What is the maximum period for claiming the 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.
Is there any deduction on the 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 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.1250/- can be claimed only from the branches of the 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 a 15% withholding tax.