To buy the digital prize bond, you will need to create an account on the National Savings Mobile App.
Here’s How to Buy Digital Prize Bonds in Pakistan: Details Inside. The Finance Division has directed the Central Directorate of National Savings (CDNS) to launch digital prize bonds, aiming to promote a paperless system and reduce printing and logistics costs.
The new Digital Prize Bonds will be available for purchase through the National Savings Mobile App or other CDNS authorized outlets, with purchases credited directly to the linked bank or CDNS accounts.
This digital shift aims to improve efficiency, reduce reliance on physical bonds, and increase security.
The digital prize bonds will be registered in the buyer’s name, decreasing the risks of theft, damage, or loss. Initial offerings will comprise Rs10,000, Rs5,000, Rs1,000, and Rs500 amounts.
Winning amount will be added to the same linked bank account or savings account used for buying, so the redemption process will be also digital.
How to buy Digital Prize Bonds
To buy the digital prize bond, you will need to create an account on the National Savings Mobile App.
After this, you will need to link a bank account with the app so that funds can be transferred easily when purchasing digital prize bonds.
Following this, you need to choose the denomination of prize bonds before purchasing the digital bonds. You can do this by transferring funds from your linked bank account directly through the app.
The National Savings Department has not made limitations on the number of bonds you can purchase.
After completing the transaction, the purchased bonds will be issued to your account within the app.
Digital Prize Bond Draws
As per details, draws would happen quarterly or according to the Finance Division schedule.
Digital prize bonds will be eligible for periodic prize draws, providing notifications when draws take place and allowing you to check if you are among the top winners.
Additionally, in case the buyer dies, he can nominate someone at the time of purchase, with the possibility to afterwards change or cancel the appointment.
After the buyer’s death, the principal amount and any prize money will be payable to their legal heirs or nominees, depending on the total amount.
