conversion of denomination prize bonds in pakistan msg from bank Banks - What are the chancesofwinningprize bonds in Pakistan Prize Bonds Conversion Of Denomination Prize Bonds in Pakistan: A Comprehensive Guide

Benefitsof Prize Bonds in Pakistan Navigating the process of conversion of denomination prize bonds in Pakistan following their withdrawal from circulation can seem complex.Encashment Conversion This guide aims to provide clarity and detailed information, drawing on resources from financial institutions and government bodies, ensuring you have the verifiable details needed for a smooth conversion process佛历2564年4月30日—First, the Rs7,500 bonds can be converted into PremiumPrize Bonds(registered) ofdenominationof Rs25,000 and Rs40,000 (subject to the .... The State Bank of Pakistan (SBP) and the Central Directorate of National Savings (CDNS) are key entities involved in managing these financial instruments.Product Central Directorate of National Savings (CDNS) has initiated a RegisteredPrize BondsScheme called' PremiumPrize Bonds(Registered) We are pleased to inform you that TheBankof Khyber has been selected amongst thebanksthat have been authorized by the StateBankofPakistanto increase the outreach of the

Understanding Withdrawn Denominations and Their Status

Previously, several denominations of National Prize Bonds (NPBs) were issuedDate to encash withdrawn prize bonds extended: SBP. Effective from specific dates, major denominations such as Rs. 40,000, Rs. 25,000, Rs. 15,000, and Rs.Frequently Asked Questions on Withdrawn National Prize ... 7,500 were withdrawn from circulation. This means these specific bonds are no longer available for purchase and have a specified deadline for encashment or conversion. The State Bank of Pakistan regularly issues reminders regarding these deadlines.How to Encash Prize Bonds from the State Bank of Pakistan For instance, a msg from bank might alert holders of the Rs. 40,000 denomination Prize Bonds about upcoming deadlines for their conversion.

Options for Holders of Withdrawn Denomination Prize Bonds

For holders of these withdrawn Prize Bonds, there are generally three primary options available, as repeatedly highlighted by various banks and official sources:

1. Conversion to Premium Prize Bonds (Registered): This is a frequently emphasized option佛历2563年7月15日—Four draws of eachdenomination(Rs 100/-, Rs 200/-, Rs 750/-, Rs 1500/-, Rs 7500/-, Rs 15000/-, Rs/- 25000, Rs 40000/-) i.e. total 32 draws are held in a year at StateBankfield offices according to the schedule announced by Central Directorate of National Savings (CDNS). From where you can encash .... You can convert the bond to a Premium Prize Bond. These are registered bonds, meaning they are in the name of the investor, offering enhanced security. These Premium Prize Bonds (Registered) are available in denominations of Rs. 25,000 and Rs.佛历2564年4月30日—First, the Rs7,500 bonds can be converted into PremiumPrize Bonds(registered) ofdenominationof Rs25,000 and Rs40,000 (subject to the ... 40,000Premium Prize Bonds (Registered) Scheme. For example, Rs. 7,500 denomination prize bonds withdrawn from circulation can be converted into Premium Prize Bonds (Registered) of Rs. 25,000. Similarly, Rs. 40,000 Bearer Prize Bonds can be converted to Premium Prize Bonds (Registered). This process typically involves completing a specific application form, such as the PK State Bank PB-23-A Form.

2. Replacement with Special Savings Certificates or Defence Savings Certificates: Another avenue for investors is to replace their withdrawn prize bonds with other government savings schemes. This could include Special Savings Certificates or Defence Savings Certificates, offering alternative investment opportunities with their own profit structuresPayment of Prize Money & Face Value of National ....

3. Encashment: For those who do not wish to convert or replace their bonds, direct encashment is also an option. However, it's crucial to adhere to the stipulated deadlines for encashment. The Pakistan Banking sector, through its authorized banks, facilitates this process.Payment of National Prize Bonds | HABIBMETRO Bank

Where and How to Convert Your Prize Bonds

The conversion and encashment of Prize Bonds can be undertaken at designated branches of Commercial Banks and National Saving Centers.I hereby declare and accept that: 1. The NationalPrizeBond(s) presented by me for encashment is/are “Genuine”. In case the bond(s) is/are found. The State Bank of Pakistan Banking Services Corporation field offices also play a significant role in this process佛历2562年6月20日—40,000 Bearer Prize Bonds can be converted to Premium Prize Bonds (Registered) through 16 field offices of SBP Banking Services Corporation, .... For the conversion of bearer Prize Bonds, the 16 field offices of the SBP Banking Services Corporation are frequently mentioned as key locations.

When presenting your Prize Bonds for conversion or encashment, you will typically need to:

* Complete an application form, such as the "Application for Conversion / Encashment of Rs. 25,000/- Denomination National Prize Bonds," or similar forms depending on the specific denomination.

* Provide proof of identification.佛历2563年7月15日—Four draws of eachdenomination(Rs 100/-, Rs 200/-, Rs 750/-, Rs 1500/-, Rs 7500/-, Rs 15000/-, Rs/- 25000, Rs 40000/-) i.e. total 32 draws are held in a year at StateBankfield offices according to the schedule announced by Central Directorate of National Savings (CDNS). From where you can encash ...

* Declare that the presented bond(s) are "Genuine."

The Role of Banks in the Conversion Process

Various banks in Pakistan are authorized to facilitate these transactions. For instance, HABIBMETRO Bank, Bank AL Habib, and The Bank of Khyber are among those that assist customers with the encashment and conversion of NPBs. HABIBMETRO Bank, for example, allows its customers to receive Prize Money claims up to PKR 500,000 for all denominations of National Prize Bonds, as well as their face value.

It's important to note that the State Bank of Pakistan may extend deadlines for encashment and conversion of these withdrawn bonds. Keeping an eye on official announcements through banks or the SBP website is advisable.Application for Conversion / Encashment of Rs.25000/- ... The State Bank of Pakistan has, at times, extended the last date for encashment, conversion, or redemption of Rs.Premium Prize Bond 40,000, RsPremium Prize Bond. 25,000, Rs. 15,000, and Rs. 7,500 denominations consecutively.

Future Initiatives: Digital Prize Bonds

Looking ahead, CDNS is planning to introduce Digital Prize BondsISLAMABAD, Dec 31 (APP): The last date for cashing, exchanging or redeeming Rs 40,000 Rs 25,000 Rs 15,000 and Rs 7,500denominationNationalPrize Bonds.... This move is expected to streamline the process further, with prize money being directly credited to customers' accounts, potentially reducing the expenditure associated with physical bondsFrequently Asked Questions on National Prize Bonds. This signifies a move towards modernization in the Prize Bonds sector in Pakistan.ISLAMABAD, Dec 31 (APP): The last date for cashing, exchanging or redeeming Rs 40,000 Rs 25,000 Rs 15,000 and Rs 7,500denominationNationalPrize Bonds...

By understanding the available options and the procedures involved, holders of withdrawn denomination Prize Bonds can effectively manage their investments and ensure they do not miss out on the value of their bonds. Always refer to official communication from authorized banks and the State Bank of Pakistan for the most up-to-date information and specific requirements related to the conversion of denomination prize bonds in PakistanNPBs: encashment, conversion, redemption date extended.