The State Bank of Pakistan (SBP) has extended the deadline for the encashment, conversion, and redemption of various prize bonds till 31 December 2021.
The new deadline is applicable on prize bonds of Rs. 40,000, Rs. 25,000, and Rs. 15,000. The previous encashment deadline for these prize bonds was 30 September 2021.
In this regard, the SBP has also directed the authorized commercial banks to accept the requests of citizens who want to encash, redeem, and covert these prize bonds till 31 December 2021.
The authorized commercial banks will be required to submit the details of the encashment, redemption, and conversion of these prize bonds to the SBP on 31 December 2021 or the next working day which will be 4 January 2022.
Citizens can also convert their prize bonds to premium bonds at 16 field offices of the SBP Banking Services Corporation or at the branches of the 6 commercial banks authorized by the SBP.
The premium prize bonds were launched by the SBP in April 2017. They are issued only to computerized national identity cards (CNIC) holders and the bank accounts of bondholders.
