Filipinos who missed the Bureau of the Treasury’s primary offer for Retail Treasury Bonds 32 (RTB 32) can still access the government security through the secondary market on GCash’s GBonds platform.
The bond carries a stated 6.875% annual gross yield, a 2.5-year term and a maturity date of April 12, 2029. The minimum investment is ₱5,000, with interest paid quarterly throughout the bond’s term.
Secondary-market purchases are subject to prevailing prices and applicable fees. GCash describes RTB 32 as a fixed-rate government security that eligible users can buy or sell through its app.
How RTB 32 pays interest
Retail Treasury Bonds are securities issued by the Philippine government. Under the bond’s terms, investors receive periodic interest payments and repayment of their principal at maturity.
RTB 32’s stated 6.875% annual gross yield provides a reference point for prospective investors, but the actual return from a secondary-market purchase depends on the purchase price and applicable costs.
Investors who hold the bond until April 12, 2029, are scheduled to receive their principal back, along with interest due under its terms. Quarterly interest payments can be used for expenses, savings or other financial goals.
Investors can also sell the bond before maturity through the secondary market. However, its selling price may be higher or lower than the purchase price as market conditions change, potentially resulting in a gain or loss.
How to buy RTB 32 through GBonds
Eligible GCash users can access GBonds through the app’s Invest tab. To get started, users must open GCash, select Invest, and tap GBonds. They then need to complete the Risk Profile Questionnaire, with approval stated to take one business day.
Once approved, users can select Top Up and enter an amount that accounts for their investment and any applicable fees. They can then choose RTB 32 from the available bonds, tap Buy, enter their desired investment amount, and review the fees before confirming the transaction.
GCash says GBonds offers free top-ups and withdrawals, while bond purchases and sales are subject to standard transaction and convenience fees. Users should review the quoted price and applicable charges in the app before confirming an order.
To use GBonds, users must be at least 18 years old and have a fully verified GCash account and verified email address. They must also have an updated Know Your Customer (KYC) profile from within the past three years.
The service is not available to foreign residents or citizens.
What investors should consider
RTB 32 offers eligible investors another route to Philippine government securities after the primary offer period. Its quarterly interest payments and fixed rate may appeal to those seeking a more predictable income stream.
The key consideration when buying on the secondary market is the price. Investors should compare the quoted price and gross yield, account for applicable fees, and consider whether they can hold the bond until maturity rather than risk selling at an unfavorable price.
For those who missed the original offer, GBonds provides another potential entry point, subject to availability and current market conditions.
