Retail subscriptions are open between April 1 - 26, 2021 for Tezaur government securities through the operative units of the State Treasury and the Romanian Post offices, the Finance Ministry said in a release.
The securities' annual interest rates are 2.95 percent for one-year securities, 3.35 percent for 3-year securities, and 3.75 percent for 5-year securities.
The securities with the face value of 1 RON are issued in dematerialized form, and the annual interest is payable at the terms provided in the issue prospectus. Government securities issued under the Tezaur Program are transferable and can be redeemed in advance.
Investors can cancel subscriptions only during the subscription period, by submitting an application.
The government securities can be purchased between April 1 and 26 from the State Treasury units, and from post offices between April 1 and 22 for rural areas and between April 1 - 23 in urban areas.
The saving alternative proposed by the Finance Ministry enjoys an increased interest of potential buyers because the derived incomes/gains are non-taxable.
The holders of Tezaur government securities from previous issues that reached maturity may reinvest the amounts left uncollected by subscribing for the government securities launched this April under the Tezaur retail government securities program, the release states.