CITY OF SAN FERNANDO, Pampanga, Dec. 5 (PIA) -- Bureau of Treasury (BTr) urged Central Luzon residents to start investing through its latest offering of the Premyo Bonds.
BTr Central Luzon Regional Director Irene Jonson said this newest investment product is an investment security which is essentially risk free since it is issued by the Republic of the Philippines.
"Only a minimum of PhP500 is required for an individual to start investing. This provides an annual interest rate of 3% which provides higher yield than time deposits. Aside from the annual interest, investors are also entitled to one raffle entry for every PhP500 worth of investment," Jonson said.
The director said that there will be 61 winners every quarter.
"Fifty individuals will win PhP10,000 each; 10 individuals will win PhP 100,000 each, and one winner will win PhP1 million," she said.
Aside from the cash prizes, winners of PhP1 million in the four quarters will also get the chance to win a condominium unit or a house and lot, according to BTr.
To avail of the Premyo Bonds, interested individuals may purchase from Land Bank of the Philippines, Development Bank of the Philippines, China Bank, Banco de Oro, Philippine National Bank and Metro Bank.
They may also purchase the bonds online at www.treasury.gov.ph. These can be purchased until December 13, 2019, and will be issued on December 18, 2019. They have one-year maturity.
Premyo Bonds is conceptualized to help raise funds for housing, education, healthcare and social services. (CLJD/MJSC-PIA 3)