Government to Launch Digital Prize Bonds via Mobile App
The government is set to introduce digital prize bonds, offering a modern and secure investment option. These bonds will be managed through a mobile application, making the process easy and paperless.
Digital Bonds Linked to Bank and CDNS Accounts
At the time of purchase, the bonds will be directly credited to linked bank accounts or CDNS accounts. This eliminates the need for physical bonds, reducing the risks of theft, loss, or damage.
Prize Money and Taxation Details
The prize money from these bonds will be taxed but will not be subject to Zakat deductions. The move aims to improve economic transparency and accountability while ensuring a well-documented investment process.
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Lower Costs and Reduced Fraud Risks
Switching to digital bonds will significantly cut printing and logistical costs. Since these bonds will be registered under the buyer’s name, it will reduce the chances of fraud and unauthorized claims. The digital system will also make buying, selling, and redeeming bonds faster and more convenient.
Available Denominations and Purchase Options
In the first phase, the government will issue digital prize bonds in Rs. 500, Rs. 1,000, Rs. 5,000, and Rs. 10,000 denominations. More denominations may be introduced later if needed.
Pakistani citizens aged 18 and above can buy these bonds using the National Savings mobile app or other authorized CDNS platforms. Payments will be made through linked bank accounts or savings accounts.
Prize Money Transfers and Draw Schedule
Prize money will be directly transferred to the investor’s linked account. Draws will be held every quarter, and the schedule will be announced at the start of each calendar year.
Beneficiary Nomination and Inheritance Process
Investors can nominate beneficiaries while purchasing bonds. They can also update or cancel nominations if needed.
In case of the investor’s death, the bond’s original value and any prize money will be given to the legal heirs after providing a succession certificate. For amounts up to Rs. 500,000, payments will go directly to the nominated beneficiary.
