Tezaur programme, a classic, secure, tax-free saving instrument for the population

The issuance of treasury bond with the 'Tezaur / Treasury' programme we have launched represents a classic and safe saving instrument for individuals, with a 5 pct interest and free of tax on that interest, on Wednesday night said at the Victoria Palace (gov't seat, ed. n.) Public Finance Minister Eugen Teodorovici. 

'We have launched a T-bond issuance, the first within the <> programme on 2018, and yet the third issuance, because we have to remind that the Public Finance Ministry (MFP) launched this first programme of gov't securities for the population in 2015. Firstly, the goal refers to our being financed as a state (...) The difference from the interest on deposits granted by the banks is huge, more than twice as large, because it is very correct and normal and of common sense for the MFP to give the same interest on deposits to all those who buy T-bonds - individuals or companies,' Teodorovici said. 

'Should the persons interested in T-bonds who have already bought this instrument have second thoughts, they can recover their money until 6 July 2018. The value of the gov't securities purchased by the individuals is worth 100,000 RON from the Treasury and 100,000 RON from the Romanian Post offices, so an overall of 200,000 RON. Very important is the fact that apart from the 5 pct interest on deposit per annum, the 10 pct income tax applied to the bank deposits' interests do not apply in this case. Subscription can be made in cash or bank transfer with zero costs at both subscription and cash withdrawal. The cost we [the state, ed. n.] are to pay for the transactions operated by the Romanian Post is worth 0.1 pct. It is a first very useful instrument for the population, obviously with very many advantages, 5 pct interest rate, no income tax. It is a secure investment,' said the Finance minister. 

According to the source, the ceiling for this programme in 2018 is worth four billion RON. 

The MFP launched on 15 June the first T-bond issuance within the Tezaur / Treasury programme, the Centennial edition, with 1 RON value, 5 pct interest rate and five-year maturity, exclusively dedicated to the population, according to a release by the ministry. The gov't securities could be acquired by the 18+ years old individuals residing in Romania, and the revenues obtained are tax-free. 

An investor may do, during the subscription period, one or several subscriptions within an issuance, but the total cumulated amount of the purchases cannot exceed 100,000 RON for the subscriptions at the State Treasury units and 100,000RON, respectively, at the Romanian Post offices. 

Within the Tezaur / Treasury programme, the Centennial edition of June 2018, the T-bonds cannot be redeemed ahead of their maturity, are non-transferable and cannot be traded.