Romanians can subscribe for new state bonds under Tezaur Programme

Starting on Thursday, Romanians can subscribe for new state bonds to be issued under the Tezaur Programme exclusively for the population, carrying maturities of 1, 2, 3 and 5 years and annual interest rates of 3.5, 4, 4.5 and 5 per cent respectively. The obtained revenues will not be subject to tax, informs the Ministry of Public Finance (MFP). 

The state bonds can be purchased over May 2-31 from the State Treasury units, over May 2-30 through the Post Office network in urban areas, and over May 2-29 in rural areas. 

"Individuals aged 18 on the date of subscription are eligible. The authorities eliminated the cap for individuals who want to invest in the state bonds. Investors have the option to cancel their subscription by submitting a cancellation request in the subscription period," specified the MFP. 

The state bonds are de-materialized and are worth RON 1 each. Interest rates are payable on the dates noted in the issuance prospect. Also, the state bonds issued in the Tezaur Programme are transferable and can be purchased in advance. In case of owner death, the property right is transferred to heirs. 

The state bonds will continue to be issued throughout 2019, with three-week subscription periods every month. Maturities will be established based on the interest shown by investors. 

More than 26,000 Romanians invested in state bonds worth more than 1.4 billion lei in January-April this year. Most subscriptions were made in Bucharest, Prahova County and Arges County.