You can still redeem your prize bonds in these denominations

In a major development, the State Bank of Pakistan (SBP) has notified an extension in the encashment date for prize bond holders.

According to details, those having prize bonds of 7,500, 15,000, 25,000, and 40,000 denominations can redeem their bonds till December 31, 2024.

Prize bond encashment date 2024

The prize bond encashment deadline has been extended from the original cutoff date of June 30, 2024 after the government announced it was discontinuing prize bond in said denominations to prevent illegal parking of wealth.

The central bank also said that bonds of Rs 25,000 and Rs 40,000 can be converted into premium prize bonds or exchanged for special savings certificates or defense savings certificates.

Commercial banks have been directed to process applications for cashing or exchange of bonds by the new deadline.

Prize bond draw schedule 2024 in Pakistan