Karachi: The State Bank of Pakistan (SBP) has once again extended the deadline for the encashment and exchange of prize bonds of denominations PKR 7,500, 15,000, 25,000, and 40,000, news sources reported on January 18.
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The SBP has now allowed the prize bond holders of the above-mentioned denominations to withdraw, exchange or encash by June 30, 2023. In this regard, the SBP has issued an SRO directing all commercial banks to accept and exchange bonds until the designated date. The SBP has also highlighted the options available to the prize bond holders which are as follows:
- Encashment at Face Value
- Conversion to Premium Prize Bonds of PKR 25,000 and/or PKR 40,000 (registered)
- Replacement with Special Savings Certificates (SSC) or Defense Savings Certificates (DSC)
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The SBP has urged the public to get their prize bonds exchanged before the expiry date.