What is the deadline for encashment of withdrawn price obligations?

An undated image of Rs200 price bonds.  — Online/File
An undated image of Rs200 price bonds. — Online/File

All holders of Prize Bonds worth Rs. , with the approval of the federal government, has extended the date.

It should be noted that previously, the government had set a deadline of June 30, 2022, for the redemption or collection of these premium bonds.

However, the central bank – in a statement released in this regard – said: “The Federal Government has given another opportunity to the public to get the withdrawn price bonds of Rs7,500, 15,000, 25,000 and 40,000 redeemed or collected by June 30, 2023.”

However, the central bank said that since some of the prize bond holders could not redeem their bonds, a final opportunity was given for the cashing of the prize bonds until June 30, 2023.

Investors in the aforementioned price bonds can redeem or exchange their bonds in one of the following ways:

  • Collection at face value
  • Conversion into premium bonds of Rs25,000 and/or Rs40,000 (registered)
  • Replacement by Special Savings Certificates (SSC) or Defense Savings Certificates (DSC)

Prize bonds can be redeemed at the office of SBP Banking Services Corporation and branches of commercial banks across the country.

“The SBP has issued the necessary instructions to commercial banks to accept applications from the general public for the cashing or exchange of the price bonds until the extended date,” the statement said.

Encouraging the general public to take advantage of this latest opportunity, the SBP said that these prize vouchers will not be cashable or redeemable after the extended deadline has expired.

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