Won a Prize Bond? Mubarak ho. The next step is not difficult, but you should complete the claim correctly because a Prize Bond is a financial instrument and even a small mistake in the form, CNIC details or signatures can delay payment.
For ordinary bearer Prize Bonds, you normally need the original winning bond, a valid CNIC/SNIC, a photocopy of the bond and the prescribed Prize Money Claim Application Form. The current State Bank form is PB-23. National Savings says a prize claim can usually be lodged a few working days after the draw and must be made within six years from the date of the relevant draw.
First verify your winning number, keep the original bond safe, complete the official claim form, attach the required CNIC and bond copies, and submit the claim at the appropriate authorized office. Tax is deducted before payment. Premium Prize Bonds follow a different process because their prize money is normally credited directly to the registered investor’s bank account.
Before You Claim Your Prize
Before filling any form, make sure you are checking the correct result. A six-digit number may appear in thousands of historical draws, so confirm the denomination, draw number, draw date and winning number together.
For example, if you have an Rs.1,500 bond, don’t rely only on seeing the same number somewhere online. Open the exact Rs.1,500 draw result and check whether your bond appears under the First, Second or Third Prize list. National Savings publishes official draw lists, and BondResult.com can make those lists easier to search.
Use the Prize Bond Checker first. If a match appears, open that draw’s full result and compare the number again with the official National Savings result before starting a financial claim.
There is another point many people miss. National Savings says a bond must have been issued at least 60 days before the draw date to be entitled to participate in that draw.
Documents Required to Claim a Prize Bond
The current National Savings guidance and SBP’s PB-23 form require the winning bond holder to provide the original bond and identity documents. SBP’s current claim form also asks for two signatures on the reverse side of both the original bond and its photocopy.
| Required item | What you should prepare |
|---|---|
| Prize Money Claim Form | Official PB-23 claim form |
| Original winning Prize Bond | Keep it safe and do not damage it |
| Photocopy of Prize Bond | Sign the reverse as required |
| Valid CNIC/SNIC copy | Bring the original CNIC/SNIC as well |
| Signatures | SBP form asks for two signatures on the reverse of the original and photocopy |
| Bank account details | Required where payment is to be credited to a bank account |
The PB-23 form records the claimant’s name, CNIC number, taxpayer status, contact details, draw number, bond details, prize amount and payment information. For bank-credit payments, the form also contains fields for the bank name, account title and IBAN.
A useful small detail: National Savings says there is no charge for the prize money claim form.
Prize Bond Claim Process Step by Step
- Verify the winning bond. Check the denomination, six-digit number, draw number and draw date against the relevant result. Do not rely on a screenshot forwarded on WhatsApp or Facebook.
- Download or obtain the official claim form. For ordinary National Prize Bonds, SBP currently provides the Prize Money Claim Application Form PB-23 on its official website.
- Prepare the original bond and documents. Keep the original winning Prize Bond, its photocopy and your valid CNIC/SNIC ready. Complete the form carefully and sign the bond and photocopy according to the form instructions.
- Submit the claim at the appropriate authorized office. The amount of the prize affects where you can submit the claim. Follow the current National Savings/SBP guidance explained below.
- Let the office verify the claim. The bond and claimant information are checked before payment. Your filer/non-filer status is also relevant because withholding tax is deducted from the prize money.
- Receive the prize after tax deduction. Depending on the amount and applicable process, payment may be made according to the current SBP payment arrangements shown on the claim form.
Where Can Prize Bond Prize Money Be Claimed?
This is one area where you should follow the latest official instruction, because older SBP documents available online show different historical payment limits.
The current National Savings FAQ states that prize money up to Rs.1,250 can be claimed from a National Savings Centre, an authorized scheduled bank branch or a State Bank of Pakistan branch. It states that prize money above Rs.1,250 is to be claimed from branches of the State Bank of Pakistan.
That means the safest approach for a larger winning amount is to use an SBP Banking Services Corporation office and the current PB-23 claim form.
SBP maintains its official Prize Bond forms online, including PB-23 for prize-money claims and a separate form for mutilated or defaced bonds.
Because procedures and authorized payment arrangements can be updated, it is sensible to check the latest SBP or National Savings instructions before travelling, especially if you live far from an SBP BSC office.
Prize Bond Tax Deduction
Prize Bond winnings are subject to withholding tax.
National Savings currently states:
| Tax status | Current withholding tax |
|---|---|
| ATL / Filer | 15% |
| Non-Filer / not on ATL | 30% |
The deduction is made from the prize amount at the time of payment.
