Rs1,500 prize bond draw set for August 17 with Rs3 million top prize

The National Savings Centre in Faisalabad will conduct Draw No 107 for bondholders across Pakistan.

The draw is expected to attract attention from prize bond holders hoping to secure one of the major cash prizes. The complete winners list will be released after the official results are announced.

Rs3 million top prize awaits winner

Under the State Bank of Pakistan policy, one winner will receive the first prize of Rs3 million. Three second prizes of Rs1 million each will also be awarded in the draw.

A total of 1,696 third prizes will be given to successful bondholders. Each third-prize winner will receive Rs18,500.

Prize bonds remain popular

Prize bonds can be purchased by Pakistani citizens through commercial banks and National Savings Centres across the country. Their popularity comes partly from the fact that the original amount remains secure and can be encashed at face value without deductions.

The bonds also give holders a chance to win cash prizes while keeping the principal amount protected. This makes them an attractive option for people looking for a low-risk form of saving.

Prize money will face tax

Prize winnings will be subject to withholding tax during the 2026 tax year. Filers listed on the Active Taxpayers List will pay 15 per cent, while non-filers will face a 30 per cent tax.

Under Section 156 of the Income Tax Ordinance, 2001, the tax on prize winnings is treated as final. It cannot be refunded or adjusted against other taxable income.

The Rs1,500 prize bond draw offers a major financial opportunity, especially for the winner of the Rs3 million first prize. However, winners should remember that tax will reduce the amount they actually receive.

The large number of third prizes also means many smaller rewards are available. Bondholders should check the official results carefully after the draw to see whether their bond numbers have won.

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