pemium prize bond discontined Prize Bond - 200-prize-bond-drow-no80-16-12-2019 Premium Bond prize Understanding the Discontinuation of Premium Prize Bonds

peshawar-prize-bond-1500 The term "premium prize bond discontinued" signifies a significant shift in the landscape of savings and investment instruments, particularly in Pakistan and the UK. This article aims to provide a comprehensive overview of why these bonds are being phased out, what it means for bondholders, and the alternatives available, drawing upon official announcements and expert insights.

In Pakistan, the Government discontinues Rs7500 and Rs15000 bonds as part of a broader strategy to streamline its prize bond offerings. This move, announced in April 2021, also saw the cessation of sales for Rs25,000 bonds and later, the stop selling Rs40,000 prize bonds from June 24 onwards. The primary reason for discontinuing these higher-denomination bearer bonds is to curb the flow of illicit money and encourage a more transparent financial system, as these instruments were often used for untraceable transactionsWhat are the new NS&I interest rates? | Raisin UK. Holders of these discontinued bonds were provided with specific deadlines to encash or replace them. For instance, the Government has announced the discontinuation of Rs15,000 and Rs7,500 bonds, with a notification issued in April 2021 detailing this policy佛历2564年11月24日—Thousands of National Savings & Investments customers could have prizes retroactivelycancelledafter decades-oldPremium Bondswere .... The final deadline for encashment or conversion of these withdrawn prize bonds was extended multiple times, with the latest stipulated date for applications being December 31, 2024. This extension aimed to give bondholders sufficient time to convert their holdings into other forms of investment, such as Premium Prize Bonds or through the State Bank of Pakistan. While specific dates for the Rs15,000 and Rs7,500 bonds' encashment were set for December 31, 2021, the process for other denominations extended further.FAQ's

In the United Kingdom, National Savings & Investments (NS&I) has also seen changes impacting its Premium Bonds. While not entirely discontinued, NS&I has announced adjustments to its Premium Bonds prize rate. For example, there was a period where NS&I announced it would be reducing the Premium Bonds prizefund rate, leading to longer odds of winning. However, NS&I has also shown a commitment to savers, as seen when it cancelled a planned rate cut in April 2020 to support savers during the coronavirus pandemic. This highlights a nuanced approach to managing the product, balancing financial objectives with customer support.佛历2562年6月20日—40,000Premium Prize Bond(Registered) has already been launched w.e.f. March 10, 2017.RegisteredPrize Bondsoffer not only attractive prizes ... The Premium Bond prize rate has been subject to changes, with reports indicating a shift from a 4% to a 3.We createdPremium Bondsand you can only get them from us. Open an account and you could win big in our monthlyprizedraw.8% rate in April 2023, and again a reduction from 3.60% to 3.30% from April 2026, alongside lengthening odds. Despite these adjustments, the fundamental appeal of Premium Bonds remains, offering the chance to win prizes from £25 up to £1,000,000, with odds of winning a prize in a given month at 22,000 to 1 since December 2024佛历2563年12月10日—You can no longer buy new National Prize Bonds worth Rs25,000as per new government instructions. If you already have a Rs25,000 prize bond, you .... Furthermore, Premium Bonds are noted for being exempted from Zakat, a significant factor for many investors.

For those holding discontinued premium prize bond instruments, particularly in Pakistan, redemption options were crucial. 99The Last Date for Encashment of Withdrawn Prize Bonds ....5 percent of discontinued bearer prize bonds were successfully redeemed, showcasing a high rate of compliance with the government's directivesNS&I has announced it will be reducing thePremium Bonds prizefund rate while odds of winning will worsen.. The Minister of State for Finance, Bilal Azhar Kiyani, announced that the final deadline for encashment or replacement of withdrawn prize bonds of Rs40,000, Rs25,000, Rs15,000, and Rs7,500 had been set for December 2024.佛历2567年10月4日—The Government of Pakistan extended the last date for encashment, conversion or replacement of withdrawnprize bondsof Rs40,000, Rs25,000, Rs15,000 and Rs7, ... This implies that these specific prize bonds discontinued by the government are no longer in circulation for new purchases.

The concept of Premium Prize Bond itself can be a point of clarification. It's important to note that in Pakistan, the Premium Prize Bond is not a product of the State Bank of Pakistan but is initiated by the Central Directorate of National Savings.Rs25,000 prize bonds discontinued These bonds were available in denominations of RsGovt stops sale of National Prize Bonds of Rs25,000. 25,000 and Rs. 40,000, were registered in the investor's name, and offered both PrizeMoney as well as ProfitGuaranteed Income Bonds. The Rs25,000 prize bonds discontinued were, however, an option to replace or encash these bonds into Premium Prize Bonds. The Premium Prize Bond (Registered) Scheme itself represented a move towards more secure and registered instruments, contrasting with the older bearer bonds. The 40,000 Premium Prize Bond (Registered) was launched with effect from March 10, 2017, offering attractive prizes.佛历2568年6月24日—NS&I has announced a key change toPremium Bondswhich will affect all savers. From the August draw, theprizefund rate will fall from the ...

In summary, the term "premium prize bond discontinued" encompasses distinct situations: governmental policy changes phasing out older, bearer bond denominations in Pakistan to enhance financial transparency, and adjustments to prize rates and odds for NS&I's Premium Bonds in the UK. For those impacted, understanding the specific regulations, deadlines for encashment or conversion, and exploring available alternatives like Premium Prize bonds, other government savings schemes, or investment products is essential.佛历2562年6月26日—The State Bank of Pakistan (SBP) in a circular issued on Tuesday directed all commercial banks tostop selling Rs40,000 prize bonds from June 24 onwards. The trend indicates a move towards more regulated and transparent financial instruments, whether through registered bonds or adjusted savings products佛历2564年11月24日—Thousands of National Savings & Investments customers could have prizes retroactivelycancelledafter decades-oldPremium Bondswere .... The last date for encashment of withdrawn prize bonds remains a critical piece of information for those still holding such assets.