If your Prize Bond number has won, first confirm the result against the official draw list, then keep the original winning bond safe. For bearer National Prize Bonds, prepare your valid CNIC, the prescribed prize-money claim form, a signed copy of the winning bond and the required bank-account details. The correct claim location depends mainly on the prize amount. Withholding tax is deducted from the prize before payment, and the claim must be submitted within the official time limit.
One important distinction: Rs.25,000 and Rs.40,000 Premium Prize Bonds are registered instruments. Their prize money is normally credited directly to the registered investor’s bank account, so the ordinary bearer-bond claim procedure below does not apply.
Quick Answer
For ordinary bearer Prize Bonds of Rs.100, Rs.200, Rs.750 and Rs.1,500, the current SBP BSC guidance requires a prescribed claim form, valid CNIC copy, original winning bond and a signed photocopy of that bond. Bank name, account title and IBAN are also required for account-based payment.
SBP BSC’s published guidance currently allows claims of up to Rs.500,000 through designated commercial-bank branches, while claims above Rs.500,000 are handled by SBP BSC offices. Claims of up to Rs.1,250 may also be submitted at National Savings Centres.
Prize money is currently subject to 15% withholding tax for filers on the Active Taxpayers List (ATL) and 30% for non-filers, and the maximum claim period is six years from the relevant draw date.
What You Need
Before going to submit a claim, prepare:
- the original winning Prize Bond
- a photocopy of your valid CNIC
- the current prescribed prize-money claim form
- a photocopy of the winning bond, signed on the reverse side
- bank name
- account title
- 24-digit IBAN where required for payment
- any additional supporting document requested by the receiving SBP BSC office or designated bank
SBP’s current forms page lists PB-23 as the Prize Money Claim Application Form. Do not confuse it with older references to PB-1. SBP currently lists PB-1-A for payment of the face value of mutilated or defaced bonds, not as the standard prize-money claim form.
What to Do After Your Prize Bond Wins
1. Check the number again
Do not start the claim process from a screenshot, WhatsApp message or unofficial list alone.
You can first use the Saving.com.pk Power Search to check your number against the available result database. Then compare the number with the corresponding official National Savings or SBP BSC draw result before submitting a financial claim.
Pay particular attention to leading zeros. A number such as 004381 is not the same as 4381.
2. Keep the original bond secure
For bearer National Prize Bonds, possession of the physical bond matters. National Savings describes these bonds as bearer instruments, meaning the holder of the instrument is treated as its owner.
Do not write unnecessary information on the bond, laminate it, tear it or attempt to repair damage yourself.
When preparing the claim, follow the official instructions for signing the reverse side.
3. Download or obtain the current claim form
SBP BSC’s current National Prize Bonds forms section identifies the standard prize-money claim document as PB-23, Prize Money Claim Application Form.
Using the current form matters. An old PDF saved on another website may no longer reflect the fields or payment requirements currently used.
The prescribed form itself is free.
4. Prepare the CNIC and bank details
SBP’s published National Prize Bonds FAQ lists the following with the claim:
- copy of valid CNIC
- original winning bond signed on the reverse
- photocopy of the winning bond signed on the reverse
- bank name
- account title
- IBAN
The same FAQ currently specifies a 24-digit IBAN and lists incorrect account title, incorrect IBAN and missing signatures among common reasons for objections.
Check these details before submitting the form. A small mismatch can delay an otherwise valid claim.
5. Go to the correct claim location
The amount of the prize determines where the claim can be submitted.
Where Can Prize Bond Money Be Claimed?
SBP BSC’s published National Prize Bonds FAQ gives the following claim channels:
| Prize amount | Where you can submit the claim | Main documents | Payment/processing |
|---|---|---|---|
| Up to Rs.1,250 | SBP BSC office, designated commercial bank, or National Savings Centre | Claim form, CNIC copy, original bond, signed bond copy | Depending on channel |
| Above Rs.1,250 up to Rs.500,000 | SBP BSC office or designated commercial-bank branch | Claim form, CNIC, original/signed bond copy, account information | Commercial-bank route uses direct account credit |
| Above Rs.500,000 | SBP BSC office | Full claim documents and account details | Processed by SBP BSC |
There is an important official-source difference worth knowing. The National Savings FAQ still contains an older statement saying that amounts above Rs.1,250 are claimed only through SBP branches. SBP BSC later introduced a commercial-bank procedure allowing designated commercial-bank branches to receive claims up to Rs.500,000 from their account holders, and SBP reiterated this facility in a 2020 circular.
