About Prize Bond Scheme in Pakistan
Prize Bonds is gold investment and are bearer type of security available in the denominations of Rs.200, Rs.750, Rs.1,500, Rs.7,500, Rs.15,000,Rs.25000 and Rs.40,000. These Prize bond are issued in series. Each series consist of one less than 1,000,000 bonds. No fixed return is paid but prize draws are held on quarterly basis. The draws are held under common draw method and the number of prizes are same for each series. It means that if 50 series of Rs.200 Prize Bond are in circulation. Then on each draw we have 50 winners of 1st prize and 150 winners of 2nd Prize and so on.
Student Welfare Bond (SWB) Rs.100 Prize bond
This was stated by Director General National Savings, Zafar Mehmood during a meeting with delegation of National Youth Assembly. He said, "The purpose of introducing this Bond is to create the propensity of savings among youth;the 62 percent of the total population" .