Business Desk
Feb 21, 2024
An undated image of prize bonds. — Online
In Pakistan, prize bonds are available in six different denominations Rs 100, Rs 200, Rs 750, Rs 1,500, Rs 25,000, and Rs 40,000.
It should be noted that the draw for the prize bonds is held every three months and the results are released by National Savings.
Prize bond owners are always concerned about the details regarding how to claim prize money. Gadinsider walks you down the entire process through which you can claim your money if you are one of the lucky winners.
How to claim prize bond money?
Once you have checked the list and are sure that your bond number is matching then you need to fill in the claim form and submit it along with a copy of your CNIC to the State Bank of Pakistan.
It is important to note that the claim for the prize money be filled usually after three or four working days from the date of draw and the maximum period to avail the prize is six years from the date of draw.
Read more: Prize Bond Schedule 2024 – Prize Bond Draw List, Date & Venue
Another important question is how many days are required for the settlement of the prize money claim. Here’s list of the days as per the amount.
- Up to Rs 18,500/- same day
- Up to Rs 185,000/- 10 working days
- Above Rs 500,000/- 20 working days
How much tax is charged on your prize bond money?
- You have to pay 25% of your prize money in case you are a non-filer.
- In case you are a filer, only 15% will be deducted at the time of payment of your prize money.
All prize money claims are paid at the SBP BSC (State Bank of Pakistan Banking Services Corporation Bank) counters.
Required documents for the prize bond money claim
The claim of prize money declared on a winning prize bond can be lodged at any field office on the prescribed claim form, which is available at the help desk free of charge.
A filled-out prize money claim form can be submitted along with the following:
- Photocopy of valid CNIC
- Winning prize bond (original) duly signed by the applicant
- Photocopy of the prize-winning bond signed by the applicant
