Pakistan National Savings Bonds Prize Money Claiming Procedure
Name of the Organization : Central Directorate of National Savings
Type of Facility : National Savings Bonds Prize Money Claiming Procedure
Country :Pakistan
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Website : savings.gov.pk
Related : Pakistan National Special Savings Certificate Registered Scheme : www.statusin.org/2126.html
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National Savings Prize Bonds :
Prize Bonds are bearer type of security available in the denominations of Rs.100, Rs.200, Rs.750, Rs.1,500, Rs.7,500, Rs.15,000, Rs.25,000 and Rs.40,000. These bonds are issued in series.
Prize money exceeding Rs.1250/- can be claimed only from the branches of State Bank of Pakistan.
Each series consist of one less than 1,000,000 bonds. No fixed return is paid but prize draws are held on quarterly basis. The draws are held under common draw method and the number of prizes are same for each series. It means that if 50 series of Rs.200 Prize Bond are in circulation. Then on each draw we have 50 winners of 1st prize and 250 winners of 2nd Prize and so on.
Procedure To Claim A Prize On A Prize Bond :
** The prize money upto Rs.1,250/- can be claimed from any National Savings Centre, branches of authorized scheduled banks or branches of State Bank of Pakistan.
** To claim the prize money, a duly filled application form (PB-1) along with a photo copy of the CNIC, a photo copy of the winning prize bond duly signed on the back is to be presented in the concerned office. However, the prize money is subject to 15% withholding tax.
Download Form : savings.gov.pk
Maximum Period For Claiming The Prize Money :
The prize on any prize winning Prize Bond can be claimed within six years reckoned from the date of that particular draw result. No claim, after the said period of six years is entertained.
Deduction on Encashment of Prize Bonds :
The prize bonds can be redeemed on the face value and there is no deduction whatsoever on the encashment of a prize bond itself irrespective of the amount involved.
Contact Us :
Central Directorate of National Savings,
23-N, Savings House, G-6 Markaz,
Civic Centre, Islamabad.Pakistan
Ph : # 051-111-267-268, 051-9215741 (43 & 48)
Fax : 051-9215761
Email : info@savings.gov.pk
What is the total amount of prize bound 15,000 which I will receive? What is meant by winning 3rd prize?
Total amount will be (185000-10% tax) + 15000 prize bound amount. Please correct if I am wrong.
Prize bond is Rs.1500 and third prize is Rs.18,500 so, how much is the total claim rupees after 25% tax?