The Complete procedure to claim a Prize Bond Prize Money
The claim of Prize Bond 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. and here you can also download from this site. 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
Prize Bond Prize Money Claim Form
To fill in the form in all respect correctly i.e. Bond numbers, name, date of draw, date of issue etc. Date of issue is very important because Only those prize bonds qualify for prize money, which has been purchased two months prior to their respective draw. Bonds are first checked at field offices by the counter staff who imparted training from PSPC and in the case of doubt, the same sent to PSPC. However, prize winning bonds one million and above are essential to be sent to PSPC due to huge prize money involved.
Prize Bond deposited with an application for prize money is returned if Prize bonds winning prize money below Rs. 10,000.
in case of prize money Rs. 10,000/- and above are retained and their face value is paid to the claimant. Face value against Defective prize bonds is paid after passing thereof by authorized officer whereas the Payment of prize money is paid as usual.
Prize Bond Prize money can be claimed/availed by the person he/she himself/herself on fulfilling of prescribed claim Form available at Help Desk and you can also download here on this page.
Download Claim Form of Prize bond
Duration (Days) are required for settlement of Prize Bond Prize Money Claim
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
the counter (subject to clearance of bond) the same day (from 30th Draw and onward) after deduction of withholding tax. 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.
Tax Deducted From Winning Prize Bond
25% For non-filers ( non-taxpayer)
15% for filers ( taxpayer)
against the prize money is deducted at source at the time of payment of prize money.
- Up to Rs.18,500/- same day (30th draw & onward)
- Upto Rs.185,000/-10 working days
- Upto Rs.500,000/- 15 working days
- Above Rs.500,000/- 20 working days
The claim can be lodged usually after 3 or 4 working days from the date of draw and Prize money can be claimed within six years from the date of the relevant draw. Claim against prize bond winning in two different draws can be lodged at the same time against two separate claim application by the holder within the period of Six (06) years from the date of its relevant draws.