Should we invest in Prize Bonds? If yes, then why?
You must have read multiple articles about Prize bonds, their denominations, and their draws on the internet. Whenever you read them, several untold questions arise in your mind. You want to know the purpose of buying these prize bonds or why we must invest our money in purchasing prize bonds. Hopefully, this blog will provide genuine answers to your queries until no doubts are left. So please read it carefully.
Generally, we look for ways by which we can invest our money. In these situations, Prize Bonds seem to be helpful for those individuals. So, a prize bond is a way to invest our money on. People can invest their money at low-interest rates. In the future, if their prize bond gets shortlisted in any Draw list, they have a chance to win prizes from thousands to millions of rupees. Even if their luck proves bad, they might not lose the money as they have the chance to get back their money from the bank. Moreover you can buy prize bonds of denominations ranging Rs 100, 200, 750, 1,500, 7,500, 15,000, 40,000 & 40,000 premium. If you can’t afford to buy expensive bonds, you can buy the economic ones.
On the other hand, several financially unstable families remain searching for chances to improve their lives. Prize bonds can be the best chance for them. If they take the risk to buy the bond, & they get nominated for the prize. It will be a moment of life for those. Once they encash their money, they can use that money to raise the standard of their life in many ways.
Is it safe or beneficial to invest in a Prize bond?
Yes, for sure it is safe & there are very chances of any drawback. We have millions of examples getting profiting by buying prize bonds.
If you remain doubtful about them, you can sell them at the same cost. The only thing to recall here is you can sell the prize bonds having denominations under Rs 10,000. It means you can sell prize bonds holding denominations Rs 100, 200, 750, 1,500, and 7,500.
Can we demand our money in case our prize bond is lost or torn?
Absolutely No. it is a matter about which you have to be extra careful. Once you have purchased the bond, it’s your responsibility to keep it in a safe place; you can’t blame the organization for that.
Conclusion:
We have given our opinion on investing in a prize bond. Now it depends on your desire whether you want to buy it or not. Think carefully about it. You can take suggestions from the above info to conclude your plan. Go ahead.