The Ministry of Finance is launching a new edition of the Tezaur programme on Monday, allowing Romanians to invest in government securities with maturities of one, three and five years and annual tax-free interest rates of 6.50%, 7% and 7.50%, respectively.
The issue will run from October 5 to November 6 2026.
The government securities have a nominal value of 1 leu and are issued in dematerialised form.
According to the Ministry of Finance, the securities can be purchased as follows: between October 5 and November 4 2026 via the Ghiseul.ro platform, and between October 5 and November 6 2026 online, exclusively by individuals registered with the Private Virtual Space (SPV) for securities issued through State Treasury units.
They can also be purchased between October 5 and November 6 2026 from State Treasury unit offices; between October 5 and November 5 2026 in urban areas; and between October 5 and November 4 2026 in rural areas through the postal sub-units of Romanian Post (CN Posta Romana SA).
The Ministry of Finance notes that income earned from investing in government securities issued by the Ministry of Finance is tax-free.
Interest is paid annually on the payment dates specified in the issue prospectus. Government securities issued under the TEZAUR Programme are also transferable and may be redeemed early. In addition, investors may make one or more subscriptions during an issue. Investors may cancel subscriptions already made only during the subscription period, by submitting a request.
In March 2025, the Ministry of Finance launched the first edition in which Romanian citizens with an account on the Ghiseul.ro platform and a debit card were able to purchase government securities online.
To provide investors with a fully digital and efficient experience, the Ministry of Finance has prepared a guide on transferring funds from the Tezaur subscription account back into the investor's personal bank account.
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