Award Winners – Jayen Jaya Wasana, First Prize Draw
Jayen Jaya Wasana is the latest savings product of Sarvodya which offers a host of prices to the participants. Launched in January 2009 it is open to members of all Savodaya Shramadana Societies.
The objective of Jayen Jaya Wasana Savaings Cetfificate is to increase and strengthen the SEEDS savings base by Rs.500 million. The funds generated will be used to provide type A and B loans to Sarvodaya societies. The aim is to improve the credit and savings activities of Sarvodaya Shramadana Societies (SSS).
Methodology
The method is to sell 1,000,000 savings certificates each valued at Rs.500 each with a five year maturity among SSS members within a period of one year (from January 01 2009 to 31 Decemeber 2009). The pan is to sell 500,000 savings certificates in the first six months and achieve the target at the end of the year.
Interest at 3% per annum for a period of 5 years will be paid for the investment made in this savings certificates.
All savings certificate holders are entitled an interest of 9% per annum on the face value of the certificates for any amount continued with SEEDS after the Grand Draw on 31/12/2013 .
Authorised persons can withdraw Rs.500/- of the face value of the certificate after a period of 5 years. At that time interest ( 500 X 3% X 5) of Rs.75/- will be paid.
The highlight of Jayen Jaya Wasana is the amazing string of prizes offered to savings certificate holders in a series of prize draws. For the five years the savings certificates are valid, there are twenty two prize draws. There are five monthly draws (first five months only), 12 quarterly draws, 4 annual draws and the final draw.
Prizes |
|
|
|
|
|
|
Item |
|
Market Price |
Value Increase |
Number of Prizes |
Total Amount |
Average Price |
Threewheeler |
|
335,000 |
15% |
35 |
14,141,654 |
404,047 |
Sewing Machines - Singer |
25,000 |
10% |
450 |
13,322,063 |
29,605 |
Cash Prices @ Rs. 5000/ |
5,000 |
0% |
2,550 |
12,750,000 |
5,000 |
Motor Bikes |
|
130,000 |
10% |
34 |
5,119,980 |
150,588 |
Maruti Car |
|
1,300,000 |
10% |
4 |
6,033,300 |
1,508,325 |
Motor Car |
Cost at the 5th Year |
2,500,000 |
0 |
1 |
2,500,000 |
2,500,000 |
Lorry |
Cost at the 5th Year |
1,500,000 |
0 |
1 |
1,500,000 |
1,500,000 |
Two wheel Tractor |
Cost at the 5th Year |
450,000 |
0 |
1 |
450,000 |
450,000 |
|
Total |
|
|
3,076 |
55,816,997 |
18,146 |
As the table indicates the total cost of the prize draws during the 5 years would cost Rs.55,816,997. Net profit from the project would amount to Rs.34, 207,700.
List of Prizes
Prizes |
|
|
|
|
|
Quantity |
Cost at the first Year |
|
Total |
|
One draw |
Rs. |
Total |
Rs. |
Monthly |
|
|
|
|
Threewheeler |
3 |
335,000 |
15 |
5,025,000 |
Sewing Machines - Singer |
30 |
25,000 |
150 |
3,750,000 |
Cash Prices @ Rs. 5000/ |
150 |
5,000 |
750 |
3,750,000 |
|
|
|
|
|
Quarterly |
|
|
|
|
Threewheeler |
1 |
335,000 |
12 |
5,512,686 |
Sewing Machines - Singer |
25 |
25,000 |
300 |
9,572,063 |
Cash Prices @ Rs. 5000/ |
150 |
5,000 |
1,800 |
9,000,000 |
|
|
|
|
|
Yearly |
|
|
|
|
Maruti Car |
1 |
1,300,000 |
4 |
6,033,300 |
Threewheeler |
2 |
335,000 |
8 |
3,195,760 |
Motor Bikes |
6 |
130,000 |
24 |
3,619,980 |
|
|
|
|
|
Annual Grand Prize |
|
Cost at the 5th Year |
|
|
Motor Car or value |
1 |
2,500,000 |
1 |
2,500,000 |
Lorry or value |
1 |
1,500,000 |
1 |
1,500,000 |
Two wheel Tractor |
1 |
450,000 |
1 |
450,000 |
Motor Bikes |
10 |
150,000 |
10 |
1,500,000 |
|
|
|
|
|
Total |
|
|
22 |
55,816,997 |
|
