FAQ’s

PART A. CLAIMING YOUR PRIZE MONEY (25)

Some of the essentials that need to be provided include:

  • Copy of applicant’s valid CNIC
  • Original prize bond signed by applicant
  • Signed copy of prize winning bond. The photocopy must include signature of applicant.

To fill the forms, applicant will be required to add their name, specific bond numbers, date of draw and date of issue.

After filling the form, the prize bonds are first scrutinized & checked for originality at the field office. The bonds, with one million or higher in value are sent to PSPC for further checking.

The payment of prize money is made separately after payment of face value against defective prize bonds once approved by authorized officer.

The prize money should be claimed on applicant’s name only.

For a prize bond to qualify for prize money, it should be purchased two months before drawing it.

Yes, the prize money below Rs.10, 000 is returned.  For prize money above 10,000, it is retained after payment of face value to claimant.

Once the required conditions are fulfilled, the prize money for lost receipt is claimed.

To claim prize money, claim form available on Help Desk should be collected and filled by the applicant.

Multiple signatures are required on prize bond forms to ensure the safety of bank, applicant and all parties involved.

To claim prize money and obtain it, a series of steps should be followed.

  • The first step is to submit the claim form at SBP BSC office.
  • If the bond is cleared, prize money up to 18,500 will be paid the same day.
  • A tax of 10% will be deducted on the total amount.
  • Any amount over 18,500 will be given on payment date specified to the claimant.
  • If the prize amount is below or equal to 1250, it can be claimed at bank or National Savings Centers.

The ownership of prize bond belongs to the holder as it is a bearer instrument.

For a prize bond to qualify for prize money, it should be purchased two months before drawing it.

To claim prize money and obtain it, a series of steps should be followed.

  • The first step is to submit the claim form at SBP BSC office.
  • If the prize money is 18,500 or less, it will be paid the same day.
  • A tax of 10% will be deducted on the total amount.
  • Any amount over 18,500 will be given on payment date specified to the claimant.

The time required to settle the prize money varies depending on the amount.

  • Amount equal to or less than 18,500 can be drawn on the same day.
  • Equal to or less than 185,000 will require 10 working days.
  • Equal to or less than 500,000 will require 15 working days.
  • More than 500,000 will require 20 working days.

There are no required charges on prize money claim form.

After date of draw, the prize money can be claimed within 3-4 days to maximum 6 years from the date.

Authorizing a person to receive prize money depends on many different factors including reliable authority. It is usually left upon the discretion of field officers.

 

Yes. The prize money of damaged bond can be claimed.

Every type and amount of prize money claims are paid on SBP BSC Counters.

There is no way to certainly ensure winning a prize bond.

The prize money takes at least a few days to process due to record, book-keeping & other official purposes.

The prize money is processed after it receives confirmation status from PSPC and PDO.

The prize money can be claimed up to 6 years following date of draw.

An applicant can lodge separate prize claims using different applications on the same day.

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