THE Bureau of the Treasury (BTr) may again raise funds via the peso-denominated “Premyo” bonds next year should its maiden offering prove successful.
National Treasurer Rosalia de Leon told reporters on Wednesday that the government will use the P3 billion it plans to raise via the Premyo bonds to fund items under the national budget, including education, housing, health care and other social services.
“We’re thinking maybe we can [do it again] next year because the Premyo bonds we have issued will [mature] by December 18, 2020,” de Leon told reporters in a briefing in Malacañang.
She said the participation of real-estate developers has been a big help in attracting investments in the peso-denominated bonds. De Leon noted the increase in the number of individuals opening bank accounts to buy Premyo bonds.
For just a minimum of P500, the public can invest in the retail treasury bonds. The offer period is from November 25 to December 13, and the issue date is on December 18.
On top of a quarterly interest payment, or an interest rate of 3 percent per annum, investors would also have a chance to win a cash reward of up to P1 million and a non-cash reward in the form of condominium units or house and lot.
For every raffle draw, there will also be 10 winners of P100,000 and 50 winners of P20,000.
Aside from raising funds for the government, government officials said the sale of Premyo bonds was also intended to achieve government’s priority of financial inclusion for the public.
Citing the 2017 Financial Inclusion survey, Finance Assistant Secretary Joselito G. Lambino II said only 22.6 percent of the adult population have savings or deposit account in the banks while the majority resort to informal lending practices like the onerous “5-6.”
De Leon said she hopes that more overseas Filipinos would open accounts in the Philippines, considering that there is an online ordering form to make it easier for the people to participate in Premyo bonds.
Premyo bonds are available through five selling agents: Development Bank of the Philippines, Land Bank of the Philippines, Banco de Oro, China Bank and First Metro Investment Corp., a subsidiary of Metrobank.
The non-cash rewards came from three participating institutions—Vista Land, Megaworld and DoubleDragon.
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PRIMIUN BOND ONLY FIVE HUNDRED