How to Claim a Prize Bond Prize in 2026: Documents, Offices and Tax
Published
If your bearer prize bond has won, the prize does not come to you. You claim it, in person, with the bond. This guide covers the bearer bonds in circulation (Rs 100, 200, 750 and 1,500). Premium Prize Bonds work differently and are covered at the end.
Almost everything below comes from the State Bank of Pakistan's FAQ on National Prize Bonds, published by SBP Banking Services Corporation (SBP BSC), which runs prize bonds as the agent of National Savings.
Before you go
- Confirm the win on the official list. National Savings publishes the result the day after the draw on savings.gov.pk. Lists passed around on WhatsApp or by dealers are not official; SBP's FAQ says lists held by brokers are not authenticated. Our draw pages carry the official lists.
- Wait two working days. SBP says a claim can usually be lodged two working days after the draw.
- Check the six year limit. You have six years from the draw to claim. If your bond won in two draws, lodge both claims together.
- Have a bank account in your own name. Prize money is paid into an account, and SBP asks for a conventional bank account. It lists an Islamic bank account as one of the reasons a claim is objected to.
- Check your filer status. Tax is taken when the prize is paid, at 15 or 30 percent. More on this below.
Where to claim
SBP's FAQ sets out who can pay which prize:
| Prize | SBP BSC office | Authorised bank branch | National Savings Centre |
|---|---|---|---|
| Up to Rs 1,250 | Yes | Yes | Yes |
| Up to Rs 500,000 | Yes | Yes | No |
| Above Rs 500,000 | Yes | No | No |
Banks may add their own service charges and cash in transit charges. SBP's claim form itself is free.
Sources disagree on one point. The National Savings FAQs still say prizes above Rs 1,250 can be claimed only at SBP branches. If your prize is above Rs 1,250 and you want to avoid a wasted trip, an SBP BSC office is the safe choice, or call the bank branch first.
SBP BSC has 16 offices in 15 cities: Karachi, Hyderabad, Sukkur, Quetta, Lahore, Faisalabad, Gujranwala, Bahawalpur, Sialkot, Multan, Dera Ismail Khan, Peshawar, Islamabad, Rawalpindi and Muzaffarabad.
What to take
- The claim form. It is the Prize Money Claim Application Form, known as PB 23. It is free at SBP BSC counters and on SBP's site (English PB 23 form). Fill it in and sign it.
- A copy of your valid CNIC.
- The original winning bond, signed by you on the back.
- A photocopy of the bond, also signed on the back. The copy must match the original.
- Your bank details: bank name, account title and the 24 digit IBAN.
Sign the same way you signed your CNIC. SBP says it may ask for repeated signatures if they differ, to identify the claimant properly.
The usual reasons a claim is held up
SBP lists these objections:
- a missing signature on the back of the bond, the photocopy or the form;
- an invalid bond;
- a photocopy that does not match the original;
- a wrong account title;
- a wrong IBAN;
- an Islamic bank account.
Every one of them is avoidable. Check the form against your bank's details before you go.
How you are paid, and how long it takes
The bond is not given back. SBP's FAQ says the face value of the bond is credited to your account along with the prize, so you are not left out of pocket for the bond itself.
SBP gives these settlement times:
| Prize | Time to pay |
|---|---|
| Up to Rs 18,500 | Same day in cash, or next day by direct credit |
| Up to Rs 1,000,000 | 5 working days |
| Above Rs 1,000,000 | 15 working days |
The wait for larger prizes is mostly a genuineness check: SBP sends the bond to the Pakistan Security Printing Corporation, which prints all prize bonds, to confirm it is real. Note that the claim form only offers cash for small prizes; larger prizes go to your account.
The tax
Tax is deducted under section 156 of the Income Tax Ordinance 2001 before the money reaches you. SBP's FAQ gives the rates as 15 percent for filers and 30 percent for people not on the Active Taxpayer List, "irrespective of the date of draw", and says being a taxpayer does not exempt you from the deduction. The same rates appear on FBR's withholding tax rate card.
What matters is your status on the day the prize is paid. On a Rs 750 second prize of Rs 500,000, a filer receives Rs 425,000 and a non filer Rs 350,000. If you are not a filer and the prize is large, it can pay to file first and claim afterwards, even with the Rs 25,000 surcharge for filing late. Our tax guide shows where the line falls, and the tax calculator works it out for your prize.
Check your status before you go: send ATL, a space and your 13 digit CNIC to 9966, or use FBR's Active Taxpayer status page. Keep the paperwork from the claim. The prize and the tax deducted belong in your next income tax return.
Claiming for someone else, or from abroad
SBP's FAQ says the bondholder should claim the prize, and that payment through an authorised person depends on the discretion of the SBP BSC office. The form asks for an account held in the claimant's own name. If you are abroad, or claiming for an elderly parent, call the SBP BSC office first and ask what it will accept. We found no formal route for claiming a bearer bond prize from outside Pakistan.
Damaged bonds
A damaged bond can still win. SBP says a prize on a damaged bond can be claimed, subject to clearance under the rules. Under the Prize Bond Refund Rules 1963, a bond is considered if more than half of it is presented and it has not been deliberately cut or tampered with. Bring every piece you have.
Premium Prize Bonds
If you hold a Premium Prize Bond of Rs 25,000 or Rs 40,000, there is nothing to claim. National Savings says prizes and profit are credited straight to the bank account linked to the bond. The same 15 or 30 percent tax applies, so get your filer status in order before the draw. See our premium and bearer comparison.
A last word on selling a winning bond
Some dealers offer to buy winning bonds, sometimes for more than the prize. SBP's FAQ says plainly that the prize should be claimed by the bondholder and that brokers are not authorised to deal in prize bonds. Claim it yourself. Our guide to buying and selling special number bonds explains why winning bonds attract the wrong buyers.
If you want your return filed before you claim, Axiom Square files salaried returns for a flat Rs 5,000 and confirms your Active Taxpayer List status afterwards.
Axiom Bonds is not affiliated with the State Bank of Pakistan or National Savings. Procedures change; confirm with an SBP BSC office before you travel.
Questions people ask
Where can I claim a prize bond prize?
Prizes up to Rs 1,250 can be claimed at an SBP BSC office, an authorised bank branch or a National Savings Centre. Up to Rs 500,000 at an SBP BSC office or an authorised bank branch. Above Rs 500,000 only at an SBP BSC office.
What documents do I need to claim a prize bond prize?
The free claim form, a copy of your valid CNIC, the original winning bond signed on the back, a copy of the bond also signed on the back, and the title and 24 digit IBAN of a conventional bank account in your name.
How long does it take to get the prize money?
SBP says up to Rs 18,500 is paid the same day in cash or the next day by bank credit, up to Rs 1,000,000 in 5 working days, and above that in 15 working days.
Can I claim with an Islamic bank account?
SBP lists an Islamic bank account as a reason a claim is objected to, and asks for a conventional bank account. Check with the office before you go if you only have an Islamic account.
How much tax is taken from the prize?
15 percent if your name is on FBR's Active Taxpayer List when the prize is paid, and 30 percent if not.
Do I need to claim a Premium Prize Bond prize?
No. Premium prizes are credited to the bank account linked to the bond automatically.