SBP Extends Deadline Again Prize Bonds Encashment

The State Bank of Pakistan (SBP) has extended until 31 December 2021 the deadline for encashment, exchange, and redemption of different prize bonds.

The updated deadline applies to Rs. 40,000, Rs. 25,000, and Rs. 15,000 prize bonds. Previously, these prize bonds could be cashed until 30 September 2021.

Furthermore, the State Bank of Pakistan SBP has instructed that approved commercial banks accept requests from people wanting to cash, redeem, or exchange these prize bonds until December 31, 2021.

The approved commercial banks will be expected to report to the SBP information on the encashment, exchange, and redemption of these prize bonds by 31 December 2021 or the following working day, and that will be 4 January 2022.

Individuals could also exchange their prize bonds for premium bonds at the SBP Banking Services Corporation's 16 field offices or at the branches of the SBP's six approved commercial banks.

The SBP released the premium prize bonds in April 2017. They are only granted to holders of CNIC and bank accounts of Prize bondholders.

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