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Ministry of Finance launches 10th edition of Tezaur; tax-free interest up to 7.85%

November 5, 2025

The Ministry of Finance (MoF) launched on Monday the tenth edition of this year's Tezaur Government Securities Program, which offers individuals the opportunity to invest in government securities with tax-free interest rates of up to 7.85%, according to a statement issued by the institution. Thus, between 6 October and 7 November 2025, Romanians can invest in Treasure state securities, with maturities of 1, 3 and 5 years and annual interest rates of 6.95%, 7.50% and 7.85%, respectively. The proceeds obtained are non-taxable. State securities have a nominal value of 1 leu and are issued in dematerialised form.According to the MF, government securities can be purchased online, between October 6 - November 5, 2025, through the Ghiseul.ro platform, and between October 6 - November 6, 2025 by individuals registered in the Virtual Private Space (SPV). 'The operations available online include opening the subscription account, subscribing and transferring the money from the subscription account to a bank account. Further details can be found in the online Guide to Online Treasury and Online Treasury,' the statement said. Tezaur securities can also be purchased between October 6 - November 7, 2025 at the State Treasury's offices, and between October 6 - November 6, 2025 (in urban areas) and October 6 - November 5, 2025 (in rural areas) through the postal subunits of CN Posta Romana SA. According to the source, the income obtained from investing in government securities issued by the Ministry of Finance is tax-free. The interest is annual and is payable on the payment dates specified in the issue prospectus. Government securities issued under the Treasury Program are also transferable and can be redeemed in advance. In addition, an investor is at liberty to make one or more subscriptions within an issue. Investors have the possibility to cancel subscriptions already made only during the subscription period by submitting a request. Individuals who have reached the age of 18 on the date of subscription are eligible. The funds raised by the Ministry of Finance as issuer, as a result of the issuance of government securities, will be used to finance the budget deficit and refinance public debt.   The issue prospectus and any possible amendments are published in the Government Securities section and on the website of C.N. Posta Romana SA.   The press release states that, starting in March, the Ministry of Finance launched the first issue in which Romanian citizens who have an account on the Ghiseul.ro platform and hold a debit card were able to purchase government securities online.   In order to support investors with a fully digitalized and efficient experience, the Ministry of Finance has prepared a guide for transferring amounts from the Tezaur subscription account back to the personal bank account.  

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