New Digital Prize Bonds Draw in Pakistan: Purchase, Track, and Redeem Online

The Finance Division has instructed the Central Directorate of National Savings (CDNS) to launch digital prize bonds, shifting towards a paperless financial system. This move is designed to enhance investor convenience while cutting down on printing and logistical expenses.

Denominations of Digital Prize Bonds

In the initial phase, digital prize bonds will be available in four denominations:

• Rs500
• Rs1,000
• Rs5,000
• Rs10,000

Investors can purchase these bonds via the National Savings Mobile App or from authorized CDNS outlets. Payments can be made using a linked bank account or a CDNS savings account.

How to Redeem Digital Prize Bonds?

A key feature of digital prize bonds is the automatic redemption system. Any prize winnings will be directly transferred to the buyer’s linked bank account, ensuring a secure and hassle-free process.

Prize Bond Draw Schedule

Draws for digital prize bonds will be held quarterly or as per the schedule set by the Finance Division. Investors can conveniently check results online.

Nomination Facility

Buyers will have the option to nominate a beneficiary while purchasing digital prize bonds. This nomination can be updated or canceled later. In case of the investor’s demise, the principal amount and any winnings will be transferred to the designated nominee or legal heirs.

Key Benefits of Digital Prize Bonds

• Reduced Costs: Eliminates expenses related to printing, storage, and logistics.
• Enhanced Security: Digital records minimize risks of theft or loss.
• Convenience: Investors can buy, track, and redeem bonds digitally.
• Financial Transparency: Supports better documentation and reduces unregulated transactions.

The introduction of digital prize bonds is a significant step in modernizing Pakistan’s financial system. With increased security and accessibility, this initiative aligns with the global shift towards digital financial services.

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