How to Get Your Prize Money Directly in Your Bank Account

Prize bond money

National Prize Bonds are issued by government of Pakistan in eight different denominations. On one hand these are a source of domestic borrowing for the government. While on the other hand these provide lucrative returns to the investors in the form of prize bond money. The details of various prize bonds can be seen here.

If you invest in the national prize bonds issued by the government of Pakistan then you are aware of the excitement and reward that you get after your prize bond is declared as prize winning in a draw. However this excitement is subdued when you go through the process of claiming this prize money.

Conventional Method of Claiming Money from your Prize Bond

For prizes below Rs 20,000/-, you go the nearest State Bank of Pakistan Banking Services Corporation office, fill the prize bond money claim form, wait for your turn in the line and get the prize money in cash. In most cases you get the tax certificate on the same day and you are done with the process.

However its an entirely different process when you win a prize above Rs. 20,000/-. The cumbersome process consists of almost five steps detailed below.

  1. You visit the nearest SBP BSC office, fill the prize money claim form including a copy of the prize winning bond, original bond and a copy of your CNIC. You wait in line for your turn and submit you claim at the counter
  2. Once you submit the claim at the counter, you are issued a receipt. The receipt acknowledges your prize money claim and specifies a date for collecting your prize money payment order. As of now, for prize money below one million the date of receipt of payment order is 20 working days from the receipt of claim and for prize money of one million and above this time is 30 working days.
  3. On the due date, you go to SBP office and wait in line to get your payment order
  4. The payment order you get from SBP BSC is to be deposited in your commercial bank account only
  5. Once the payment has been credited to your account, you go back to SBP to get the tax deduction certificate.

Sounds hectic? Trust me, its much more than this when you actually experience it and have to wait an entire month to get your prize money.

How to Get Prize Money in Directly in Your Bank Account

Going forward with digitization, SBP BSC has introduced the direct credit of prize money to the claimant’s account. The direct credit of prize money significantly reduces the time and number of steps involved in getting your prize money from SBP BSC offices.

The form used to claim the prize bond money has been redesigned by SBP BSC and can be downloaded easily.

The newly designed form has a specified portion for filling particulars such as name, CNIC Number, CNIC expiry date, address, contact number email and specify his tax payer status i.e. if the claimant is a filer or non-filer.

The next major change in the prize bond money claim application form is the selection of mode of payment of prize money.

For prizes up to PKR 18,500/-, you can opt for payment of prize money in cash or direct credit to your bank account (bank credit).

If you opt for bank credit, you are issued a receipt at the time of submission of your prize money claim and the money is credited to your bank account on the same day or next working day. However, if you opt for bank credit, your prize winning bond is not returned and the face value of your prize bond is credited to your account along with the prize money.

For prizes above PKR 93,000/- and above the claimant can opt for bank credit or payment order.

If you opt for bank credit, you will have to mention your bank name, branch name, account title and IBAN number. Your IBAN number is printed on your new cheque book. You can also use your bank’s IBAN generation tool on the website to find out your IBAN.

Once you have submitted your prize money claim, SBP BSC will process your prize bond and depending on the mode of payment of prize money you opted for, you will get your winnings as per below timeline:

S.NoAmount of Prize MoneyMaximum Timeline
Direct Credit (Bank Credit)Payment Order
1.Below Rs. 1,000,000/-5 working days from the date of submission of claim20 working days from the date of submission of claim
2.Above Rs. 1,000,000/-15 working days from the date of submission of claim30 working days from the date of submission of claim


It is evident from the above table that SBP BSC has significantly reduced the time for paying prize money if you opt for bank credit.

Additionally, If you opt for bank credit, you will only have to go to submit the prize money claim. The prize money is credited to your bank account within the specified time. You will save the time hassle of waiting lines and manual processing.

The other benefit its that you will be notified via SMS and E-mail regarding your CPR (computerized payment receipt). You can get it from FBR website at your own convenience without going to SBP BSC. If due to some reason, you don’t get the alert, you can collect your CPR/tax deduction certificate from SBP BSC.

Important Points To Keep In Mind

  1. At the time of submitting the claim form, you must mention your conventional bank account number held in your name. This account cannot be joint. Accounts maintained in Islamic banks, operated jointly, corporate accounts, business accounts and trust accounts are not accepted.
  2. Your tax payer status i.e. filer or non-filer is considered by SBP BSC as on the date of payment.
  3. The Withholding Tax on prize money amount is deducted at prevailing rates.
  4. If genuineness of your prize bond is doubtful, it may take a longer time than the one already specified.

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Bilal is a banker, YouTuber and a tech enthusiast. He holds an MBA degree and has over five years of diversified experience in Telecom, auditing and financial services. He has a keen interest in tech coupled with sound knowledge of financial services in Pakistan. His contribution to TechVise Pakistan will be based on his personal experiences as well as detailed knowledge about technology, financial services and online shopping in Pakistan.


