The Bureau of the Treasury (BTr) in the Philippines launched yesterday the Premyo Bonds Para sa Bayan, targeting individual investors, who can invest even at least P500and get a chance to win prizes, during a roadshow event at L’Fisher Hotel in Bacolod City yesterday.
Erwin Sta. Ana, deputy treasurer of the Philippines BTr, said yesterday that investors will have a return on their investment after a year, while getting a chance to win prizes in four raffles, each to be held quarterlyin March, June, September and December.
That, for only the duration of one year. There will be no pre-termination, no secondary markets, no sale of security, he said.
Aside from the cash prizes, the P1 million prize winner for the first three raffle draws will also receive either a condominium or house and lot, as BTr partnered with Vista Land, Megaworld and Double Dragon, Sta. Ana said.
The target amount of BTr is to raise P3 billion and they are emphasizing retail,given the P500 amount of minimum investment.
However, an individual has a limit of only P20,000 raffle entries to assure that there is not cornering the market, Sta. Ana said.
He also said 50 will win a 3rd prize cash rewards of P20,000, 10 individuals will win the 2nd prize which is P100,000, and one lucky individual will win P1 million and become a millionaire.
The prizes will come from the interest being paid by the government, that is being set aside to form a cash reward pool, he said.
Individuals, who have a peso savings or a current account with LandBank, Development Bank of the Philippines, Banco de Oro, Metrobank and Chinabank are eligible to invest.
Those banks will offer over-the-counter transactions, but some may also opt to do the online processing at LandBank, DBP and First Metro Securities Brokerage Corporation by logging into www.treasury.gov.ph.
Sta. Ana said that he had tried the process and it only took about five minutes for him to do it.
All individual investors will have corresponding registry account numbersthat will be placed in a raffle system supervised by the Commission on Audit and the Rewards Committee, with representatives from the private sector, banks, and the treasurer of the Philippines, to ensure transparency and fairness during the entire process.
“That system is free from hacking to some extent because it’s not connected to the internet or any network…It is totally isolated,” Sta. Ana said.
It has a randomizing program that will yield the result, it is all electronic and investors could be assured that everyone will be included in that pool, he said.
The undertaking is also part of spreading financial awareness and literacy to Filipinos, Sta. Ana said.
“Rather than being victimized by scams or schemes, one might as well help in nation-building by investing in government, which is relatively risk-free because it is the credit of the republic that is at stake here,” he said.*
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