The National Savings Centre in Karachi is all set to conduct the highly anticipated second draw of the Rs1,500 prize bond for May 2025. This draw, which will take place on May 15, is expected to bring excitement to thousands of hopeful participants looking to claim the jackpot.
Prize bonds remain a popular and secure investment choice in Pakistan, as they offer an opportunity to win big with regular, transparent draws. The May 2025 draw will see a large number of winners across different prize categories.
1500 Prize Bond Winning Amount
The winner of the first prize will take home an impressive Rs3 million. In addition, three second prize winners will each receive Rs1 million. Over 1,600 third prize winners will be awarded Rs18,500 each.
Winners can claim their prizes at designated bank branches or the National Savings offices, ensuring a seamless process to collect their rewards.
First and Second Prize Winners of February 2025 Draw
In the previous draw, the first prize of Rs3 million was won by the holder of prize bond number 402432. The second prize winners were prize bond numbers 543452, 764165, and 814653, with each receiving Rs1 million.
Tax Implications for Prize Bond Winners
This year has seen a significant change in the tax structure for prize bond winnings. Tax filers will now be subject to a 15% tax on their prize earnings, while non-filers will face a 30% tax rate. This update will impact the total amount received by winners.
For example, the winner of the first prize of Rs3 million will be taxed Rs450,000 if they are a tax filer, while non-filers will be taxed Rs900,000. Second prize winners of Rs1 million will pay Rs150,000 in taxes if they are tax filers, and Rs300,000 if they are non-filers. For third prize winners, the tax on Rs18,500 will amount to Rs2,775 for tax filers and Rs5,550 for non-filers.
These changes in the tax system reflect the ongoing effort to differentiate tax obligations based on the filer status, with tax filers benefiting from a lower rate.
