Wherein to Encash Prize Bonds from the State Bank of Pakistan
Are you seeking a direction to encash your nationwide prize bond? If yes, then you have reached the right page. In this directory, we shall confide you guys about how to encash prize bonds from the State Bank of Pakistan.
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What is the objective of Prize Bonds strategy?
The prize bond is an administration strategy that motivates public interest. It is a derivation of borrowing for the administration.
What are the several sects of Prize Bonds and their respective prize cash?
Nowadays, there are eight denominations of prize bonds in circulation, features of which are provided in the picture below.
How multiple draws of Prize Bonds are carried in a year?
Four draws of each sect (Rs 100/-, Rs 200/-, Rs 750/-, Rs 1500/-, Rs 7500/-, Rs 15000/-, Rs/- 25000, Rs 40000/-) i.e. a total of 32 yanks are carried in a year at State Bank field offices according to the plan announced by Central Directorate of National Savings (CDNS).
From where you can encash Prize Bonds?
Prize Bonds can be purchased and encashed in any abundance from State Bank field departments, National Savings centers, and appointed branches of commercial banks.
Can Prize Bonds be encashed any moment after purchase?
Affirmative! you can encash the prize bond anytime you need.
What is the vitality of a Prize Bond?
The exterior value of the prize bond issued by the rightful dealers is repayable at any time till a particular brand of the prize bond is suspended by the federal government/State Bank of Pakistan. In such litigation, the state will provide sufficient time to the bondholders to market the cancelled bonds how to Encash Prize Bonds from the State Bank of Pakistan | Procedure
Presently moving back to the fact, how to encash the treasure(prize) bond from the State Bank of Pakistan. To understand how it can be accomplished, you desire to pursue the pedagogy provided below.
Tour any closest State Bank of Pakistan Banking Services Corporation (SBP-BSC) area department.
Hand out the real treasure bond at the counter of the SBP-BSC area department or office.
Thereupon assurance of its genuineness, you will earn the complexion price of the prize bond excluding any inference.
How to contend Prize wealth
If you’re one of the fortunate conquerors of the prize fortune and urge to allege it then you expect to follow the protocols provided below.
Take off to any SBP-BSC field office.
Receive the assertion form from the help desk. The claim form is independent of cost.
Fill the declaration form carefully and provide all the crucial information.
Provide the duly signed claim form along with a photocopy of valid CNIC, gaining a victory prize bond (original) duly signed by the applicant, and a photocopy of the prize-winning bond authorized the applicant to the person at the counter.
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The number of days claims compensation of prize money is allotted below.
Up to Rs.18,500/- same day
Up to Rs.500,000/- 20 functioning days
Above Rs.500,000/- 30 functioning days
If the prize money is additional than Rs. 18,500 then the applicant will receive a receipt from the bank which indicates a duration for collecting the payment order. On the due date, you have to get to the SBP field office again and furnish the claim voucher at the counter. After that, the fee will be inserted into your commercial bank account.
Note Prize cash up to Rs. 1,250/- can also be acknowledged from National Savings centers.