The State Bank of Pakistan (SBP) reminded people on Wednesday that the 30th of June is the last day to cash in or redeem the withdrawn prize bonds worth Rs7,500, Rs15,000, Rs25,000, and Rs40,000.
“Prior, the public authority had fixed cutoff time of June 30, 2022, for reclamation/encashment of these award bonds, in any case, taking into account that a portion of the award investors couldn’t get their bonds recovered a last open door has been given for encashment of prize bonds till June 30, 2023,” the SBP said in an explanation gave today.
The following options are available to investors in the aforementioned prize bonds: exchange or cash.
Special Savings Certificates (SSC) or Defence Savings Certificates (DSC) may be substituted (DSC) The prize bonds may be redeemed at the SBP Financial Services Corporation headquarters and commercial bank branches across the nation till June 30, 2023, according to the central bank statement. Acceptance at face value Conversion to Rs25,000 and/or Rs40,000 premium prize bonds (Registered).
According to the notification
According to the notification, the SBP has issued the necessary instructions to commercial banks to accept public requests for encashment or exchange of prize bonds until the extended date.
It stated that these prize bonds would be worthless and would not be redeemable after the extended deadline, encouraging the general public to take advantage of the last opportunity.