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Prize Bond of Rs. 1500

Prize bond is becoming one of the popular demands in the Pakistani community. It is a unique medium to invest money. Prize bond provides a medium to the lower-level income persons to earn a handsome amount.

 The government of Pakistan issued the first prize bond of Rs. 10 in October 1960. It was supervised by the Central Directorate of National Savings (CDNS). Later on, the bond was launched by minister K. M. Sheikh, and he also purchased the first bond. The 1st prize bond was drawn in January 1961. Later on, prize bonds of 11, 50, 100, 200, 500, 1000, 15,000, and 25,000 were introduced.

The prize bond can be easily purchased from any National Saving Centre or the State Bank of Pakistan. Prize bonds can not be purchased online. Here, in this article, we will discuss in detail about the prize bond of Rs. 1500.

Advantages of Prize Bond:

• Although prize bonds have many advantages, here we will discuss only a few of them.
• The prize bonds are easily approachable. Anybody can apply for the prize bond.
• Prize Bonds do not have any special requirements. The process of applying for the prize bond is simple and is easily understood by the common man.
• Prize bonds have a wide range. They are not expensive. The cheapest prize bond starts at Rs 100. According to capacity, a person can purchase the prize bond. Low price is one of the reasons for the popularity of prize bonds.
• The amount of the prize bond is secure. If a person does not win, he can get back the money without any loss.
• Prize bonds are more reliable than any other investment medium. Whenever a person needs to withdraw the amount, he can withdraw it easily. There is not a lengthy process for money withdrawal.
• Prize bonds' results depend on the luck of a person. If a person wins, he gets much more money than the investment. The prize bond winning chance depends on the level of investment.
•  There is an opportunity to sell the bond. For some reason, if a person needs to sell a bond, he can sell that easily. A bond can be sold to an organization, a person, or a bank.

Above are the factors which make the prize bond the best medium for the investment.

Printing of Prize Bond:

Pakistan Security Printing Corporation prints the bonds after the approval of the Government of Pakistan. The printing is done in a secure way to avoid fraud.

Regulation of Prize Bonds:

The National Saving Centre regulates the prize bond scheme with the collaboration of the State Bank of Pakistan. They regulate the prize bond scheme under the Ministry of Finance and Government of Pakistan.

Prize Bond Lucky Draw:

The lucky draw for the prize bond of Rs. 1500 is drawn four times in a year. It is drawn at the start or middle of the month. The Lucky draw ceremony is carried on in the major cities of Pakistan. Months for the Lucky draw of the prize bond Rs.1500 are as follows:

• February
• May
• August
• November

Mostly the lucky draw is carried out on the 15 of the above months.

Prize Bond Checking Process:

A person can check the prize bond through the web or the Android application. For the web, checking takes the following steps.

Open the website of the National Saving Centre. Write the amount of the prize bond, add the prize bond range. After the bond range, enter the prize bond withdrawal number and search. The results for your required prize bond will be delivered on the screen if you have won it or not.

Prizes for the Prize Bond of Rs. 1500

Prizes for the prize bond of Rs. 1500 are as follows:

• 1st prize with one winner has the amount of Rs. 3,000,000.
• 2nd prize with the three winners has the amount of Rs. 1,000,000.
• 3rd prize with the 1696 winners has the amount of Rs. 18,500.

Prize Bond Money Claiming:

The prize bond money of Rupees more than 1250 can be claimed from the National Saving Centre. The amount up to 1250 only can be claimed from the State Bank of Pakistan. To claim the prize bond following are the requirements:

• Original CNIC card of the applicant.
• Prize bond original.
• Photocopy of the prize bond with the applicant's signature on the backside.

Prize bonds are safe. They are the best medium for investment because they give six years for claiming the amount. Due to a large number of advantages, people invest in them. There are huge chances of winning the prize bond. The main advantage of bonds is that it pays fixed amounts. Also, it has a money-back guarantee.