Questions related to claims of prize money of winning prize bonds Pakistan
1. What are the Guidelines for application forms of all denominations of Prize Bonds?
Answer: The claim of prize money declared on winning prize bond can be lodged at any field office on the prescribed claim form, which is available at the help desk free of charge. The form duly filled may be submitted along with the following:
- Photocopy of valid CNIC
- Winning prize bond (original) duly signed by the applicant
- Photo copy of the prize winning bond duly signed by the applicant
2. Whether a prize bond deposited with application for prize money is returned to the claimant?
Answer: Prize bonds winning prize money below Rs. 18,500/- are returned, in case of prize money Rs. 18,500/- and above are retained and their face value is paid to the claimant.
3. What is the procedure of obtaining prize money claim and from where it can be claimed?
Answer: The claim form is submitted at the respective counter of any offices of SBP BSC (Bank). Prize money up to Rs. 18,500/- is paid on counter (subject to clearance of bond) the same day after deduction of 15% withholding tax for Filers and 25% for Non Filers . Prize money over Rs. 18,500/- is given through payment order only by the date given to claimants for collecting the prize money. Prize money up to Rs.1250/- can also be claimed at commercial banks and National Savings Centers.
4. After how many days of draw prize money claim can be lodged?
Answer: The claim can be lodged usually after 3 or 4 working days from the date of draw and within Six years from the date of relevant draw.
5. How many days are required for settlement of prize money claim?
Answer:
| Amount | No. Of Days |
|---|---|
| Upto Rs.18,500/- | Same Day |
| Upto Rs.185,000/- | 10 working days |
| Upto Rs.500,000/- | 15 working days |
| Above Rs.500,000/- | 20 working days |
6. Are prize bond numbers sold to the customers of their own choice?
Answer: No.
7. What is Shut Period? Why?
Answer: Shut period means a period of two months preceding the date of draw of a particular denomination.