How to Purchase Premium Prize Bonds Rs25000 and Rs40,000

How to Purchase Premium Prize Bonds?

Premium Prize Bonds are registered Prize Bonds issued on the investor’s CNIC numbers and are linked with investors’ bank accounts.

The Prize money and profit offered against Premium prize Bonds are credited directly to the linked account of the investors and the prize money need not to be claimed like in the case of bearer prize bonds.

There are only two Premium Prize Bonds available to be purchased i.e Rs.25000 and Rs.40,000 from State Bank 16 field offices and from the designated branches of six commercial banks.

These six commercial banks are National Bank of Pakistan(NBP), Habib Bank Ltd(HBL), United Bank Ltd(UBL), Muslim Commercial Bank(MCB), Allied Bank Ltd(ABL) and Bank Alfalah(BALF).

The list of designated branches of the above-given banks to sell Premium Prize Bonds of denomination Rs.25000 and Rs.40,000 can be found at this Link

Documents Required to Purchase Premium Prize Bonds

As Premium or Registered Prize Bonds are registered on investors name hence CNIC copy is mandatory.

A bank Account maintenance certificate is also required to purchase Premium Prize bonds as such information is required to link investors Premium Prize Bonds to their bank accounts so that Profit and Prize money gets credited directly into investors’ bank accounts without claiming them.

Account maintenance certificate must include information like IBAN, Account title, account status and bank branch name and code.

NTN certificate in case of the filer. This certificate must be provided if the investor is a filer so that tax on prize money can be deducted as per active taxpayer status.

Tax on Prize money for filer is 15% of the prize money whereas on non-filer i30%.

Download Application form to Purchase Premium Prize Bonds

The application form can be downloaded on this link to purchase Premium prize bonds of denominations Rs25000 and Rs40,000.

How to Purchase Premium Prize bonds

Premium or Registered Prize Bonds can be purchased either in cash or through cheques.

If the bond is purchased in cash them it will immediately be issued subject to the provision of the documents but if the investors want to purchase through the cheque then the first amount of cheque will be collected if its not the same branch then the premium prize bond will be issued.

For example, if your bank account is held with Bank Al Habib Chandani Chowk branch and you want to purchase the premium prize bonds from Habib Bank 6th road branch then first your cheque amount will be collected through NIFT collection that may take a single business day and when the amount is collected you may get your premium Prize bonds issued on your name.

Premium Prize Bonds can be purchased singly as well as jointly.

If purchased jointly then there must be two types of operating instructions Joint A and Joint B.

Joint A

In Joint A operating instructions, the proceedings from Premium prize bonds are payable jointly by all or either of them with written consent from the other partner.

Joint B

In Joint B operating instructions, the proceedings of the Premium Prize Bonds are payable to either or survivors of the investors.

Nominee Information

Nominee information is required to purchase the Premium prize bonds by the issuer banks to contact the given person in case of investors death.

The nominee is not the one who will be paid the proceeds of the Premium Prize Bonds rather it will be the person who will be contacted by the bank in case of investors’ death.

In case of investors’ death, the Premium prize Bonds proceedings will be paid to the legal heirs as per NADRA record. The share of each legal heir will be given to each.

The investors can get SMS notifications on their mobile numbers of Prize money and profit credited into their bank accounts.

 

Last Date for Bearer prize Bonds Extended Rs7500,15000,25000,40,000

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