If you are searching for PB-1 and claim requirements for a winning Prize Bond, there is an important update to understand before submitting anything. The State Bank of Pakistan’s current National Prize Bond forms page lists PB-23 as the Prize Money Claim Application Form. It does not list PB-1 as the current general prize-money claim form. SBP separately lists PB-1-A for payment of the face value of mutilated or defaced Prize Bonds.
For a normal bearer National Prize Bond prize claim, the claimant generally needs the original winning bond, a valid CNIC/SNIC copy, a copy of the bond, the required signatures and the current prescribed claim form. The claim must also be made within the official time limit.
Quick Answer
- Current SBP prize-money claim form: PB-23.
- PB-1-A: for the face value of mutilated or defaced National Prize Bonds, not the normal prize-money claim form.
- Bring the original winning Prize Bond, a copy of it and a valid CNIC/SNIC copy.
- SBP’s PB-23 checklist requires two signatures on the reverse of both the original bond and its copy.
- Prize money can be claimed within six years from the date of the relevant draw.
- Current Prize Bond withholding tax is 15% for filers and 30% for non-filers.
Is PB-1 Still the Prize Bond Claim Form?
For a current claim, do not assume that an old reference to PB-1 is still the form you should use.
The State Bank of Pakistan’s current National Prize Bonds forms page shows three main entries:
| Form | Current stated purpose |
|---|---|
| National Prize Bonds Application Form | Purchase or encashment |
| PB-1-A | Face-value payment of mutilated/defaced Prize Bonds |
| PB-23 | Prize Money Claim Application Form |
This makes PB-23 the important form for an ordinary prize-money claim through SBP BSC.
There is some older material still accessible online. National Savings’ public forms section, for example, continues to display separate entries for payment of prizes not exceeding Rs.1,000 and PB-23A, PB-23B and PB-23C forms for different categories of claims.
That is exactly why claimants should use the form linked from the current SBP National Prize Bonds forms page or obtain the prescribed form directly from the office accepting the claim rather than downloading an old copy from an unrelated website.
What Is Required for a Prize Bond Claim?
The current SBP PB-23 form contains a clear checklist. For an ordinary National Prize Bond prize claim, prepare:
- Original winning Prize Bond
- Photocopy of the winning Prize Bond
- Photocopy of a valid CNIC/SNIC, with the original available for verification where required
- Two signatures on the reverse of the original Prize Bond
- Two signatures on the reverse of the Prize Bond photocopy
- A properly completed PB-23 Prize Money Claim Application Form
- Bank-account information where the payment is to be made through bank credit
The PB-23 form also asks for claimant information such as name as shown on CNIC, CNIC number, CNIC expiry date, taxpayer status and contact number. Bond details include the series and serial number, date of issue, draw number, place of issue and prize amount.
Check the form carefully before submitting it. A wrong bond number, draw number or other material detail can delay processing.
How to Complete the PB-23 Claim Form
Start with your personal information exactly as it appears on your CNIC. Do not use a shortened or different version of your name if it does not match your identification document.
Next, enter the details of each winning bond. PB-23 provides space for multiple Prize Bonds and asks for information including the bond series, serial number, date of issue, draw number, place of issue and prize amount.
The form also asks whether the claimant is a filer or non-filer. Filer status relates to whether the person appears on the Federal Board of Revenue’s Active Taxpayers List. FBR notes that ATL status provides a lower withholding-tax rate on Prize Bond winnings.
Do not sign the bond casually before checking the current instructions. The SBP PB-23 checklist specifically requires two signatures on the reverse of both the original bond and the copy.
How Long Do You Have to Claim Prize Money?
National Savings currently states that the maximum period for claiming Prize Bond prize money is six years from the date of the relevant draw. It also states that a claim can normally be lodged about three or four working days after the draw.
For example, if a winning draw was held on 15 August 2026, the six-year period is counted from that draw date, not from the date on which you later discovered that the bond had won.
There is little benefit in waiting. Once you verify a winning number against the official result, prepare the required documents and submit the claim through an authorized channel.
You can read the separate Prize Bond claim period guide for more detail on calculating the deadline.
Where Can You Submit a Prize Bond Claim?
This is an area where older official web material can be confusing.
The National Savings FAQ still states that prize money up to Rs.1,250 may be claimed through a National Savings Centre, authorized scheduled bank or SBP branch, while prizes above Rs.1,250 are claimed through State Bank branches.
However, SBP issued a later procedure allowing designated commercial-bank branches to receive Prize Bond claims up to Rs.500,000 from individual customers who maintain accounts with those banks. The procedure states that prize money and face value are credited to the claimant’s bank account.
SBP followed this with a June 12, 2020 circular directing authorized commercial banks to improve compliance with the Prize Bond payment facility.
In simple terms
For a current claim, SBP BSC remains the clearest official claim channel, while eligible claims may also be accepted by designated commercial-bank branches under the SBP procedure.
Do not assume that every branch of every bank handles Prize Bond claims. Confirm that the particular branch participates before visiting.
How Is Prize Money Paid?
The current PB-23 form provides both cash and bank-credit payment fields.
The form shows cash or bank credit for prize amounts up to Rs.18,500 and requires bank credit for Rs.93,000 and above. It requests the bank name, account title, account type and IBAN when bank credit is used.
