Extension of Last Date for Encashment of National Prize Bonds: Rs. 40,000, Rs. 25,000, Rs. 15,000, and Rs. 7,500 Now Valid Until 31st December 2024

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Encash National Prize Bonds 2024 before the extended deadline of December 31, 2024, to secure your investment in Rs. 40,000, 25,000, 15,000, and 7,500 bonds, now withdrawn from circulation. Extension of Last Date for Encashment of National Prize Bonds: Rs. 40,000, Rs. 25,000, Rs. 15,000, and Rs. 7,500 Now Valid Until 31st December 2024

.قومی انعامی بانڈز کی کیش کروانے کی آخری تاریخ میں توسیع: 40000 روپے، 25000 روپے، 15000 روپے اور 7500 روپے کے بانڈز اب 31 دسمبر 2024 تک قابلِ واپسی

 

The Government of Pakistan has officially extended the deadline for the encashment of the National Prize Bonds of denominations Rs. 40,000, Rs. 25,000, Rs. 15,000, and Rs. 7,500 until 31st December 2024. This extension provides a final opportunity for bondholders to redeem their investments, as these specific prize bonds were previously withdrawn from circulation.

Rs. 15,000 and Rs. 7,500 prize bonds deadline extended

Background of the Withdrawal

The State Bank of Pakistan (SBP), in line with the government’s policy to combat money laundering and improve transparency, discontinued the sale of higher denomination prize bonds—specifically, the Rs. 40,000, Rs. 25,000, Rs. 15,000, and Rs. 7,500 prize bonds. This action was part of a broader move to replace bearer instruments with more traceable and secure options, such as registered premium bonds.

Originally, the last date for the encashment of these prize bonds was set for June 30, 2023, but recognizing the need for more time for bondholders to adjust, the government has extended the deadline to 31st December 2024.

40000 روپے کے بانڈز کیش کروانے کی توسیع

How to Encash Your Prize Bonds

Bondholders can redeem their prize bonds in one of the following ways:

  1. Direct Encashment: Bondholders can visit any branch of the State Bank of Pakistan, commercial banks, or the National Savings Centers to cash in their bonds.
  2. Transfer to Premium Bonds: Another option is to convert the discontinued prize bonds into registered Premium Prize Bonds of Rs. 25,000 or Rs. 40,000. These premium bonds offer traceable ownership and allow participation in regular prize draws with lucrative prizes.
  3. Transfer to Bank Account: Holders can also transfer the encashed value directly into their bank accounts for a more secure and streamlined process.

قومی انعامی بانڈز کیش کروانے کی آخری تاریخ

Importance of Encashment Before the Deadline

Failure to encash the bonds by 31st December 2024 will make the bonds worthless, as the government will not honor any claims made after this date. Therefore, bondholders must act swiftly and ensure they redeem or convert their bonds before the extended deadline.

image of Last date to encash Rs. 40,000 prize bonds

Steps for Encashment

To make the encashment process as smooth as possible, bondholders are advised to follow these steps:

  • Visit an authorized bank branch, National Savings Center, or the SBP with your original prize bond(s).
  • Bring a valid CNIC (Computerized National Identity Card) for identity verification.
  • Complete the required forms for encashment, transfer, or conversion.

image of Extension of National Prize Bonds encashment deadline

The extension of the encashment deadline provides a welcome relief for those who still hold discontinued prize bonds of Rs. 40,000, Rs. 25,000, Rs. 15,000, and Rs. 7,500 denominations. With the new deadline set for 31st December 2024, bondholders are encouraged to act promptly and secure their investments.

For more information, visit the official website of the State Bank of Pakistan or your nearest National Savings Center.

image of Encash National Prize Bonds 2024

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