ISLAMABAD – Digital Prize Bonds are something new for Pakistanis who used to rely on decades old system for balloting and sale, purchase. Authorities chalked new regulations for digital prize bonds to enhance transparency and accountability.
The new Digital Prize Bonds will be available for purchase through App, with purchases credited directly to linked bank or CDNS accounts. This digital shift aims to improve efficiency, reduce reliance on physical bonds, and increase security.
Digtial Prize Bonds in Pakistan
Following are steps to buy Digital Prize Bonds via Mobile App.
App Installation and Creating Account
After getting the dedicated app, you will need to create an account, entering your personal details. You may also need to verify your identity via a One-Time Password (OTP) or another form of verification.
Link Your Bank Account:
For purchase, you will need to link a bank account with Digital Prize Bond app, so that funds can be transferred easily when purchasing digital prize bonds.
Desired Bond Denomination
After linking bank details, you need to to pick denomination of prize bonds you want to purchase.
Make the Purchase
Once you select denomination, go to purchase the digital bonds. You can do this by transferring funds from your linked bank account directly through the app.
NSD said there are no limitations to number of bonds you can purchase, so you can invest as much as you wish. After completing the transaction, the purchased bonds will be issued to your account within the app.
Check for Prize Bond Draws
Digital prize bonds will be eligible for periodic prize draws, providing notifications when draws take place and allow you to check if you are among top winners.
Prize Money Transfer
If you got lucky, the prize money will be credited to your linked bank account after the deduction of applicable taxes (15% for filers and 30% for non-filers).
Digital Prize Bonds Rules
