SBP Announces Final Draw Schedule for National Prize Bonds

The State Bank of Pakistan (SBP) has issued a notice regarding the final remnants of withdrawn National Prize Bonds, which will be eligible for redemption until the end of the year, and the National Savings Division has released the draw schedule for the New Year, outlining the dates for Rs. 750 and Rs. 200 prize bonds.

In a recent announcement, the National Savings Division unveiled the Prize Bond schedule for 2025, featuring draws for Rs750 and Rs200 bonds. The inaugural draw for Rs750 bonds is set to take place on January 15, while the final draw for Rs200 bonds will be held on December 15. These draws will be conducted in various cities across Pakistan, including Karachi, Lahore, and Peshawar. The draws aim to provide multiple opportunities for participants to win life-changing amounts.

Concurrently, the State Bank of Pakistan (SBP) has announced that December 31, 2024 marks the final deadline for redeeming, encashing, or converting National Prize Bonds of denominations worth Rs. 7,500, Rs. 15,000, Rs. 25,000, and Rs. 40,000. This development comes as the fourth extension granted since the bonds were withdrawn from circulation in 2021. Participants can redeem these bonds through various options, including encashment, replacement, or transfer of funds into their bank accounts, at SBP offices or commercial banks. The SBP urges bondholders to act promptly to avoid losing the validity of their bonds.

Notably, the SBP has extended the redemption window for National Prize Bonds worth Rs7,500, Rs15,000, Rs25,000, and Rs40,000 until December 31. The bonds can be redeemed or exchanged at any office of the State Bank of Pakistan Banking Services Corporation or at a branch of any commercial bank. Subsequently, no more applications will be entertained after this date. This extension offers a final opportunity for bondholders to acquire their due amount for the aforementioned denominations.

The announcement highlights the efforts of the National Savings Division and the SBP to provide secure and rewarding investment options to individuals across Pakistan. As 2024 draws to a close, stakeholders are advised to take advantage of the final redemption window for withdrawn National Prize Bonds to avoid loss of validity and claim their rightful returns.