2023-11-27 07:02:00
At the end of 2023, the State is trying to attract more money from Romanians for current needs: salaries of budget officers, pensions, some investments and payment of previous debts. Basically, it does this through new loans.
Investments – savingPhoto: Dulmunsumphun Pajamas | Dreamstime.com
*The text does not represent an investment recommendation
As the Ministry of Finance recently announced the new Fidelis issues starting on Monday (November 27th), we try to look at Treasury and bank interest as well.
Because at Fidelis there is a minimum amount that must be invested, 5,000 lei (except for the tranche for blood donors: 500 lei), this will be the one we will refer to in the comparisons we make.
For installments in European currency, there is a minimum amount of 1,000 euros.
*Consider that the State anticipates next year reaching a rate of 5 lei for one euro
First, we look at forecasted inflation for the end of next year, which means you should get over. The BNR estimates 4.8%, with an uncertainty range of 2.2%. That is, it can go up to 7%. We will see how the economy will react to the new taxes (Law 296/2023), because most of them, the hardest ones, come into force from January 1, 2024.
*Gain on government securities is not taxed
*I used the calculator for bank interest Finzoom.ro
See also: 2,000 lei in the Treasury or bank interest considering the new forecasted inflation? What the numbers show
What low risk offers are for 1 year
The best offers at the banks are interest rates of 6-8.05% per year, which would translate into a real profit of 270 – 362 lei (after paying income tax and commissions).
Fidelis for 1 year has an interest rate of 6.1%, representing 305 lei, money that you will receive in December 2024.
Blood donors have an interest rate of 7.1%, which would lead to 355 lei next year. However, if you fall into this category, you can also invest 500 lei, which would mean 35.5 lei in a year.
At Tezaur there is no minimum amount to invest, but the interest is 6.15% per year, and the profit is 307.5 lei.
What are the interest rates for 3 years?
When it comes to 3-year interest rates, banks offer between 6.45 – 6.95% per year, which means, cumulatively, 698 – 938 lei (after paying income tax and commissions).
Fidelis comes with an interest rate of 7.25% per year, which translates into a profit of 1,087.5 lei (cumulative), i.e. 362.5 lei per year. Also 7.25% also has Tezaur.
1,000 euros in banks or in government bonds?
For 1,000 euros, banks offer, for one year, interest rates of up to 3% (there are also lower offers, obviously), meaning a real profit of 14.8 – 27 euros.
*Check carefully the list of commissions, because in many cases a high interest rate is offered, but the profit is much less.
The State’s 1-year offer, at Fidelis, is 4%, meaning 40 euros after one year.
When it comes to 5-year time deposits, I haven’t found any at the banks. The state offers through Fidelis an interest rate of 5.5% per year, the gain being 275 euros (55 euros/year).
If you have children and want to put money aside in their name, 1,200 lei per year, it might be an idea to use the Junior Centenary program. To that amount, the state comes with 600 lei plus 3%. The rest of the money can be deposited in the bank or in government securities, because the interest rates are higher there. Junior Centenary is attractive only for the amount of 1,200 lei.
Those who are more advanced in investing and have a greater appetite for risk use other instruments such as mutual funds, stocks, corporate bonds, etc. If you want to do this you should study before making investments.
Photo source: Dreamstime.com
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