PREMYO BOND. National Treasurer Rosalia de Leon (left) says the ‘premyo’ bond that the Bureau of Treasury launched on November 25 encourages ordinary Filipinos to invest in risk-free investment. Also in the photo are Landbank first vice president for investment banking Gonzalo Benjamin Bongolan (center) and DBP first vice president for corporate finance group Francis Nicolas Chua. (PNA photo by Liza T. Agoot)
BAGUIO CITY -- The government is encouraging ordinary Filipinos to learn how to save money while increasing their chance of winning cash prizes and a house.
National Treasurer Rosalia de Leon said the bond sale, dubbed "Invest Pa More, Panalo Pa More Premyo Bonds Para Sa Bayan", aims to pull in small savers and share in nation building as the “Premyo” bond also seeks to raise funds for the implementation of the Universal Health Care (UHC) and the free tertiary education in state universities and colleges.
“This is intended to make more people go into the habit of investing in government securities and win prizes,” de Leon said in a press conference here on Tuesday.
With a minimum investment of PHP500 to PHP10 million per individual bond bought through partner banks BDO, ChinaBank, Metrobank, Development Bank of the Philippines (DBP) and LandBank, the investor would receive four assured benefits, de Leon said.
Among the benefits of the bond sale include earning an interest of three percent per year for every PHP500. This is higher than the 1 percent interest for time deposits; a chance to win cash reward or non-cash rewards; a protected investment with a sure return of the capital after one year.
For every PHP500 investment, the investor is entitled to one e-raffle ticket which will be drawn every quarter, each having a chance to win four times during the bond period.
“Kapag nag-invest kayo ng PHP1,000, two tickets po 'yan (if you invest PHP1,000, you have two tickets) and you have a chance to win four times, that is every quarter,” said Gonzalo Benjamin Bongolan, first vice president and head of investment banking of Landbank of the Philippines.
Every quarter, there will be 50 winners of PHP20,000; 10 winners of PHP100,000 and one winner of PHP1 million.
A house and lot and condo units will also be up for grabs.
Aside from the funds raised from the imposition of taxes coming from “vice products” such as the sin tax and tax on sweetened beverages and other sources, the “premyo” bond would only be for one year but it would assure support to the UHC and free tertiary education, de Leon said.
Buying of bonds or the investment period started on November 25 until Dec. 13, 2019 or until the government raises the PHP3-billion target.
The investor needs only to open or have an existing savings account with any of the five banks. They can buy the coupon personally from the bank or through online registration.
The investor will get an email confirmation of the purchase as proof of the investment.
After one year or upon maturity on Dec. 18, 2020, the capital invested will automatically be returned by the government to the specific bank account used in buying the bond, including the interest.
“It is a risk-free investment,” de Leon said, as she explained that it is secured by the government. She said proof that it would be a good investment is the improved credit rating of the government and the country's improved tax collection. (PNA)
