FIDELIS: the state launches a new round of government bonds. Interest rates of up to 7.55%

The Ministry of Finance launched on Friday, 3 July, the seventh edition this year of the FIDELIS programme, through which individuals — residents and non-residents alike — aged 18 and over may purchase government securities denominated in Romanian lei and euros. The subscription period closes on 10 July 2026.

The securities may be purchased through the intermediary syndicate comprising BT Capital Partners, Banca Transilvania, Salt Bank, Banca Comercială Română, BRD – Groupe Société Générale, UniCredit Bank, and TradeVille, in collaboration with Libra Bank. The securities are listed on the Bucharest Stock Exchange.

Finance Minister Alexandru Nazare stated: "The FIDELIS results demonstrate that Romanians trust a safe, transparent, and advantageous savings instrument. Nearly 70 billion RON invested in less than six years represents not only a milestone for the programme, but also proof that more and more Romanians are choosing to grow their savings through responsible investment. We will continue to develop this programme and offer competitive terms to investors, whilst at the same time strengthening the financing of the Romanian economy through the capital market."

Interest rates available in this edition

The new edition comprises four issues denominated in lei and three in euros.

For securities denominated in lei, the interest rates are:

• 6.30% – 2-year maturity;
• 7.30% – 2-year maturity, special tranche for blood donors;
• 6.85% – 4-year maturity;
• 7.55% – 10-year maturity.

For securities denominated in euros, the interest rates are:

• 3.90% – 3-year maturity;
• 4.80% – 5-year maturity;
• 6.20% – 10-year maturity.

Benefits for blood donors

As in previous editions, the Ministry of Finance is maintaining the tranche dedicated to blood donors. They benefit from an interest rate of 7.30% on two-year lei-denominated securities, as well as a reduced minimum subscription threshold — lowered from 5,000 RON to just 500 RON — subject to a maximum ceiling of 100,000 RON. The benefit applies to individuals who can demonstrate that they have donated blood on or after 1 February 2026.

According to the Ministry of Finance, since the FIDELIS programme was launched in August 2020, the 37 editions held to date have attracted total investments of 69.8 billion RON, equivalent to approximately 14 billion euros.

In 2026 alone, the value of subscriptions has exceeded 7.7 billion RON. The previous edition, held in June, raised 939.5 million RON, of which 442.7 million RON came through the lei-denominated issues and 95.4 million euros through the euro-denominated ones.

The Ministry of Finance notes that the intermediary banks do not charge any fees for subscriptions, and that interest payments and any capital gains derived from these securities are not subject to taxation.

Those holding FIDELIS securities that have reached maturity may reinvest the proceeds by subscribing to the new issue.