The prize on any prize winning Prize Bond can be claimed within six years reckoned from the date of that particular draw result. No claim, after the said period of six years is entertained.
The prize bonds can be redeemed on the face value and there is no deduction whatsoever on the encashment of a prize bond itself irrespective of the amount involved.
The prize money upto Rs.1,250/- can be claimed from any National Savings Centre, branches of authorized scheduled banks or branches of State Bank of Pakistan. Prize money exceeding Rs.1250/- can be claimed only from the branches of State Bank of Pakistan. To claim the prize money, a duly filled application form (PB-1) along with a photo copy of the CNIC, a photo copy of the winning prize bond duly signed on the back is to be presented in the concerned office. However, the prize money is subject to 15% withholding tax.