PRIZE BONDS
Prize Bonds are bearer type of security available in the denominations of Rs.100, Rs.200, Rs.750, Rs.1,500, Rs.7,500, Rs.15,000, Rs.25,000 and Rs.40,000. These bonds are issued in series. Each series consist of one less than 1,000,000 bonds. No fixed return is paid but prize draws are held on quarterly basis. The draws are held under common draw method and the number of prizes are same for each series. It means that if 50 series of Rs.200 Prize Bond are in circulation. Then on each draw we have 50 winners of 1st prize and 250 winners of 2nd Prize and so on. The number and amount of prizes on various denomination of prize bonds for each series is shown in the following table*:
Denomination
(Rs)
| First Prize | 2nd Prize | 3rd Prize |
|---|
| No. | Amount(Rs) | No. | Amount(Rs) | No. | Amount(Rs) |
|---|
| 100/- | 01 | 700,000 | 03 | 200,000 | 1,199 | 1,000 |
|---|
| 200/- | 01 | 750,000 | 05 | 250,000 | 2,394 | 1,250 |
|---|
| 750/- | 01 | 1,500,000 | 03 | 500,000 | 1,696 | 9,300 |
|---|
| 1,500/- | 01 | 3,000,000 | 03 | 1,000,000 | 1,696 | 18,500 |
|---|
| 7,500/- | 01 | 15,000,000 | 03 | 5,000,000 | 1,696 | 93,000 |
|---|
| 15,000/- | 01 | 30,000,000 | 03 | 10,000,000 | 1,696 | 185,000 |
|---|
| 25,000/- | 01 | 50,000,000 | 03 | 15,000,000 | 1,696 | 312,000 |
|---|
| 40,000/- | 01 | 75,000,000 | 03 | 25,000,000 | 1,696 | 500,000 |
|---|
* For the prize bond draws to be held on or after 15th February, 2009.
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