The Rs.7,500 and Rs.15,000 Prize Bonds were once part of Pakistan’s regular bearer National Prize Bond scheme, together with the old Rs.25,000 and Rs.40,000 bearer denominations. All four have now been withdrawn from circulation.
The withdrawals did not happen at the same time. The Rs.40,000 bearer bond was withdrawn first in 2019, followed by Rs.25,000 in 2020 and Rs.15,000 and Rs.7,500 in 2021. After several deadline extensions, the State Bank of Pakistan lists December 31, 2024 as the final date for encashment, conversion or redemption of all four withdrawn denominations.
- Rs.40,000 bearer Prize Bonds were withdrawn starting June 24, 2019.
- Rs.25,000 bearer Prize Bonds were withdrawn starting December 9, 2020.
- Rs.15,000 and Rs.7,500 bearer Prize Bonds were withdrawn in April 2021.
- No further draws were to be held for the withdrawn denominations.
- After several extensions, all four denominations received a final redemption deadline of December 31, 2024.
- The current Rs.25,000 and Rs.40,000 Premium Prize Bonds (Registered) are different products and remain available.
History of the Discontinued Prize Bonds
The withdrawal programme covered four old bearer denominations:
| Denomination | Withdrawal began | Original redemption deadline | Final extended deadline |
|---|---|---|---|
| Rs.40,000 bearer | June 24, 2019 | March 31, 2020 | December 31, 2024 |
| Rs.25,000 bearer | December 9, 2020 | May 31, 2021 | December 31, 2024 |
| Rs.15,000 bearer | April 28, 2021 | June 30, 2021 | December 31, 2024 |
| Rs.7,500 bearer | April 28, 2021 | December 31, 2021 | December 31, 2024 |
The original deadlines in this table came from the withdrawal instructions applicable when each denomination was removed. Later government notifications repeatedly extended the time available to bondholders.
Rs.40,000 Prize Bond Withdrawal History
The old Rs.40,000 National Prize Bond was a bearer bond. The Finance Division notified its withdrawal on June 24, 2019.
SBP instructed banks that these bonds were not to be sold after June 24, 2019 and that no further Rs.40,000 bearer-bond draws would be held. The initial deadline for redemption was March 31, 2020. That deadline was subsequently extended several times.
This old Rs.40,000 bearer bond should not be confused with the Rs.40,000 Premium Prize Bond (Registered) available today. National Savings currently lists Rs.40,000 Premium Prize Bonds among its active products.
Rs.25,000 Prize Bond Withdrawal History
The Finance Division issued notifications dated December 9, 2020 for withdrawal of the Rs.25,000 bearer Prize Bond and introduction of the Rs.25,000 Premium Prize Bond (Registered).
SBP’s December 10, 2020 instructions stopped further sale of the old bearer denomination with immediate effect and originally set May 31, 2021 as its redemption deadline.
Again, the historical Rs.25,000 bearer bond and today’s Rs.25,000 Premium Prize Bond are not the same instrument. The Premium bond is registered in the investor’s name.
Rs.15,000 Prize Bond History
The Rs.15,000 bearer Prize Bond remained in circulation longer than the old Rs.25,000 and Rs.40,000 denominations.
Finance Division notifications dated April 28, 2021 ordered the withdrawal of the Rs.15,000 and Rs.7,500 denominations. SBP issued its implementation circular on April 30, 2021 and instructed banks to stop selling both denominations immediately.
For the Rs.15,000 bond, the first announced deadline for encashment or redemption was June 30, 2021. SBP also stated that no further draws of the denomination would be held.
Rs.7,500 Prize Bond History
The Rs.7,500 bearer Prize Bond was withdrawn under the same April 2021 programme as the Rs.15,000 denomination.
Its original deadline was different. While Rs.15,000 bonds initially had to be dealt with by June 30, 2021, Rs.7,500 bonds initially had until December 31, 2021.
The government later extended deadlines, eventually bringing Rs.7,500 together with the other three withdrawn denominations under the same final date.
Why Did the Redemption Date Keep Changing?
The first withdrawal notices contained denomination-specific deadlines. Those dates were later extended through further Finance Division notifications and SBP circulars.
For example, SBP records extensions during 2021 and 2022. A September 6, 2023 circular extended the common deadline from June 30, 2023 to June 30, 2024. The next extension, announced on October 2, 2024, moved the date to December 31, 2024.
