For Filipinos who want to put more of their savings to work without immediately moving into higher-risk investments, Retail Treasury Bonds offer another option between keeping money in a savings account and taking on greater exposure to market fluctuations.
The Bureau of the Treasury’s 32nd tranche of Retail Treasury Bonds, or RTB 32, is currently available through GBonds on GCash during its primary offer period from September 29 to October 7, 2026. It carries a fixed annual yield of 6.875% and a 2.5-year term.
WHAT IS A RETAIL TREASURY BOND?
An RTB is a government security issued to raise funds for national development and other government financing requirements.
When investors buy an RTB, they effectively lend money to the Philippine government for a defined period. In return, they receive fixed interest payments and, if the bond is held until maturity, the principal is repaid at the end of the term.
RTB 32 matures on April 12, 2029.
A FIXED RATE THROUGHOUT THE TERM
Unlike investments whose value or returns fluctuate with market conditions, RTB 32 carries a fixed rate when purchased.
For investors who hold the bond until maturity, this provides greater predictability over the income the investment is designed to generate. RTB 32 pays interest quarterly throughout its 2.5-year term.
Those interest payments may be reinvested, added to savings, or used for other financial goals.
GOVERNMENT-BACKED AND RELATIVELY LOW RISK
Because RTBs are securities issued by the Philippine government, they are generally considered relatively low-risk investments compared with many market-based alternatives.
That can make them useful for investors looking to diversify beyond regular savings products while retaining a more conservative investment profile.
As with any investment, however, the terms of the security and the investor’s own liquidity requirements should still be considered before committing funds.
INVESTORS CAN SELL BEFORE MATURITY
Although RTB 32 has a 2.5-year term, investors do not necessarily have to hold it until April 2029.
After the primary offer period closes on October 7, 2026, RTB 32 holdings can be sold through the secondary market using GBonds.
The important distinction is that an early sale takes place at the prevailing market price. That price may be higher or lower than the original purchase price, and transaction fees apply.
Holding the bond until maturity therefore provides a different outcome from selling it early on the secondary market.
STARTING INVESTMENT IS PHP5,000
RTB 32 is designed to make government securities accessible to retail investors without requiring a large amount of starting capital.
Through GBonds, users can invest with a minimum of PHP5,000. There are zero processing fees during the primary offer period, while standard fees apply when buying or selling bonds on the secondary market.
This lower entry point gives more individual investors access to fixed-income securities that might otherwise appear more complicated or difficult to purchase.
HOW TO ACCESS RTB 32 THROUGH GBONDS
GBonds is available inside the GCash app and provides users with access to government bonds.
To get started, users can open the Invest tab on the GCash dashboard, select GBonds, and complete the Risk Profile Questionnaire. Approval takes one business day, according to GCash.
Users must be fully verified GCash customers aged 18 or older, have a verified email address, and have an updated know-your-customer profile from within the past three years. They must also not be US residents or citizens.
GBonds supports free top-ups and withdrawals, while standard transaction fees apply when buying or selling bonds outside applicable promotional periods.
A MORE ACCESSIBLE WAY TO CONSIDER FIXED INCOME
RTB 32 gives GCash users another way to diversify beyond savings while keeping their investment within the relatively conservative fixed-income category.
Its 6.875% annual yield, quarterly interest payments, PHP5,000 minimum investment, and in-app access through GBonds make the offer relatively straightforward for eligible retail investors.
The primary offer period runs only until October 7, 2026, so interested investors should review the product terms, their own financial needs, and whether they can hold the investment until maturity before deciding to participate.