Introduction:
Recently a new type of prize bond has been introduced by National Savings which is called digital prize bond, these prize bonds also work like other prize bonds as the list of other prize bonds is published every 3 months. Similarly, the draw list of these prize bonds will be published every 3 months. They will also have 1st, 2nd and 3rd prizes. These prize bonds will also have issue date, prefix and number and similarly you have to look up the bond number from the list as you look for the number in the normal prize bond list. However, the clear difference between them and the rest of the prize bonds is given below.
Differences:
1. Paperless Prize Bond i.e. Digital Prize Bond has no physical receipt, paper, card or form. There will be an issue in the form of a serial number in the computer (mobile) itself, from that you will buy this serial number and bring it to your mobile. There will be a store inside the mobile and you can sell it back to the bank and get the money in your account from the mobile. That is, the image of the bond will be visible on your mobile screen. There will be a Buy button at the bottom. You will press the Buy button, the money will be deducted from your account and the prize bond will be credited to your account. In the same way, go to the list of your purchased prize bonds, there will be a Sell button, click on it, then the prize bonds will be removed from your account.It will be deleted and the money will be credited to your account.
All developed countries are now getting rid of paper and going digital because it has thousands of benefits, the biggest of which is savings in labor costs and branch running costs. When the prize bonds can be bought and sold at home and the prize money is deposited in the account, there will be no need to go to the branch. Another advantage is that bonds cannot be forged. The bond cannot be tampered with. Prize Bonds can't be stolen, prizes won't be lost and best of all, your bonds can no longer be eaten by rats.
2. Each prize bond in normal bond consists of 6 digits while digital prize bond consists of 9 digits. I don't understand the reason, is NSC thinking that people will buy digital prize bonds so much that the 6-digit number will be filled? 1696 3rd prize numbers appear in the draw list of normal prize bond whereas in case of digital the function is same i.e. 1750 prizes. Each number in normal is 6 digits and in digital each number is 9 digits, then the probability of winning will be very less.
For simplicity, think of it as if there was a prize behind one of the 6 doors, now there will be a prize behind one of the 9 doors. Well, now NSC has not notified the draw list of digital prize bond, so we cannot say anything. Do you know under which logic to draw? Do you know if the prize bond is digital then its draw should also be digital and when the draw is digital then maybe the computer will select only those numbers that people have bought. It makes sense because the normal prize bond draw is mechanical, the machine does not know anything, but here the computer will know which number has been sold and which has not.
Also, is it possible to see only 6 digit numbers in the draw list and we have to match only 6 of our 9 digits? Well, the answers to all the questions will be known only after the first few rounds.
3. Shut Period NSC stops selling bonds a few days before the draw, which is called shut period. In normal price bonds, NSC stops selling bonds of this denomination 2 months before the draw. That is, in a normal bond, after its draw, you have only 30 days to buy that bond. In digital, this period is 30 days. That means you will have 60 days to buy the digital bond after the draw. This is a good step.
4. Normal bond has four categories (dominance) 100, 200, 750 and 1500 while in digital bond also 4 categories have been defined 500, 1000, 5000, 10,000 See the details of their first, second and third prize in the post of the group. can. When the bond is digital and registered in the name, there is no chance of black money, still the maximum bond is only 10 thousand? We think there should have been digital bonds of Rs 50,000 and up to Rs 100,000 with bigger rewards. When the bond is digital, there is no cost of printing and transport or security, then NSC should issue digital bonds of high value, which is a big reason to attract people towards this new bond. Currently, only digital bonds worth Rs 1000 will be issued.
5. Digital Prize Bond is the official app of NSC (National Savings Digital) and digital prize bonds can be purchased or redeemed only through this app. The biggest problem with this app is that you have to visit a major National Savings branch to create an account. Also have to show your original CNIC and source of income. Some people have been told to get a savings certificate to open an account (yeah it's a different world) and some have opened an account without a savings certificate from maybe Rs 500 (even 500 gets into the account). This will be the biggest obstacle to the success of digital prize bonds. Most NSC branches are open from 9 am to 3 pm so a job seeker cannot go to open an account. NSC should have learned from apps like easy money, SadaPay, people who have created an account on SadaPay will know that Sada
FAQ's:
1.When will it start?
Launched from 14 August 2023.
2. Where to buy?
Digital Prize Bonds can be purchased from National Savings Digital Official National Savings App on Google Play Store or Apple Store. Now the app is not updated, now there is no option like data prize bond on this app, then the app will be updated only then you will see that option. Some people have received the update and are seeing the digital prize bond option.
3. Can't create an account on the app?
Visit the nearest branch of National Savings.
4. Will the account opened at National Savings for Digital Prize Bond be Current or Savings?
There will be a savings account but you don't get interest in it, transfer money to this account and buy digital prize bonds. When the savings account does not have the minimum amount, interest will not accrue.
5. Can digital prize bonds be saved and checked in Pak Bond?
Yes PakBond will soon provide digital prize bond saving and checking facility, we are working on it. Like the rest of the bonds, digital results can also be searched on SMS and Call and can use luck checker.
6. Can digital prize bonds be bought or sold from the PakBond app?
no. Digital Prize Bonds cannot be bought or sold in the PakBond app. However, PakBond will launch its own digital prize bonds that can be bought and sold through the PakBond app.
7. Is there a separate price to be paid for holding a digital prize bond in Pak Bond?
no.
8. Is there interest on Digital Prize Bond?
No, as per the information so far Digital Prize Bonds do not have any interest like Premium Prize Bonds. His account is definitely a savings account, but it is not compulsory to take interest on it.
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