Prize bonds can be acquired and cashed in any quantity at all SBP BSC (Bank) field offices, National Savings Center offices, and approved commercial bank branches.
What is the procedure for redeeming prize bonds?
Answer: A claim for prize money declared on a winning prize bond can be made free of charge at any field office using the approved claim form. The completed form, along with a photocopy of the applicant’s NIC and a legally signed winning prize bond, may be submitted.
In Pakistan, how do I swap prize bonds?
Simply pick up an application form for claiming prize bond money at the information or service desk. Tell the officer how many bonds you wish to encash and what denominations they are. He will offer you three forms if you have ten Rs750 bonds, five Rs1500 bonds, and two Rs7500 bonds, for example.
On a 1500 prize bond, how much tax do I have to pay?
National Savings – Withholding Tax on Prize Money For prizes won on or after July 1, 2016, the rate of withholding tax on prize money will be 20% in the case of non-filers and 15% in the case of filers.
If you win, will prize bonds contact you?
The good news is that the prizes will be held forever until a bond holder claims them, and each prize winner will be notified at the address last registered with the Prize Bond Company.
What is the procedure for withdrawing a government bond?
- Whether you have a local bank account and it accepts savings bonds, inquire if it will accept yours. The answer may be contingent on the length of time you’ve had an account there. If the bank will cash your check, find out if there is a monetary restriction on redemptions and what kind of identification and other documentation you’ll need.
- Send these, along with FS Form 1522, to Treasury Retail Securities Services (download or order). The bonds are not required to be signed. You’ll need to verify your identity. The instructions are on FS Form 1522, in the “Certification” section. Our address is also included in the form.
When do Irish Prize Bonds get drawn?
In Ireland, there is no tax on winnings. The draw occurs once a week, generally on Friday. Prize Bonds are automatically placed into every draw, with thousands of dollars up for grabs each week. The last weekly draw in March, June, September, and December awards a 250,000 reward.