Because not every branch necessarily provides the service, confirm with your bank that the particular branch is designated for National Prize Bond claims before visiting.
How Long Does Prize Money Payment Take?
SBP BSC’s more recent published National Prize Bonds FAQ gives these settlement periods:
| Prize amount | SBP-published settlement period |
|---|---|
| Up to Rs.18,500 | Direct credit: T+1; cash: same day |
| Up to Rs.1,000,000 | 5 working days |
| Above Rs.1,000,000 | 15 working days |
These are official processing timelines, not a guarantee that every case will finish on the same date. A questionable, damaged or otherwise uncleared bond may require additional verification.
SBP explains that verification of the genuineness of a bond can be a reason for delay.
Documents Required for a Prize Bond Claim
For a normal bearer-bond prize claim, the core documents are:
- Prescribed PB-23 claim form
- Valid CNIC copy
- Original winning Prize Bond
- Photocopy of the winning bond
- Required signatures on the original, photocopy and claim form
- Bank name
- Account title
- IBAN
SBP’s FAQ specifically identifies missing signatures, invalid bonds, an incorrect photocopy, an incorrect account title and an incorrect IBAN among common objections.
That makes a simple pre-submission check worthwhile: compare the CNIC name, account title and IBAN carefully before handing over the original bond.
For more detail on the form itself, see the Saving.com.pk Prize Bond Claim Form page.
How Prize Bond Tax Is Deducted
Prize Bond tax is deducted at source when the prize money is paid.
National Savings currently states:
- Filer / person appearing in ATL: 15%
- Non-filer / person not appearing in ATL: 30%
FBR also explains that being on the Active Taxpayers List gives a person a lower withholding-tax rate on Prize Bond winnings.
Example: Rs.1,500,000 Prize
Suppose a person wins Rs.1,500,000.
If the winner is a filer:
Rs.1,500,000 × 15% = Rs.225,000 tax
Estimated amount after this withholding:
Rs.1,275,000
If the winner is a non-filer:
Rs.1,500,000 × 30% = Rs.450,000 tax
Estimated amount after this withholding:
Rs.1,050,000
These figures show the prize amount less the verified withholding rate only. For more calculations, see Saving.com.pk’s Prize Bond Tax information.
How Long You Have to Claim
The maximum period for claiming Prize Bond prize money is currently six years from the date of the relevant draw. Both National Savings and SBP BSC state this rule.
Do not treat six years as a reason to delay. A bond can be lost, damaged or forgotten.
Submit the claim once the official result is available and the claim can be processed.
There is a small difference in current official wording about how soon after the draw a claim can be lodged. SBP’s published 2021 FAQ says usually after two working days, while the current National Savings FAQ contains references to three or four working days.
The practical approach is to wait until the official draw result has been released and confirm readiness with the relevant claim office if you are travelling specifically to submit a large claim.
For deadline examples, see the Prize Bond Claim Period page.
What Happens to the Original Winning Bond?
A winning bearer Prize Bond submitted for prize money is not returned to the claimant.
SBP’s published FAQ says the bond is retained and its face value is credited to the claimant’s account along with the claim process.
This is why you should keep your own photocopy or record of the bond number and claim papers before submission.
Do not expect to receive the physical winning bond back as a souvenir.
What If the Winning Bond Is Damaged?
A damaged bond is not automatically disqualified.
National Savings and SBP BSC both state that a damaged bond can be considered subject to clearance under the applicable rules.
SBP’s forms page separately provides PB-1-A for payment of the face value of mutilated/defaced Prize Bonds.
For a damaged winning bond, take the instrument to SBP BSC for proper examination rather than assuming that the ordinary counter procedure will apply. Do not tape pieces together, alter the serial number area or attempt to improve its appearance.
