1,500 prize bond draw date and city announced

LAHORE: The National Savings Centre in Lahore is set to hold the first Rs1,500 prize bond draw of 2026, with thousands of citizens hoping to win cash prizes.

The Rs1,500 prize bond draw is scheduled to take place on February 16, 2026, in Lahore.

Under existing rules, all Pakistani citizens are eligible to purchase prize bonds from State Bank of Pakistan Banking Services Corporation (SBP-BSC) offices, authorised branches of commercial banks and National Savings Centres, subject to submitting an application along with a copy of a valid CNIC.

Prize money can be claimed at any SBP-BSC field office, designated commercial bank branch or National Savings Centre after completing the prescribed claim form.

According to the State Bank, the first prize carries a cash award of Rs3 million, while three second prizes of Rs1 million each will also be awarded.

In addition, 1,696 third prizes will be given, with each winner receiving Rs18,500. Under the revised tax policy, prize money is subject to withholding tax based on the winner’s tax-filer status.

Tax filers will face a 15 per cent deduction, while non-filers will be taxed at 30 per cent, resulting in a significantly higher cut for those not registered with the tax authorities.