Bureau of Treasury’s ‘Progreso Bonds’ Now Available in Mobile Applications

To make it accessible even to the small investors, the Bureau of Treasury (BTr) started to offer Progreso Bonds through mobile applications.

National Treasurer Rosalia de Leon said that it has been the vision of the BTr to provide Filipinos with affordable and secure investment instruments where they can invest and, at the same time, aid the government in raising funds, especially at this time.

She added that they opened up their latest RTB offering to online platforms like Bonds.Ph that allows investors to use e-wallets like PayMays to invest in RTBs.

Bureau of Treasury’s ‘Progreso Bonds’ Now Available in Mobile Applications

Image: Bureau of Treasury

Sold in multiples of P5000, the five-year retail treasury bonds (RTB) are easily accessible through Bonds.Ph app. With an interest rate of 2.625 percent per annum, the RTBs will be available until August 7 and will mature in 2025.

Those who are interested to invest first need to download the Bonds.Ph mobile app, powered by Union Bank of the Philippines.

To access the app services and start investing, investors will have to take the usual identification and verification process. Among the application requirements are an identification card and a selfie.

Investors may place their orders once account verification has been completed.

Those who do not have bank accounts may still invest in RTBs through Bonds.Ph. Investors can use their PayMaya accounts to fund their investments.

They can also withdraw the proceeds of their investment through the PayMaya app, once it matures.

Progreso BondsImage: Bureau of Treasury

Retail Treasury Bonds

Through the Progreso Bonds, the government aims to raise at least P30 billion which shall be used to fund health initiatives against the coronavirus pandemic and to provide assistance to the overseas Filipino workers and small businesses.

Bonds are deemed as low-risk investments. It also yields higher than time deposits and gives quarterly interest payments.

For more information on how to invest in Progreso bonds, please visit the BTr website.

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