KARACHI – The Central Directorate of National Savings (CDNS) is all set to hold the draws for the Rs 1,500 and Rs 100 National Prize Bonds tomorrow, May 15.
The National Savings Centre in Sialkot will conduct the draw of Rs1,500 prize bond while Karachi office will hold the draw of Rs100 prize bond.
1500 Prize Bond Winning Amount
The winner of the first prize will secure a whooping amount of Rs3 million. There are three prize for second winners with each lucky person taking home Rs1 million.
More than 1,600 third prize winners will receive Rs18,500 each.
100 Prize Bond Winning Amount
The first prize winner of Rs100 prize bond will get Rs700,000 while the three second prize winners will receive Rs200,000 each. The third prize winners will grab Rs 1,000 each.
Winners can claim their prizes at designated bank branches or the National Savings offices.
Tax on Winning Amount
Tax filers will now be subject to a 15% tax on their prize winning amount, while non-filers will pay a 30% tax rate.
Prize bonds in Pakistan are a form of investment and savings issued by the government through the Central Directorate of National Savings.
They offer a unique opportunity for individuals to win cash prizes through regular draws held every three months.
Prize bonds are available in various denominations, such as Rs. 100, 200, 750, 1,500, and more. Unlike traditional interest-bearing savings, prize bonds do not earn regular interest. Instead, holders enter lucky draws for a chance to win prizes.
They are considered a secure and accessible way to invest, and can be bought or sold without any complex procedures.
