The Finance Division has directed the Central Directorate of National Savings (CDNS) to introduce digital prize bonds as a replacement for discontinued bearer bonds. This move aims to promote financial documentation, enhance transparency, and simplify transactions for investors.
Unlike traditional paper-based bonds, digital prize bonds will be registered under the buyer’s name, reducing the risk of loss, theft, or forgery. Additionally, this paperless system will help cut down costs associated with printing and logistics, making the process more efficient.
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According to official documents, the Finance Ministry has proposed launching Rs. 500, Rs. 1,000, Rs. 5,000, and Rs. 10,000 digital bonds initially. The Finance Division will notify additional denominations over time.
Investors can purchase these bonds through the National Savings Mobile App or other approved digital platforms, with payments made via linked bank accounts or CDNS savings accounts.
Prize draws will be conducted quarterly, and winners will receive their prize money directly into their linked accounts. The Finance Division will determine the prize amounts for each denomination, and while prizes will be taxable, they will be exempt from Zakat deductions.
Buyers will have the option to nominate beneficiaries at the time of purchase. In case of the bondholder’s passing, the principal amount and prize money will be transferred to legal heirs based on a succession certificate.
If the total amount does not exceed Rs. 500,000, the nominee will receive the payment as per the original nomination.
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