The Finance Ministry has accorded approval to the customised Registered Prize Bonds scheme of the National Savings of Pakistan to generate more funds and ensure further security.
The scheme will offer its customers cash prizes by normal draw, in addition to profit on a quarterly basis, Radio Pakistan reported.
Providing further details of the plan, an official of the National Savings said that these bonds would be registered in the name of the purchasers and no one else would be able to claim them. This, he said, would further enhance the security of bonds in case of theft or lost.
The policies for other saving schemes like Pensioner’s Benefit Account and Bahbood Savings Certificates have also been revised and now these are fixed at 10.56% to facilitate customers, the official said.
The purchasers’ details (name and contact information) will be recorded and kept on a special file with the National Savings, allowing the organisation to pay the bond’s coupon payment to the appropriate person, said the official.