Core Viewpoint - Despite declining interest rates, savings treasury bonds remain popular among investors, with the latest issuance offering competitive rates compared to bank deposits [1][2]. Group 1: Treasury Bond Issuance - The fifth and sixth phases of electronic savings treasury bonds were launched on July 10, with a total issuance cap of 50 billion yuan [1]. - The coupon rates for the 3-year and 5-year bonds are set at 1.63% and 1.7%, respectively, remaining unchanged from the previous issuance [2]. - Investors purchasing 100,000 yuan of the 3-year and 5-year bonds can expect cumulative returns of 4,890 yuan and 8,500 yuan, respectively [2]. Group 2: Comparison with Bank Deposits - Current fixed deposit rates for major state-owned banks are lower, with 3-year rates around 1.5% and 5-year rates around 1.3% [3]. - The savings treasury bonds offer a more attractive option for conservative investors seeking capital preservation [2]. Group 3: Early Redemption Features - Savings treasury bonds can be redeemed early, with interest calculated based on the actual holding period and applicable interest rate tiers [4]. - Specific conditions apply for early redemption, including no interest for holdings under 6 months and deductions for longer holding periods [4].

Group 1 - The Ministry of Finance announced the issuance of the third and fourth phases of savings bonds (electronic) for 2025 [1] - The third phase of bonds has a term of 3 years with a fixed annual interest rate of 1.63% and a maximum issuance amount of 25 billion [1] - The fourth phase of bonds has a term of 5 years with a fixed annual interest rate of 1.7% and a maximum issuance amount of 25 billion [1]

5月10日上午，新一批储蓄国债开售。 据财政部官网消息，2025年第三期和第四期储蓄国债（凭证式）于5月10日至5月19日发行， 5 月 10日为正式开售首日，记者致电多家银行网点了解到，本轮储蓄国债首日销售热度持续， 投资者认购热情仍高涨。 储蓄国债主要分为储蓄国债（凭证式）和储蓄国债（电子式），本月发行的储蓄国债为凭证 式，面向个人投资者发行，需投资者持有效身份证件前往储蓄国债承销机构营业网点柜台购 买。 认购起点方面，以100元为认购起点，并以100元的整数倍递增，单个人购买单期储蓄国债的 金额不得超过300万元，付息方式为到期一次性还本付息。 本轮储蓄国债票面利率与上一期持平。具体来看，两期国债均为固定利率、固定期限品种， 最大发行总额300亿元。其中，第三期期限为3年，最大发行额150亿元，票面年利率1.93%； 第四期期限为5年，最大发行额150亿元，票面年利率2%。 储蓄国债持有期内支持提前兑取、质押贷款。根据财政部公告，投资者购买两期国债后，可 到原购买机构办理提前兑取。但发行期最后一天（即5月19日）不办理提前兑取。提前兑取按 实际持有时间和相对应的分档利率计付利息，具体为：从购买之日起，两 ...