PRIZE BONDS

Prize Bonds are bearer type of security available in the denominations of Rs.200, Rs.750, Rs.1,500, Rs.7,500, Rs.15,000 and Rs.40,000. These bonds are issued in series. Each series consist of one less than 1,000,000 bonds. No fixed return is paid but prize draws are held on quarterly basis. The draws are held under common draw method and the number of prizes are same for each series. It means that if 50 series of Rs.200 Prize Bond are in circulation. Then on each draw we have 50 winners of 1st prize and 250 winners of 2nd Prize and so on. The number and amount of prizes on various denomination of prize bonds for each series is shown in the following table*:

 

Denomination

(Rs)

First Prize 2nd Prize 3rd Prize
No. Amount

(Rs)

No. Amount

(Rs)

No. Amount

(Rs)

200/- 01 600,000 05  200,000 2,394  1,000
 750/- 01  1,200,000 03  400,000 1,696 7,500
1,500/- 01  2,400,000 03 800,000 1,696  15,000
7,500/- 01  12,000,000 03 4,000,000 1,696  75,000
15,000/- 01 24,000,000 03  8,000,000 1,696  150,000
40,000/- 01  60,000,000 03  20,000,000 1,696 400,000

*  For the prize bond draws held on or after 1st September, 2008.

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