SBP reminds public of final date for encashment of withdrawn prize bonds

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SBP reminds public of final date for encashment of withdrawn prize bonds
SBP reminds public of final date for encashment of withdrawn prize bonds

An undated picture of prize bonds. — On-line/File

Because the deadline nears, the federal authorities on Monday reminded the general public to encash the withdrawn prize bonds earlier than June 30. 

“The Federal Authorities has given one other alternative to the general public to get the withdrawn prize bonds of Rs.7500, 15,000, 25,000 and Rs. 40,000 redeemed/encashed by June 30, 2023,” mentioned an announcement issued by the State Financial institution of Pakistan (SBP).

Initially, the federal government had fastened June 30, 2022, because the deadline for the redemption or encashment of those prize bonds, nevertheless, it was prolonged as a number of the prize bond holders couldn’t get their bonds redeemed a remaining alternative has been given for encashment of prize bonds until 30th June 2023.

The buyers of aforesaid prize bonds have the next choices of encashment or change.

  • Encashment at Face Worth
  • Conversion to Premium Prize Bonds of Rs. 25,000 and/or Rs. 40,000 (Registered)
  • Substitute with Particular Financial savings Certificates (SSC) or Protection Financial savings Certificates (DSC)

These looking for to redeem the prize bonds can strategy the SBP’s Banking Providers Company workplace and branches of economic banks throughout the nation.

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