Romanian Ministry of Finance launches TEZAUR state bond program

The Romanian Ministry of Finance has launched a new edition of the TEZAUR state bond program, offering individuals tax-free annual interest rates of up to 7.15%. The program is available for investment between September 7, 2026, and October 2, 2026, with maturity options of 1, 3, and 5 years.

Interest rates are structured as follows: 6.20% for 1-year maturities, 6.75% for 3-year maturities, and 7.15% for 5-year maturities. The bonds have a nominal value of 1 leu and are issued in dematerialized form. Eligible investors must be natural persons aged 18 or older.

Subscribers can purchase bonds through several channels: - Via the Ghișeul.ro platform between September 7 and September 30, 2026. - Online for individuals registered in the SPV for Treasury-issued bonds between September 7 and October 1, 2026. - Directly at State Treasury units from September 7 to October 2, 2026. - Through Poșta Română postal units, with different availability for urban (until October 1) and rural (until September 30) areas.

The bonds are transferable and allow for early redemption. Investors may perform multiple subscriptions and can cancel existing subscriptions only during the official subscription period.