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SBP extends Rs40,000 prize bond encashment deadline to Dec 2021
The government discontinued the bond in June 2019 SAMAA | Samaa Money - Posted: Dec 11, 2020 | Last Updated: 4 months ago SAMAA | Samaa Money Posted: Dec 11, 2020 | Last Updated: 4 months ago
Photo: SAMAA Digital FILE
The State Bank of Pakistan has extended the deadline to encash Rs40,000 prize bonds by one year. You now have until December 31, 2021 to redeem these prize bonds.
The government discontinued these bonds in June 2019, but
allowed people to encash them by March 31, 2020. The deadline was extended till
December 2020 before being extended by another year. The new policy is part of
a drive to curb money laundering and tax evasion, one of the conditions
Government discontinues Rs25,000 prize bonds
You can cash yours by May 31, 2021 SAMAA | Bilal Hussain - Posted: Dec 10, 2020 | Last Updated: 4 months ago SAMAA | Bilal Hussain Posted: Dec 10, 2020 | Last Updated: 4 months ago
The government has discontinued the Rs25,000 denomination prize bonds with immediate effect. It will no longer issue these bonds while those in possession can be cashed or replaced with other bonds by May 31, 2021.
If you currently have this particular bond, you have till May 2021 to avail one of three choices. You can cash it any time, convert it into either a Special Savings Certificate or Defence Savings Certificate or convert it into a Premium Prize Bond.