• Retail Treasury Bonds 25
Retail Treasury Bonds #25
Invest your money for 3 years in bonds and earn 2.375% interest per year.
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Minimum Investment

Php 5,000*

Interest Rate
2.375% p.a.**
Interest Payments
Issue and Redemption Price

*Also in integral multiples of Php 5,000

**Subject to 20% final withholding tax except for tax-exempt institutions

Republic of the Philippines through the Bureau of the Treasury (BTr)
Offer PeriodFebruary 9, 2021 to March 4, 2021 or any earlier date as determined by the BTr
Issue DateMarch 9, 2021
Maturity DateMarch 9, 2024

Minimum investment of Php 5,000.

Low Risk Investment

The bond is low risk as it is a direct obligation of the Republic of the Philippines.

Relatively Higher Yield

Yields are higher than time deposits.


Simply use your existing savings or checking account as your settlement account.

Quarterly Interest Payments

Interest is paid out every quarter.

Negotiable and Transferable

Can be bought and sold any banking day, subject to prevailing market rates.

Quick guide

How to invest through BPI Capital

1. Visit any BPI branch during the Public Offer Period and request for the forms to invest in RTB 25. Be sure to bring one (1) valid government-issued I.D.
2. Fill out all the necessary details and submit the complete documentary requirements.
3. Give the cash to be invested to the branch personnel. If it will be debited from your account, please make sure that your account is funded.

Fixed Income Securities
Investment options designed to optimize your returns.
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Frequently asked questions

What are Retail Treasury Bonds (RTB)?

RTBs are medium to long-term debt securities issued by the Republic of the Philippines (“ROP” or “the Republic”) through the Bureau of the Treasury (“BTr”). The RTBs are part of the government’s savings mobilization program designed to make government securities available to retail investors. Hence, the name Retail Treasury Bonds. RTBs are fixed-income securities that pay a fixed interest rate per annum over a specified period of time with a promise to return the principal at the end of the term.

Where do the proceeds of the RTBs go?

The proceeds will be allocated to the country’s emergency, recovery, and resiliency funds. The funds serve to finance its various expenditures focused on:

1. Supporting sectors most affected by the COVID-19 pandemic (i.e., the unemployed, MSMEs, and the country’s healthcare system)
2. Construction of Infrastructure projects
3. Refinancing of existing debt
4. Other national expenditures, focused more on the country’s efforts against the pandemic

Are RTBs safe investments?

Investing in RTBs is considered safe and low-risk because they are a direct obligation of the Philippine government. However, they are still affected by risk and opportunity cost. Thus, it is highly recommended that you understand it first and all the risks involved before investing in RTBs.

Is my principal investment guaranteed even if I sell before maturity?

Depending on the prevailing market rates at the time of the sell down, there is a possibility that the resulting net proceeds may be higher or lower than the principal investment.

Why is the BTR issuing an RTB this year with a 3-year tenor?

The BTr is issuing a 3-year RTB to provide the investing public a means to invest in a medium-term security that is a direct liability of the national government at an affordable investment amount (minimum of Php 5,000 per investor). It is also a means for the national government to raise money, with the help of the public, for its continuing efforts against the pandemic and the anticipated rehabilitation and growth to follow. Most especially, this tranche of RTBs will be focused on the much needed support of the country’s healthcare system, the unemployed, MSMEs, and infrastructure projects.

Are RTBs guaranteed by the government?

No, since the issuer is the national government itself. However, the RTBs are direct and unconditional obligations of the national government, which rank in equal footing with all other obligations of the Country.

Why are corporate bond issuances priced at higher interest rates?

Generally, the higher the risk, the higher the return. Corporations, both public and private, need to pay a higher interest rate due to the added credit and default risk. Sovereign issues, denominated in its home currency such as the RTB, are generally considered default risk-free as the government has the taxing power that will allow it to generate the funds to pay off its debt. Given that, government securities are generally priced at lower rates than corporate issuances.

If I have concerns regarding the offer, who do I contact?

For more information, visit the Bureau of Treasury’s website. You may also contact BPI Capital by e-mailing bpicapital@bpi.com.ph.