SBP Reminds of The Last Date for Encashment of Prize Bonds

The State Bank of Pakistan (SBP) has reminded of the late date for the encashment of withdrawn prize bonds Rs. 7,500, Rs. 15,000, Rs. 25,000 and Rs. 40,000, which was extended by the Federal Government.

Earlier, the Government had fixed the deadline of June 30, 2022, for redemption / encashment of these prize bonds, however, considering that some prize bond holders could not get their bonds redeemed, a final date has been extended.

The Federal Government has now given until 30th June 2023 for the the redemption / encashment of withdrawn prize bonds.

The investors of aforesaid prize bonds have following options of encashment or exchange:

• Encashment at Face Value
• Conversion to Premium Prize Bonds of Rs. 25,000 and/or Rs. 40,000 (Registered)
• Replacement with Special Savings Certificates (SSC) or Defense Savings Certificates (DSC)

The prize bonds can be redeemed from SBP Banking Services Corporation office and branches of commercial banks across the country till 30th June 2023. The SBP has issued necessary instructions to commercial banks to accept requests from general public for encashment or exchange of the prize bonds till the extended date.

The general public holding these bonds is encouraged to avail this final opportunity and get their holdings redeemed before 30th June 2023. These prize bonds shall not be en-cashable or exchangeable after the expiry of the extended deadline, thereby rendering them worthless.

Follow INCPAK on Facebook / Twitter / Instagram for updates.