Thursday, August 5

Prize Bond and Payment of Prize Money

Prize BondWhat is the maximum period for claiming the prize money?

Prize Bond and Payment of Prize Money! The prize on any prize winning Prize Bond can be claimed within six years reckoned from the date of that particular draw result. No claim, after the said period of six years is entertained here as under i am sharing with you the detailed prize table of all denominations.

Read More: How To Check Prize Bond Original or Fake

Prize Bonds are bearer type of security available in the denominations of Rs.100, Rs.200, Rs.750, Rs.1,500, Rs.7,500, Rs.15,000, Rs.25000 and Rs.40,000. These bonds are issued in series. Each series consist of one less than 1,000,000 bonds. No fixed return is paid but prize draws are held on quarterly basis. The draws are held under common draw method and the number of prizes are same for each series. It means that if 50 series of Rs.200 Prize Bond are in circulation. Then on each draw we have 1 winners of 1st prize 3 winners for 2nd prize and 1696 winners of 3rd Prize and so on. The number and amount of prizes on various denomination of prize bonds for each series is shown in the following table*:

Prize Bond Prize Amount

Is there any deduction on encashment of prize bonds?

The prize bonds can be redeemed on the face value and there is no deduction whatsoever on the encashment of a prize bond itself irrespective of the amount involved.

 What is the procedure to claim a prize on a Prize Bond?

The prize money upto Rs.1,250/- can be claimed from any National Savings Centre, branches of authorized scheduled banks or branches of State Bank of Pakistan. Prize money exceeding Rs.1250/- can be claimed only from the branches of State Bank of Pakistan.

To claim the prize money, a duly filled application form (PB-1) along with a photocopy of the CNIC, a photocopy of the winning prize bond duly signed on the back is to be presented in the concerned office. However, the prize money is subject to 15% withholding tax for Filers and 20% for Non-Filers.

Here is List Of (2016-2017) 100,200,750,1500,7500,15000,25000,40000 Prize Bond Draws

 


15000                  03-01-2017                     List Can Download Here

200                       15-12-2016                     List Can Download Here

40000                  01-12-2016                     List Can Download Here

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