Lottery bond

The Losanleihe (also lottery bond premium or bond) is usually lower than normal rate of interest loan, which is not due until the draw and in order to compensate for the lost interest also previously a single premium is paid.

Until the draw, the nominal capital on interest rates, and in some cases there can be independently two separate raffles - one for premium payments and a second for the actual repayment.

Due to the uncertainty of when they are due, the value of lottery bonds may see substantial fluctuations, and so they are more likely to find rare today, instead, for example, replaced by loans without repayment obligation.