What is Prize Bond Pakistan?

Prize Bond Pakistan is a kind of lottery, which enables the average or the poor people of Pakistan to invest their savings with government. This investment is totally safe and sound, without any treachery involved. If you are lucky enough and which in most cases, you are. Then you will be able to get the prize money. Which is different according to the first, second, third prize and the value of the Prize Bond? The most important thing of this is that the prize Bond is also considered as a hard paper money in Pakistan that is, the money, according to value of that prize, Bond can easily be withdrawn from any bank of Pakistan any time. Pakistani government issues eight types of prize bonds, which are as follows:

Rs:100Rs:200Rs:750Rs:1500Rs:7500Rs:15000Rs:25000Rs:40000

All these prize bonds are issued in series, and each of the series consists of 1 million prize bonds. Unlike the banking system, there is no fixed profit for these savings. This totally based on your luck that you are able to win the prize or not. Winners are decided by the lucky draws which are held four times a year for every type of prize Bond. Depending on the number of series. There are 50 winners for first prize and 150 winners of second prize and winners of third prize are in thousands. Buying the prize bonds with serial numbers in series enhances the chances of winning a prize. And in most case's people having these series do get their prize, which is mostly the third one.

The claim of the prize Bond Pakistan could be made within the six years of the declaration of a prize. And when someone claims his prize. The value of a prize Bond is also given back to him with that prize money after a small deduction of government tax.

This is a very good initiative taken by government, which gives mutual benefit both to the person who is investing his money in prize Bond and also to the government. The prize Bond of Pakistan helped a lot of poor people to upgrade their style of life, and still it is doing so. This scheme of government has become so popular that even the rich people are also buying a lot of prize bonds to try their luck.

It might be possible that a question arises in mind of the people that how it is beneficial for government? Because government is only having a money from you, and you can claim that many at any time you like, but still there are large amounts of prize money, which is distributed every year to all the winners of the prize bonds?

To understand this, you should have some knowledge of commerce. A commerce student can easily understand that how government is getting the benefit from this prize bond scheme. As the matter-of-fact, you are giving your savings to the government which allows it to use this money in different kind of investments.

The process is, same like the banking system in our country. That you are depositing your money in your bank accounts, and the banks are investing that money in different kind of schemes, and they share some amount of that profit to you. Similarly prize bonds is the scheme in which government instead of sharing the profit to everyone only announces some number of winners, and a portion of that profit gained by that investment is given to them.

Even this is a small amount of the prophet, which is given as prize money to the prize bond holders, but still it is helping a lot of people to improve their way of living. On the other hand, it is also helped to your government, which is running different kind of projects for the welfare of its citizens.