing thisprize bond result, you have to, first of all, submit some documents of CNIC and also the copy of the Account Maintenance Certificate that needs to be entitled with your A/C title, as well as IBAN Number, with the status of your A/C, and branchname of your bank. There is also a need where you have to give away the tax certification document as the filer with the details of CNIC of the nominee. Tax is also applied which his different on the buying bond and the winning amount. Zakat will not be part of any bond or any winning amount. To date today, Rs 80 million is the biggest winning amount which is set into the premium bond.