Prize bonds – A Lottery bonds are a type of government bond in which some randomly selected bonds within the issue are redeemed at a higher value than the face value of the bond. According to the Prize Bond Schedule, the Prize Bonds held multiple cities of Pakistan
If you’re lucky winners of the prize money and want to claim it then you have to follow the guidelines mention below.
How to claim prize bond money in Pakistan
You can claim prize bond money from state bank of Pakistan, follow the process:
Required documents for the prize money claim
Go to any near SBP-BSC field office.
- Get the claim form from the help desk. The claim form is free of cost.
- Fill the claim form carefully and provide all the required information.
- Give the duly signed claim form along with photocopy of valid CNIC, winning prize bond (original) duly signed by the applicant, and a photocopy of the prize-winning bond signed by the applicant to the person at the counter.
- Photocopy of valid CNIC
- Winning prize bond (original) duly signed by the applicant
- Photo copy of the prize winning bond signed by the applicant
Also check: Prize bond Schedule 2021
The number of days required for the claim settlement of prize money is appended below.
- Up to Rs.18,500/- same day
- Up to Rs.500,000/- 20 working days
- Above Rs.500,000/- 30 working days
Moreover, If the prize money is more than Rs. 18,500 then the applicant will receive a receipt from the bank which specifies a date for collecting payment order. On the due date, you have to go the SBP field office again and provide the claim receipt at the counter. After that, the payment will be deposited into your commercial bank account.
Maximum time period to avail the prize is six years from the date of draw.
Note: The prize money up to Rs. 1,250/- can be claimed from any National Savings Centre, branches of authorized scheduled banks or branches of the State Bank of Pakistan. Prize money exceeding Rs. 1,250/- can be claimed only from the branches of the State Bank of Pakistan.
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Prize bond faqs:
Are there any charges of prize money claim form?
Up to what period prize money can be claimed?
Answer: Prize money can be claimed within six years from the date of the relevant draw.
Whether one can attend draw ceremony?
Answer: Yes, general public may also attend the prize bond draw ceremony on production of original
Also check: How to Buy Prize Bond in Pakistan
Can prize bond be encashed any time after their purchase?
From where I can get the draw schedule?
You can check Prize bond draw schedule here on Financeupdates.net
What is the schedule of draw?
Answer: The Schedule of draw contains Draw No, Place & date of draw
Is there any limit on purchase of Prize Bonds?
Further, complete details on the Official website. Click here.