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 November 9 to December 4, 2026, agerpres reports.
The government securities have a nominal value of one leu each and are issued in dematerialised form.
According to the Ministry of Finance, the securities can be purchased as follows: between November 9 and December 2, 2026 through the Ghiseul.ro platform; and online between November 9 and December 3, 2026, exclusively by individuals registered with the Virtual Private Space (SPV) for securities issued through the State Treasury offices.
They can also be purchased directly from State Treasury offices between November 9 and December 4, 2026, while purchases through the postal sub-units of the Romanian National Post Company (CN Posta Romana SA) are available between 9 November and 3 December 2026 in urban areas and between November 9 and December 2, 2026 in rural areas.
The Ministry of Finance points out that income earned from investments in government securities issued by the ministry is tax-free.
Interest is paid annually on the dates specified in the issue prospectus. In addition, government securities issued under the TEZAUR programme are transferable and can be redeemed before maturity. Investors may also make one or more subscriptions during an issue period. Subscriptions already made may be cancelled by submitting a request, but only during the subscription period.
"Individuals who have reached the age of 18 by the date of subscription are eligible to invest. The funds raised by the Ministry of Finance as issuer through the government securities offering will be used to finance the budget deficit and refinance public debt," the ministry stated.
In March 2025, the Ministry of Finance launched the first edition allowing Romanian citizens with an account on the Ghiseul.ro platform and a debit card to purchase government securities online.
To provide investors with a fully digitalised and efficient experience, the Ministry of Finance has prepared a guide explaining how to transfer funds from a TEZAUR subscription account back into a personal bank account.
