The State Bank of Pakistan (SBP) has issued a reminder to the public that December 31, 2024, marks the final deadline for the redemption, encashment, or conversion of National Prize Bonds in denominations of Rs. 7,500, Rs. 15,000, Rs. 25,000, and Rs. 40,000. According to the SBP’s official WhatsApp channel, no applications will be entertained after this date.
This is the fourth and final extension granted by the government since the bonds were withdrawn from circulation in 2021. Previous deadlines were extended multiple times to facilitate bondholders, with the latest extension announced in October 2024 through CMD Circular No. 1.
Bondholders have several options for redeeming their bonds, including encashment, replacement with Premium Prize Bonds, or transferring funds into their bank accounts. These transactions can be carried out at any of the SBP Banking Services Corporation offices or through commercial bank branches.
The decision to withdraw the bonds was made to improve compliance with financial regulations and enhance transparency within the financial sector. With the expiration date fast approaching, the SBP is urging all bondholders to act promptly to avoid losing the validity of their bonds.
For more information, bondholders are encouraged to visit their nearest SBP office, commercial bank branch, or consult the SBP’s official website for further details.