The Federal Government has announced a new opportunity for the public to redeem their withdrawn prize bonds of Rs. 7,500, 15,000, 25,000, and 40,000. Individuals now have until June 30, 2023, to cash in on these bonds. Initially, the government had set a deadline of June 30, 2022, for redemption, but due to some bondholders facing difficulties, this final opportunity has been granted.
If you hold any of the aforementioned prize bonds, you have several options for encashment or exchange. You can choose to:
a. Encash the bonds at face value.
b. Convert them into Premium Prize Bonds of Rs. 25,000 and/or Rs. 40,000 (Registered).
c. Replace them with Special Savings Certificates (SSC) or Defense Savings Certificates (DSC).
To redeem your prize bonds, you can visit the SBP Banking Services Corporation office or any branch of a commercial bank across the country before June 30, 2023. The State Bank of Pakistan (SBP) has instructed commercial banks to accept requests from the general public for encashment or exchange until the extended deadline.
We strongly encourage all bondholders to take advantage of this final opportunity and redeem their holdings before June 30, 2023. After the extended deadline, these prize bonds will become worthless and cannot be encashed or exchanged.
