Thursday, April 22, 2021

Central Luzon folks urged to invest P5K in RTBs

Mar 4, 2021 @ 15:06
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The Bureau of the Treasury (BTr) urged Central Luzon folks to start investing through retail treasury bonds (RTBs), according to the Philippine Information Agency.

In a PIA report, BTr 3 Bulacan OIC-Provincial Head Gerard Michael Caoleng said RTB is a program of the national government, which aims to raise funds for its priority projects, especially during this time of pandemic.

“This is a support to the sectors affected by the pandemic like unemployment, micro small and medium enterprises, and country’s healthcare system; enhancing the country’s response against the pandemic; as well as the various priority projects nationwide,” Caoleng was quoted as saying.

He said the program was launched to encourage the public to start saving and investing, while helping the government generate income.

“This type of investment is affordable, convenient, low-risk, has higher yield than time deposit, negotiable, and transferrable. We call this the default-risk since it is issued by the national government, thus, the risk for one’s return on investment is very, very low,” he said.

“Only a minimum of P5,000 is required for an individual to start investing,” he said.

“This provides an annual interest rate of 2.375 percent and are paid quarterly during its three-year maturity period. The interest rate is automatically credited to your account every quarter, subject to 20 percent withholding tax,” Caoleng added.

Interested individuals may go to any of the 10 banks that are authorized selling agents of the BTr, provided that the individuals have peso accounts in that bank.

These are Development Bank of the Philippines, Land Bank of the Philippines, BDO Capital and Investment Corporation, BPI Capital Corporation, Chinabank Capital, First Metro Investment Corporation, PNB Capital, SB Capital, RCBC Capital Corporation, and Union Bank.

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