  1. sir m saving bank sy prize bonds ly kar aya 1500 waly to m ny list bna li excel m sb ki to m ny saving center ki website sy search kiye nmbrs to mry 3 third prize money nikly hoy thy sb ko takriban 5 years hoy h mtlb m claim kr sakta hn. mgr m pochna chah rha hn k saving center sy ly kar aya hn to kia un ko q nai pta tha k y prize bonds already nikly hoy h? or 2 prize bond asy h mry jo 6 years sy ziafa ho gya time m claim na kar saka to un prize bonds ka kia wo phr m sale kr dn koi faida nai unka?

  2. maximum time for claim your prize money? i have prize bond which is selected for second prize in January 2008 but unfortunately i can’t check at that time, should i claim for prize money or not?

  3. Sir mera 1st price nikla RS7500✓ Draw 69 2017 ka. Claim deposit kiya mainay 17 August 2019 ko direct state bank rwp mai. kab tk expected hay amount?

  4. Salam,
    mere uncle ka inaam nikla hai 7500 wale prize bond ka, woh current Tax filer hain magar woh state bank nah ja sakte na line mein lag sakte hain due to age factor. kya mein un ki information or id card pe jaker form submit or claim ker sakta hon amount.
    aur doosra winning prize Rs. 93,000/= hai before tax deduction to kya cash claim ker sakte hain ya bank credit kerwana parega uncle ke account mein ya apne account mein ker wasakta hon.

    • Agar ap ka naam active tax payer list main mojod hy tu apko bond amount k sath Rs. 17225 aur agar nhe hy tu Rs. 14450 mile gain,

    • Agar ap tax filer hain tu apko bond amount k sath total 290,200 Rupees mile gain. Agar ap tax filer nhe tu apko 243,300 rupees mile gain. (tax rate for filer is 15% and for non filer 30%)

  5. Sir mera bond 1500 wala tha Uss pe bonds wali shop se 16300 mila hai jab k prize 18500 tha aur unho ne bond bhi rakh liya.. Kya yeh Sab theek hai? Mujhe itni info Nai.. Plz ap guide kr dain..

  6. Is this automatically deducted by SBP or I have to pay before SBP remittance to my IBAN mentioned account ?

    ePayments: PSID 33807214 has been created for Rs.27750.00 on Aug 6 2019 1:53PM . Deposit your payment in any authorized branch of NBP/SBP Bank.

    • Assalam o alikum Bilal bahi
      Can you tell me the procedure to get my claim prize money worth Rs500000 also i m a filer.But i have only 7 days because i m overseas

      • The process for bank credit is detailed above. You can submit your prize money claim along with your complete and correct IBAN details (Bank account in Pakistan). You don’t need to go to collect the prize money. Prize money and face value of bond is directly credited to IBAN details provided by you.

  7. Good write.
    Thanks Bilal Sb.

    I wish there was an easier way for claimants. This process sounds ridiculous honestly.

    • Recently, all the payments above 20,000 are being paid by direct credit to bank account of customers and the mode of payment orders has been discontinued. Further, you can also get your prize of any value below 20,000 credited to your bank account if you don’t want to get cash.

  8. I submit the clam form on 12th July 2019, but IBAN i have a mistake. The number after PK is mention wrong. The actual number 39 and mistakenly mention on it is 16.
    All numbera are mention on it is same and the 4 cracktors indicates the bank name is correct and all acc number is correct.
    Now whats can i do for this correction or wait for 15 days too.

    • You should go to the office where you submitted the claim and inform them about the correct account number, otherwise your payment will not be credited to your account.

    • From 1st July, 2019, tax rate on prize won is 15 % for filers (name appearing in active tax payer list) and 30% for non-filers.

  9. As per rules of prize bonds, you can claim your prize up to six years from the date of draw. (aap June 2015 tak ye inaam le sakte the). unfortunately, you can not get the prize money now.

  10. my name is imran, from wah cantt, my saving money is 4 pes of 40,000. Prize bond, i purchase it in 2005 but i ignore this for long time, on that time when govt, say to replacement it on premium or encasement through bank account i check it on draw list i shock it that i win 3rd prize 500,000. on 1 June 2009 draw list but i still cant receive it, plz help me to collect my win prize bond procedure. my cell # 0333-5284970, 3105284970.

    • Aaj kal tu apko prize money aur bond ke value aik sath apk bank account main bhej de jati hy. Payment order pehle banta tha jisk sath bond ke payment alag se dete the. Laken ab sirf bank account k zariye prize money aur bond ke value ke payment hoti hy. Claim karte waqt aap nay apnay bank account ka IBAN number dena hota hy state bank ko.

    • currently filer se 15% aur non-filer se 25% tax deduction hote hy. Agar apka inam 20,000 se kam ho tu apko same day payment mil jati hy. Agar 20,000 se zyada ho tu apko 5-15 working days main payment mil jate hy.

    • Agar apka 100 ya 200 ka small prize (3rd prize) hy tu ap national saving center se le sakte hain. es se zyada amount ka prize ap ny State Bank k offices se lena hoga.

  11. I launched my claim at SBP BSC(BANK) Multan on 8 Apr 2019 but till today prize money not credited in my account. What to do now??


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