The state wants your money and offers interest rates above bank rates. What are FIDELIS securities and what interest rates do they offer?
From today, June 15, Romanians can borrow money from the state and receive in return interest of up to 7.60% per year – completely tax-free. It is the sixth edition of the FIDELIS program, and the subscription window closes on June 22.
What exactly does a FIDELIS state title mean?
You give the state a sum of money for a fixed period — 2, 4, 5 or 10 years. In return, you get interest every year. At the end, you also get your original amount back. It's similar to a bank deposit, but with some important differences.
The interest rates offered
In lei:
- 6.35% per year, for 2 years
- 6.90% per year, for 4 years
- 7.60% per year, for 10 years
In euros:
- 4.00% per year for 3 years
- 4.85% per year, for 5 years
- 5.80% per year, for 10 years
All interest is tax-free – you pay nothing to the government on earnings, unlike bank deposits, where 10% tax is withheld.
Jjournalist Dan Popa sends the “EconoMix” newsletter every Thursday morning. If you are interested in personal finance and want to receive economic recommendations, you can subscribe here:
Why does the government offer such high interest rates?
This is where the economic context comes into play. As the first vice-governor of the BNR, Leonardo Badea, recently pointed out, Romania needs to borrow almost 14% of the annual GDP – both to cover the budget deficit and to refinance old debts that are coming due.
To attract money from the population – and not just from foreign markets – the state must offer competitive returns.
The interest rate of 7.60% for 10 years is not a gift: it is the price that Romania pays because it has a large budget deficit and investors demand a high risk premium.
In short: the more precarious the country's fiscal situation, the higher the interest rates offered by the state.
Compared to the bank – how much more do you earn?
The best long-term bank deposits now offer around 5.5–6% per annum, of which 10% tax is withheld. A FIDELIS bond at 7.60% tax-free means a real advantage of 1.5–2 percentage points over the deposit — significant in the long term.
Simple example: 10,000 lei invested at 7.60% per year for 10 years brings you approximately 7,600 lei in interest in the first year alone, and the amount increases if you reinvest.
What risk is there?
Government securities are considered the safest type of investment – basically, you are borrowing from the Romanian state, not a bank or a private company. The risk that Romania will not pay its domestic debt in lei is extremely small.
However, there is a risk: if you need money before maturity, you can sell the securities at the Bucharest Stock Exchange, but the price may be lower or higher than the one you bought at, depending on the market conditions at the time.
Bonus for blood donors
FIDELIS VI introduces two special installments for those who donated blood after January 1, 2026:
- 7.35% for 2 years in lei – with a minimum entry threshold of only 500 lei (versus 5,000 lei normally)
- 6.80% for 10 years in euros – with a minimum threshold of 100 euros (versus 1,000 euros)
It's an image campaign with Rock FM and Răzvan Exarhu, but also a real incentive: access is much easier for small amounts.
How do you actually buy?
Go to any of the partner banks: Banca Transilvania, BCR, BRD, UniCredit, or online through TradeVille or BT Capital Partners. You need an open account and a minimum of 5,000 lei (or 1,000 euros for installments in euros).
