固定利率、固定期限，财政部决定发行两期储蓄国债

Core Points - The Ministry of Finance has announced the issuance of the 9th and 10th phases of electronic savings bonds for 2025 to raise funds for national economic and social development [1] Issuance Conditions - Both bonds are fixed-rate and fixed-term, with the 9th phase having a 3-year term and an annual interest rate of 1.63%, with a maximum issuance amount of 23.85 billion yuan; the 10th phase has a 5-year term and an annual interest rate of 1.7%, with a maximum issuance amount of 23.86 billion yuan [1] - The issuance period is from November 10 to November 19, 2025, with interest starting from November 10, 2025, and paid annually [1] Sales Organization - The bonds will be sold by members of the savings bond underwriting syndicate, with electronic channels available for certain members [3] - Individual purchases are limited to a maximum of 3 million yuan per bond [3] Early Redemption - Early redemption is not allowed during the issuance period but is permitted afterward, with specific interest calculations based on the holding period [4] - A handling fee of 0.1% of the principal may be charged for early redemption [4] Fund Settlement - The issuance funds will be submitted to the national treasury in two batches, with specific deadlines for each batch [5] - The payment system format for fund transfers is specified [5][6]