Your tax status therefore makes a noticeable difference, especially on a First or Second Prize.
Before visiting the claim office, you can estimate your deduction with the Prize Bond Tax Calculator.
How Much Money Will You Receive After Tax?
Suppose you win Rs.1,000,000.
| Status | Gross Prize | Tax | Estimated Net Prize |
|---|---|---|---|
| ATL/Filer | Rs.1,000,000 | Rs.150,000 | Rs.850,000 |
| Non-Filer | Rs.1,000,000 | Rs.300,000 | Rs.700,000 |
So two people winning the same prize can receive very different net amounts because of their tax status.
These examples use the currently published 15% and 30% withholding rates. Always check the rate applicable at the actual time of payment because tax rules may change through future Finance Acts or official notifications.
Premium Prize Bond Claim Process
Rs.25,000 and Rs.40,000 Premium Prize Bonds work differently from ordinary bearer Prize Bonds.
Premium Prize Bonds are registered in the investor’s name. National Savings states that both prize money and profit are credited directly to the investor’s registered bank account, and no separate application form is required to claim the prize money or profit.
This is one of the main advantages of the registered Premium Bond system. You do not normally need to carry the winning instrument to an office simply to lodge a prize-money claim.
However, your registered information needs to be correct. Premium Prize Bond records use the investor’s identity and bank-account details, including the IBAN information supplied when the bond is purchased or updated. National Savings also confirms that withholding tax applies to Premium Prize Bond prize money and profit.
If a Premium Prize Bond is lost, the situation is also different from an ordinary bearer bond. SBP provides a specific PPB-7 lost Premium Prize Bond form, and its official FAQ describes a reporting and verification process for a lost registered Premium Bond.
Prize Bond Claim Time Limit
Do not put a winning bond in a drawer and forget about it.
National Savings currently states that the maximum time allowed to claim prize money is six years from the date of the relevant draw. It also says a claim can normally be lodged after the result processing period following the draw, generally a few working days later.
The important date is the draw date, not the date when you personally discovered that the bond had won.
For example, if you check an old bundle of Prize Bonds today and discover a previous winning number, first check whether the six-year claim window is still open.
A bond winning in two different draws can also involve separate claims tied to the respective draw dates. National Savings states that such claims may be lodged against separate applications within the applicable six-year periods.
What If Your Bond Is Damaged or Lost?
A damaged bond does not automatically mean your money is gone. National Savings says a damaged Prize Bond may be claimed subject to clearance under the applicable rules. SBP also provides an official form for payment of the face value of mutilated or defaced Prize Bonds.
A lost ordinary bearer Prize Bond is more serious. National Savings explains that ordinary Prize Bonds are bearer instruments, similar in this respect to currency: ownership follows possession of the instrument. It therefore says payment cannot simply be stopped because someone reports an ordinary bearer Prize Bond lost.
Premium Prize Bonds are different because they are registered. SBP provides a formal lost-bond procedure for Premium Prize Bonds.
If you maintain a separate article about this subject, link readers to your Lost or Damaged Prize Bond Guide for the detailed procedure.
Common Prize Bond Claim Problems
A few issues can slow down an otherwise genuine claim. The most common are differences between the claimant’s identity/signature and the submitted documents, an expired or unclear CNIC copy, incorrect bond or draw details, damaged instruments that need additional clearance, and misunderstanding one’s ATL tax status.
SBP’s claim form specifically requires claimant information and signatures, while its published claim instructions emphasize that signatures on the bond should correspond with the claimant’s identity documentation.
For Premium Prize Bonds, bank-account information matters because prize money is credited to the registered account. If account or registration details need correction, deal with the issuing/authorized institution rather than assuming the payment has been lost.
The simplest habit is this: verify the result first, check your documents before leaving home, and use the current official form rather than an old copy downloaded from an unknown website.
Official Sources for Prize Bond Claims
For a financial claim, BondResult.com can help you find the winning result, calculate tax and understand the process, but the official rules and claim forms should come from National Savings Pakistan and the State Bank of Pakistan.
The two most useful official references are:
National Savings Prize Bond FAQs
SBP National Prize Bond Forms, including PB-23
If you have just found a winning bond, start with the Prize Bond Checker, confirm the complete draw result, use the Prize Bond Tax Calculator to estimate your net amount, and then follow the latest official claim instructions before submitting your documents.