is prize bond going to close The Prize Bond draw usually takes place every week - Prize bonddraw Prize Bonds of Rs. 40000, Rs. 25000, Rs. 15000 and Rs. 7500 till 31st December, 2024 Is Prize Bond Going to Close? Understanding the Current Status and Future of Prize Bonds

BbPrize bondresult The question of whether prize bonds are going to close is a pertinent one for many investors佛历2562年6月26日—The State Bank of Pakistan (SBP) in a circular issued on Tuesday directed all commercial banks tostop selling Rs40,000 prize bonds from June 24 onwards.. Recent announcements from both Bangladesh Bank and the State Bank of Pakistan (SBP) indicate significant changes in the landscape of prize bond offerings, with some denominations being discontinued and sales being halted. This article will delve into the details of these changes, providing insight into the current status and future of prize bonds in the regions affected.

Bangladesh Bank's Move to Halt Services

Bangladesh Bank has made a decisive move to discontinue several government retail services offered to the public, including the sale of savings certificates and prize bonds佛历2562年6月26日—The State Bank of Pakistan (SBP) in a circular issued on Tuesday directed all commercial banks tostop selling Rs40,000 prize bonds from June 24 onwards.. This decision, which impacts the availability of these financial products, signifies a shift in how these services are managed.Prize Bond Draws are held every Second week, normally on the 1st working day of the month, and the mid of month. Every denomination draw is held quarterly. Q. The bank has stated that after November 30th, specific counters handling these services will close, and cash will no longer be accepted for certain savings certificates. This action by Bangladesh Bank is a key factor in understanding the current status of prize bonds within its jurisdiction. The intention behind these changes appears to be a streamlining of financial operations.

Pakistan's Stricter Deadlines for Prize Bond Redemption

In Pakistan, the State Bank of Pakistan (SBP) has been actively announcing deadlines for the redemption of various denominations of National Prize Bonds. Multiple extensions since 2021 highlight the urgency with which the SBP is encouraging individuals to encash their holdings. For instance, the SBP sets December 31 as the deadline for prize bond redemption for certain series. Reports indicate that "\u200bonly four days remain for individuals to return their prize bonds" at specific junctures, underscoring the finite nature of these opportunitiesDec 31 last date for encashment of withdrawn National ....

The SBP had previously announced the discontinuation of certain prize bond denominations.Prize Bond Draws are held every Second week, normally on the 1st working day of the month, and the mid of month. Every denomination draw is held quarterly. Q. The State Bank discontinues Rs40,000 prize bonds from June 24 onwards, a decision that signaled a move away from higher-value prize bonds. Further emphasis on these deadlines is seen with statements like "December 31, 2024" being repeatedly cited as a crucial date for encashment. Therefore, to answer is prize bond going to close, in Pakistan, specific older denominations are indeed closing or have closed, with a strong push for present holders to redeem them by the December 31, 2024 deadline. The State Bank of Pakistan also issued a reminder stating that "all commercial banks are advised to surrender the cited prize bonds to the respective SBP BSC office no later than January 31, 2025佛历2568年11月17日—The Bangladesh Bank (BB) will discontinue five services, including the sale of national savings certificates andprize bonds, ...." This reinforces the comprehensive nature of the redemption processGovernment of Pakistan has extended the last date for ....

Specific Denominations and Their Status

The Pakistani government has been explicit about which denominations are affected佛历2567年10月4日—The Government of Pakistan extended the last date for encashment, conversion or replacement of withdrawnprize bondsof Rs40,000, Rs25,000, Rs15,000 and Rs7, .... For example, "Prize Bonds of Rs佛历2567年12月27日—According to reports, a SBP spokesperson announced that the deadline for returning Rs25,000 and Rs40,000prize bondsis December 31. The .... 40000, Rs. 25000, Rs.State Bank discontinues Rs40,000 prize bonds - Business 15000 and Rs佛历2565年11月2日—...prize bondholders could not get their bonds redeemed a final opportunity has been given for encashment ofprize bondstill 30th June 2023.. 7500 till 31st December, 2024" are subject to these redemption deadlines.Bangladesh Bank to halt sale of savings certificates, prize ... This means that while new sales of some of these might have ceased earlier, the window for encashment is closing. Previously, "the federal government has decided to discontinue Rs25,000 denomination prize bonds," and similar measures were taken for other values, with "Rs 15,000 bonds will no longer be cashable after June 30" and "Rs7,500 bonds can only be encashed till December 31.State Bank discontinues Rs40,000 prize bonds - Business"

Prize Bond Draws and Results

Despite the discontinuation of sales and the emphasis on redemption for certain series, Prize Bond draws and results continue to be of interest. Information regarding Prize Bond Draws are held every Second week, and schedules for upcoming draws, such as the Prize Bond Schedule 2026, are still publishedState Bank discontinues Rs40,000 prize bonds - Business. For those holding eligible or recent prize bonds, checking BbPrize bond result or Bangladesh Bank Prize bond result might still be relevant depending on the specific regulations in their region. The Prize Bond Tracker, however, is scheduled to be removed at the end of April 2024, indicating a phasing out of certain tracking services. It is worth noting that some international entities, like NS&I, are adjusting their Premium Bond prize-fund rate, signaling a global trend of re-evaluating such savings products.

Understanding Prize Bonds

A Prize Bond is essentially a lottery bond; it's a non-interest-bearing security. In essence, a Prize Bond offers holders a chance to win prizes through periodic draws rather than fixed interest. For individuals in Pakistan, understanding the tax implications is also crucial, as the "Rate of Tax is 15% of prize value for Filers, and 35% of prize value for Non-Filers佛历2568年11月17日—The Bangladesh Bank (BB) will discontinue five services, including the sale of national savings certificates andprize bonds, ...." It's important to distinguish these from other savings products, as the core mechanism involves chance rather than guaranteed returns.佛历2567年12月27日—Multiple extensions since 2021 highlight urgency asSBP sets December 31 as the deadline for prize bond redemption.

In conclusion, the landscape of prize bonds is indeed evolving. While Bangladesh Bank is discontinuing their sale, Pakistan is implementing strict deadlines for the redemption of older, discontinued denominations. Investors holding prize bonds should stay informed about the specific regulations and deadlines applicable to their holdings to ensure they can encash their investments within the stipulated timeframes. The concept of prize bonds as a lottery-style investment, however, continues, with draws still being held for currently valid instruments.Prize Bonds of Rs. 40000, Rs. 25000, Rs. 15000 and Rs. 7500 till 31st December, 2024. These bonds can be encashed or exchanged at State Bank ...