The deadline for the encashment of withdrawn prize bonds has been extended.
The deadline for the encashment, conversion, or redemption of national prize bonds with denominations of Rs. 40,000/-, Rs. 25,000/-, Rs. 15,000/-, and Rs. 7,500/- has been extended until June 30, 2024.
Original deadline for handling mentioned denominations of national prize bonds has been extended. These transactions include encashment (cashing in), conversion (changing the form or value), or redemption (exchanging for money) of national prize bonds with specific denominations, namely Rs. 40,000/-, Rs. 25,000/-, Rs. 15,000/-, and Rs. 7,500/-. The new deadline for these activities is now June 30, 2023. This extension provides individuals with additional time to complete these financial processes related to the mentioned prize bonds.
Investors holding the mentioned Prize Bonds in Pakistan have the following choices for encashment or exchange:
1) Cash withdrawal at the face value.
2) Conversion to Premium Prize Bonds of Rs. 25,000 and/or Rs. 40,000 (Registered). c. Substitution with Special Savings Certificates (SSC) or Defense Savings Certificates (DSC).
Source: National Savings