That distinction matters when reading old articles. A page published in 2021 or 2022 may show a deadline that was correct at the time but was later superseded.
What Was the Final Deadline?
SBP’s current information on withdrawn National Prize Bonds lists December 31, 2024 as the last date for all four denominations:
- Rs.7,500
- Rs.15,000
- Rs.25,000 bearer
- Rs.40,000 bearer
SBP’s October 2, 2024 circular instructed participating commercial banks to accept public requests for encashment, replacement or conversion until that date.
As of September 2026, December 31, 2024 has already passed, and SBP’s current withdrawn-bonds information still identifies it as the last date. Anyone who still physically holds one of these old bonds should therefore confirm their position directly with SBP BSC or National Savings rather than relying on an old online deadline.
What Could Bondholders Do During the Withdrawal Period?
During the withdrawal process, SBP provided alternatives instead of normal cash encashment over the counter. Depending on the applicable instructions, holders could use methods including conversion to Premium Prize Bonds (Registered), replacement with specified National Savings certificates, or encashment of face value through an account-based process.
These were withdrawal-period arrangements. They should not be treated as confirmation that an expired bearer bond can still be converted today.
Bearer Bonds vs Premium Prize Bonds
This is the most important distinction for readers checking old Prize Bond information.
National Savings describes a traditional Prize Bond as a bearer instrument, meaning ownership belongs to the holder of the physical instrument. A Premium Prize Bond, by contrast, is registered in the investor’s name.
Today, National Savings lists the following Prize Bond denominations:
Bearer National Prize Bonds: Rs.100, Rs.200, Rs.750 and Rs.1,500.
Premium Prize Bonds (Registered): Rs.25,000 and Rs.40,000.
So an old Rs.25,000 bearer Prize Bond is not an active Rs.25,000 Premium Prize Bond merely because both have the same face value.
What This Prize Bond History Means Today
The Rs.7,500, Rs.15,000, old Rs.25,000 and old Rs.40,000 Prize Bond history is mainly a story of the phased withdrawal of higher-value bearer bonds. The process began with Rs.40,000 in June 2019 and continued through the withdrawal of Rs.15,000 and Rs.7,500 in April 2021.
Several extensions followed, but SBP ultimately set December 31, 2024 as the final deadline applying to all four denominations. Readers checking old draw lists can still encounter these denominations in historical records, but they should not mistake them for currently active bearer Prize Bonds. For today’s denominations, check the current Prize Bond denominations page before buying or checking a bond.
PrizeBondList.pk is an independent information website and is not operated by National Savings, the State Bank of Pakistan or the Government of Pakistan. Official sources should be used for final confirmation of claims, forms and policy changes.
FAQs
Is the Rs.7,500 Prize Bond still valid?
The Rs.7,500 bearer Prize Bond has been withdrawn from circulation. SBP currently lists December 31, 2024 as the last date for encashment, conversion or redemption of the withdrawn denomination. That date has passed.
Is the Rs.15,000 Prize Bond still in circulation?
No. The Rs.15,000 bearer Prize Bond was withdrawn in 2021. Its original redemption deadline was June 30, 2021, although later government extensions eventually moved the common deadline for withdrawn bonds to December 31, 2024.
When was the Rs.7,500 Prize Bond discontinued?
Finance Division notifications concerning the Rs.7,500 and Rs.15,000 bonds were dated April 28, 2021. SBP issued its withdrawal circular on April 30, 2021 and instructed banks to stop selling both denominations immediately.
Is the Rs.25,000 Prize Bond discontinued?
The old Rs.25,000 bearer Prize Bond is discontinued. However, the Rs.25,000 Premium Prize Bond (Registered) remains an active National Savings product. They are two different instruments.
Is the Rs.40,000 Prize Bond discontinued?
The old Rs.40,000 bearer Prize Bond was withdrawn beginning June 24, 2019. The Rs.40,000 Premium Prize Bond (Registered), however, remains available.
Can I still check an old Rs.7,500 or Rs.15,000 winning number?
Historical draw records may still be useful for checking whether an old bond number appeared in a past draw. That does not extend the official prize-claim or bond-redemption deadline. Historical checking and current eligibility for payment are separate questions.