For claims lodged through designated commercial banks under the SBP procedure, payment is made directly to the claimant’s account maintained with that bank.
Use an account held in your own name where the applicable procedure requires it.
Prize Bond Tax on a Claim
Tax is deducted from the prize money, not simply because you encash a normal Prize Bond at its face value.
National Savings currently publishes these Prize Bond prize-money withholding rates:
| Taxpayer status | Current tax rate |
|---|---|
| Filer | 15% |
| Non-filer | 30% |
The deduction is normally made at source when the prize is paid. Your status on the Active Taxpayers List can therefore materially affect the net amount received.
For calculations, use the separate Prize Bond tax calculator or read the detailed Prize Bond tax guide.
Is the Bond Eligible to Win Before You File a Claim?
A winning number alone is not enough if the bond was not eligible for that draw.
National Savings currently states that Prize Bonds must have been issued at least 60 days before the draw to be entitled to a prize.
The date of issue is therefore relevant when the claim is checked.
Also verify the number against an official draw record before submitting valuable original documents. PrizeBondList.pk can help you search results, but the official National Savings or SBP draw record should be used for final confirmation.
What If the Winning Bond Is Damaged?
Do not treat a damaged bond exactly like an ordinary claim.
National Savings states that prize money on a damaged bond can be claimed subject to clearance under the applicable rules.
SBP also publishes PB-1-A, specifically described as the application for payment of the face value of mutilated or defaced Prize Bonds. That is different from PB-23, which is the prize-money claim application.
If a winning bond is torn, burnt, heavily marked or otherwise damaged, take it to an authorized SBP BSC office rather than attempting to repair, laminate or alter it yourself.
PB-23 Does Not Apply to Premium Prize Bond Winnings
Do not confuse ordinary bearer National Prize Bonds with registered Premium Prize Bonds.
National Savings currently offers registered Premium Prize Bonds in Rs.25,000 and Rs.40,000 denominations. Their prize money and profit are credited directly to the investor’s registered bank account, and National Savings states that no application form is required for claiming Premium Prize Bond prize money or profit.
So a search for PB-1 and claim requirements normally relates to traditional National Prize Bond procedures, not the registered Premium Prize Bond payment system.
Common Claim Mistakes to Avoid
Check these points before submitting the original bond:
- Using an old PB-1 or other outdated form without checking the current SBP form page
- Forgetting the Prize Bond photocopy
- Submitting an expired or unclear CNIC copy
- Missing the required signatures on the original bond or its copy
- Entering the wrong bond number or draw number
- Assuming every commercial-bank branch accepts Prize Bond claims
- Waiting close to the six-year claim deadline
- Confusing PB-1-A for damaged bond face value with PB-23 for prize money
- Trying to file PB-23 for a registered Premium Prize Bond whose prize is credited automatically
A few minutes spent checking the paperwork can prevent a wasted visit.
Before You Submit Your Claim
The main point for anyone searching PB-1 and claim requirements is simple: do not rely on an old PB-1 reference as the current general Prize Bond prize-money claim procedure. The State Bank of Pakistan currently lists PB-23 as its Prize Money Claim Application Form.
Prepare the original winning Prize Bond, a copy of the bond, valid CNIC documentation and the required signatures. Confirm the winning number, make sure the bond was eligible for the draw and submit the claim within six years. For a large or unusual claim, check the latest instructions directly with SBP BSC before handing over the original 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 PB-1 still used to claim Prize Bond prize money?
The current State Bank of Pakistan National Prize Bonds forms page does not list PB-1 as the standard prize-money claim form. It lists PB-23 as the Prize Money Claim Application Form. If an older page tells you to submit PB-1, check the current SBP form before proceeding.
What documents are required with PB-23?
SBP’s PB-23 checklist requires the original and copy of the winning Prize Bond, a photocopy of a valid CNIC/SNIC and two signatures on the reverse of both the original bond and its copy. The form also asks for claimant, draw and bond information.
Can I claim Prize Bond money at a commercial bank?
SBP’s commercial-bank procedure allows designated bank branches to receive claims up to Rs.500,000 from individual customers who maintain accounts with the bank. Not every branch necessarily provides the service, so confirm with the branch before visiting.
How many years do I have to submit a claim?
National Savings currently states that Prize Bond prize money can be claimed for up to six years from the date of the relevant draw. Claims can normally start a few working days after the draw. Do not calculate the deadline from the day you discovered the winning bond.
What is PB-1-A?
PB-1-A is listed by the State Bank of Pakistan as an application for payment of the face value of mutilated or defaced Prize Bonds. It should not be confused with PB-23, which is the current SBP Prize Money Claim Application Form.
Do Premium Prize Bond winners need PB-23?
No. National Savings states that registered Rs.25,000 and Rs.40,000 Premium Prize Bond prize money is credited directly to the investor’s registered bank account and no claim application form is required for the prize payment.
Is tax deducted when Prize Bond money is claimed?
Yes. National Savings currently states that Prize Bond prize money is subject to withholding tax at 15% for filers and 30% for non-filers. Tax applies to the prize amount; ordinary encashment of the bond’s face value is a separate transaction.