Wed, 20 Jan 2021

Treasury urges CL residents to invest in Premyo Bonds

Philippine Information Agency
19 Nov 2020, 04:38 GMT+10

CITY OF SAN FERNANDO, Pampanga, Nov. 18 (PIA) -- Bureau of the Treasury (BTr) urged Central Luzon residents to start investing through its second offering of the Premyo Bonds (PB-2).

BTr Regional Director Irene Jonson said premyo bonds are designed for retail investors, and is part of the government's efforts to support savings mobilization and financial literacy.

"We hope that by making this program more accessible, more people will become familiar with treasury bonds and begin to realize higher returns on their savings while at the same time giving the government more financing sources to advance our economic agenda," Jonson said.

The director added that this type of investment is generally considered low-risk since it is issued by the national government.

"Only a minimum of PhP500 is required for an individual to start investing. This provides an annual interest rate of 1.25% 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 winners every quarter.

"Small denomination investors with PhP500 to PhP20,000 investments may win special cash rewards amounting to PhP50,000 quarterly. On top of that, 50 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 that, there will also be grand prize winners of PhP3 million, PhP6 million, or two brand-new Toyota Innova, according to BTr.

To avail of the Premyo Bonds, interested individuals may go to authorized selling agent banks including Development Bank of the Philippines, Land Bank of the Philippines, BDO Capital & Investment Corporation, China Bank Capital Corporation, First Metro Investment Corporation, PNB Capital and Investment Corporation, and Union Bank of the Philippines.

"Another way is to invest online thru online through our online ordering facility available to those with China Banking Corporation, Development Bank of the Philippines, First Metro Securities or Land Bank of the Philippines bank accounts; or thru mobile application Bonds.PH. We also have the newest addition, the Overseas Filipino Bank Mobile Banking Application. Just go to our website, click the Premyo Bonds 2 logo, and follow the instruction," Jonson said.

As an additional feature, she said that BTr is also introducing an Exchange Offer program, where bond holders of PB-1 which will mature on December 18, 2020, will be allowed to exchange their holdings for the latest premyo bonds offering, without the need to go through the entire application process.

These can be purchased until December 11, 2020, and will be issued on December 18, 20120. They have one-year maturity.

Premyo Bonds is conceptualized to help fund the country's response to COVID-19 as well as boost the Philippine economy. (CLJD/MJSC-PIA 3)

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