Deadline for redeeming prize bonds has been postponed

Deadline for redeeming prize bonds has been postponed

A delay in the encashment and redemption of the withdrawn prize bonds worth Rs. 7,500, Rs. 15,00, Rs. 25, and Rs. 40,000 was declared by the State Bank of Pakistan on Wednesday.

According to a statement released by the SBP, the deadline for redeeming the prize bonds has been moved up to June 30, 2023.

“The government had previously set a deadline of June 30, 2022, for redemption/encashment of these prize bonds, but recognizing that some of the prize bond holders were unable to get their bonds redeemed, a final opportunity has been offered for encashment of prize bonds till June 30, 2023,” it stated.

Investors in the aforementioned prize bonds have a few different options for cashing out or exchanging their bonds:

According to the release, prize bonds may be redeemed up to June 30 at offices of commercial banks nationwide and the SBP Financial Services Corporation.

According to the statement, “The SBP has issued required instructions to commercial banks to accept requests from the general public for the encashment or exchange of the prize bonds until the extended period.”

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