Prize Bond Draw Schedule 2019
Listed below is the prize bond draw schedule 2019 as issued by Pakistan Savings. These draws are held by State Bank of Pakistan twice very month. There are eight types of prize bonds issued by the institute of Pakistan Savings, a savings institute established by the government of Pakistan. Pakistan savings issues prize bonds from the range of Rs. 100 to Rs. 40,000. Every prize bond draw is held quarterly i.e. four times every year. For example the prize bond worth Rs. 100 is scheduled for draw at least four times a year.
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The prize bond draw schedule carries definite dates of the draws, yet those draws are subject to working days only. It means if a draw date falls on a public holiday, that draw will be conducted on the very next working day. It is notable fact that Prize Bonds are backed by government of Pakistan. These are to meant to encourage savings. Hundreds of billions of rupees are invested in Prize Bond Schemes currently.
Pakistanis are eager to buy prize bonds. Sometimes, these bonds are even traded like currency notes. However, these can be encashed from any Pakistani Bank before a scheduled draw date. The only draw back is that prize money can be claimed only from SBP i.e. State Bank of Pakistan. For prized below or equivalent to Rs. 1250 may be encashed from any commercial bank in Pakistan.
The government of Pakistan has discontinued the sale and purchase of bearer prize bonds of Rs. 40,000/-. No further draws of this denomination will be held. All holders of this denomination are required to register their prize bonds with SBP via commercial banks or SBP BSC branches. Prize bonds may also be en-cashed by affording credit to your account. Prize Bond Draws of Registered Bonds of Rs. 40,000/- would continue.
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