Tezaur, new edition from 5 October: interest rates of up to 7.50%, tax-exempt

Individuals aged 18 and over may subscribe, from 5 October onwards, to a new series of Tezaur government securities, with maturities of one, three, or five years. The annual interest rates are tax-free and reach up to 7.50%. The subscription period closes no later than 6 November, depending on the chosen method of purchase.

The three available issues

The new series comprises three types of securities, all denominated in Romanian leu:

• securities maturing in 1 year, with an annual interest rate of 6.50%;
• securities maturing in 3 years, with an annual interest rate of 7%;
• securities maturing in 5 years, with an annual interest rate of 7.50%.

The face value of one security is 1 RON. Interest is paid annually, in accordance with the dates set out in the issue prospectus, and any earnings generated are not subject to taxation.

Where the securities can be purchased

Purchases can be made online, at State Treasury counters, or through Poșta Română; however, subscription deadlines vary depending on the channel:

• via Ghișeul.ro: 5 October – 4 November;
• online, via the Private Virtual Space (SPV): 5 October – 5 November;
• at State Treasury branches: 5 October – 6 November;
• at urban Poșta Română offices: 5 October – 5 November;
• at rural post offices: 5 October – 4 November.

Purchasing through Ghișeul.ro is available to Romanian citizens who already have an account on the platform and hold a debit card. This payment option was introduced in March 2025.

Subscription via SPV is available to individuals registered in the system, for issues distributed through the Treasury. Investors can open a subscription account online at their chosen Treasury branch, purchase the securities, and subsequently transfer the funds to their own bank account.

A person may make multiple subscriptions within the same issue, and transactions already completed may only be cancelled during the subscription period by submitting a written request to that effect. According to the Ministry of Finance, the securities are transferable and may also be redeemed prior to maturity.

How to transfer funds to a bank account

To transfer funds from a Tezaur subscription account to a personal bank account, the Electronic Multiple Payment Order (OPME) form must be completed.

The form can be downloaded from the Ministry of Finance website, under the "Tezaur Online" section, and opened using Adobe Acrobat Reader. The investor must enter their personal identification number (CNP) and the IBAN of the account to which they wish to receive the funds.

A commission is deducted from the transferred amount: 0.51 RON for transfers of up to 50,000 RON, and 6 RON for larger amounts. Once completed and validated, the form is saved and submitted via SPV using the "Submit forms" option.

According to the Ministry of Finance, the funds raised through this issue will be used to finance the budget deficit and refinance public debt. The issue prospectus, along with any amendments, will be published on the websites of the Ministry of Finance and Poșta Română.