The Prize Bonds Refund Rules also distinguish damaged or mutilated bonds from bonds that are lost, stolen or wholly destroyed.
Can Someone Else Submit the Claim?
Do not assume another person can automatically collect the prize on your behalf.
SBP BSC’s published FAQ states that payment through an authorized person depends on the discretion of the competent authority of the relevant SBP BSC field office.
If the winner cannot attend personally, contact the relevant SBP BSC office first and ask exactly what authorization and identification documents are required.
This is safer than preparing a general authority letter and assuming it will be accepted.
Premium Prize Bond Winners Do Not Follow the Same Process
The Rs.25,000 and Rs.40,000 Premium Prize Bonds (Registered) operate differently.
SBP and National Savings state that the investor does not submit an ordinary prize claim form for a winning Premium Prize Bond. Prize money is credited directly to the bank account registered with that bond.
Tax still applies according to the investor’s taxpayer status.
If you hold a Premium Prize Bond and your registered bank details have changed, contact the relevant authorized institution rather than trying to use PB-23 as though the bond were an ordinary bearer bond.
How to Verify the Result Before Claiming
Before surrendering an original winning bond:
- search the number using Saving.com.pk Power Search
- note the denomination and draw number
- compare the result with the relevant official National Savings or SBP BSC draw list
- confirm that the bond was eligible for that draw
- then prepare the claim documents
National Savings states that a bearer Prize Bond must have been issued at least 60 days before the relevant draw to qualify.
Saving.com.pk’s checker is intended to make historical result searching easier. For an actual financial claim, the corresponding government-published result and the decision of the authorized claim office remain the final reference.
Before You Leave for the Claim Office
A five-minute check can save another visit:
- confirm the bond number against the official result
- take the original bond
- take a valid CNIC and copy
- use the current PB-23 claim form
- sign wherever officially required
- check account title carefully
- verify the IBAN
- confirm that your commercial-bank branch is designated if using the bank route
- check your current ATL status if the tax rate matters to your expected payment
- keep copies of your submitted documents
Claiming Prize Bond winnings in Pakistan is mainly a matter of protecting the original winning bond, using the correct current form, choosing the authorized claim channel and providing accurate identity and bank details. For bearer bonds, the prize amount determines whether National Savings, a designated commercial bank or SBP BSC can receive the claim. Large prizes go through SBP BSC, while Premium Prize Bond winnings follow a separate direct-credit system.
Saving.com.pk is an independent information website and is not operated by National Savings, SBP BSC or the Government of Pakistan. Use the relevant official source for final confirmation of forms, claim acceptance and policy changes.
FAQs
Can I claim Prize Bond money from a commercial bank?
Yes, but the branch must be part of the designated commercial-bank arrangement. SBP BSC’s published guidance allows designated commercial banks to receive National Prize Bond claims of up to Rs.500,000 from eligible account holders. Claims above Rs.500,000 are handled at SBP BSC offices.
Can I claim Prize Bond winnings after five years?
Yes, provided you are still within the official six-year period from the relevant draw date. Waiting until the final months is risky because a lost or damaged bearer bond can make the claim much more difficult.
Is PB-1 the Prize Bond winning claim form?
The current SBP BSC forms page lists PB-23 as the Prize Money Claim Application Form. It separately lists PB-1-A for payment of the face value of mutilated or defaced National Prize Bonds. Always obtain the latest form from an official source.
Is Prize Bond tax deducted automatically?
Yes. National Savings currently states that withholding tax is deducted at source when prize money is paid: 15% for filers and 30% for non-filers.
Can I claim a damaged winning Prize Bond?
Potentially yes, but it is subject to clearance under the applicable rules. Take the damaged bond to SBP BSC for assessment rather than trying to repair it yourself.
Will I get my winning bond back after claiming the prize?
No. SBP BSC’s published FAQ states that the winning bond submitted with a prize claim is not returned; its face value is credited to the claimant’s account.
Do I need to submit a form for an Rs.25,000 or Rs.40,000 Premium Prize Bond win?
No ordinary prize claim form is required. Premium Prize Bonds are registered, and the prize is credited directly to the bank account registered with the investor.