Karachi: The central directorate of national savings government Pakistan has organized a lucky draw for 750 rupees prize bonds on 15th April. 2014. This lucky draw will be organized as the lucky draw event of the year and the 58th lucky draw event in total. The first prize of the lucky draw will be worth 15 lac rupees, while the second prize will be worth 5 lac rupees for three recipients. The third prize will be worth Rs 9300 which will be given to 1696 recipients. A special ceremony will be held at the state bank of Pakistan Karachi.
Prize bonds are a sort of investments that bears upon it security worth Rs 200, Rs 750, Rs 1,500, Rs 7,500, Rs 15,000, Rs 25,000 and Rs 40,000. These bonds are issued in a series with each series containing one less than 1,000,000 binds. The prize draws are held quarterly and with no fixed returns payable. The number of prizes is same for each series, which implies that if 50 series of Rs 200 prize Bonds are in circulation, then there are 50 winners of 1st prize and 150 winners for the second prize in the lucky draw.
Prize bonds are an investment opportunity for the poor and the middle income class. If fortune favours the prize bond holder then he will become the owner of a big amount. Prize bond schemes were originally a much sought after opportunity, but due to neglect it has suffered. In case of increased profit rates on various other schemes, the prize bonds remain as the only hope.