Prize Bonds: A Comprehensive Guide

Unlike traditional savings accounts or fixed deposits, prize bonds do not earn interest. Instead, they are entered into regular draws where lucky bondholders can win substantial amounts, providing the opportunity to win significant cash rewards.  These bonds are considered a safe and low-risk investment in Pakistan and other countries.

What Are Prize Bonds?

A prize bond is a form of investment issued by the government. Investors purchase these bonds in various denominations, and every three months, each bond is entered into a draw for its respective category. If your bond number is selected, you win a cash prize. The government ensures transparency in these draws, establishing them as a reliable investment.

Denominations and Prices of Prize Bonds

Prize bonds are available in various denominations, making them accessible to many investors. The available categories for prize bonds in Pakistan include:

Each bond is purchased at its face value. For instance, a Rs. 200 prize bond costs Rs. 200. It's important to note that certain denominations, such as Rs. 7,500, Rs. 15,000, Rs. 25,000, and Rs. 40,000, have been withdrawn from circulation.

When Are the Prize Bond Draws Held?

Draws for prize bonds occur every three months (quarterly) for each active denomination. The schedule is established in advance by the regulatory financial authority, and each draw takes place in various cities throughout Pakistan. The draw dates typically fall on the 1st or 15th of the designated months.

For example:

• Rs. 750 Prize Bond: The Next draw is on April 15, 2025, in Peshawar.

• Rs. 1,500 Prize Bond: The Next draw is in Karachi on May 15, 2025.
  
  

National Savings Pakistan publishes the complete schedule online for public viewing. Monitoring these dates is crucial to confirm if your bond number has won.

Prize Money and Winnings

The winnings for each prize bond vary by denomination. Below is a breakdown of the prizes for each active category:

How to Check Prize Bond Results

Checking the results of your prize bond is simple, and there are multiple ways to verify whether your bond number has won a prize:

• Official Website: The National Savings Pakistan website provides an online portal where you can enter your bond number to check results.
  

• Newspapers: Major newspapers publish the winning numbers the day after the draw.
  

• Bank Branches: Selected banks display prize bond results at their branches.
  

• SMS Service: Some services allow you to send your bond number via SMS to receive instant results.
  

• Mobile Apps: Several official and third-party apps provide updated results for easy access.
  

How to Claim Prize Money

If you win a prize, follow these steps to claim your winnings:

1. Verification: Confirm your prize bond's number against the official list of winners available on the State Bank of Pakistan (SBP) or Central Directorate of National Savings (CDNS) websites.
   

2. Submission of Claim: For prizes up to PKR 18,500, you can claim directly from any SBP Banking Services Corporation (SBP BSC) office or authorized commercial bank branches. For prizes above PKR 18,500, claims must be submitted to SBP BSC offices.
   

3. Required Documentation:
   

• Original winning prize bond.
  

• Copy of your Computerized National Identity Card (CNIC).
  

• Duly filled Prize Claim Form (available at SBP offices or their official website).
  

4. Tax Deductions: As per government policy, a withholding tax is deducted from the prize money:
   

• Filers: 15% of the prize amount.

• Non-Filers: 35% of the prize amount.
  

5. Processing Time: After submission, the prize money is typically disbursed within a few working days, subject to verification.
   

Final Thoughts

Prize bonds offer an exciting and secure method to invest funds, with the chance to win substantial rewards. With various denominations, they cater to all kinds of investors. Monitoring the draw schedule and verifying outcomes ensures you never miss out on a potential win.

Always consult official sources for the most accurate and up-to-date information.