This year's first batch of savings bonds sold briskly

“We started issuing savings government bonds here on March 10th, and they were sold out by around 9 a.m. that day,” a staff member at a Tianjin bank branch told reporters. Another bank branch in the area also told reporters that to purchase savings government bonds, “you have to rush right when they open.”

On March 10th, the first batch of savings government bonds (certificated) for this year began selling to individual investors at Industrial and Commercial Bank of China, Agricultural Bank of China, China Construction Bank, and other banks. Multiple bank branches reported that the initial subscription was very popular, with most of the quota sold out within a few hours after the sale started.

“This year’s first batch of savings government bonds is very popular, reflecting an increasing trend among residents to lock in long-term returns,” said Song Xiangqing, Vice President of the China Commercial Economics Society, in an interview with Securities Daily.

Specifically, the first and second issues of 2026 savings government bonds are both certificated bonds, with a minimum purchase of 100 yuan. The issuance period is from March 10th to March 19th. Both are fixed-rate, fixed-term products: the first bond has a 3-year term with an annual coupon rate of 1.63%, and a maximum issuance of 15 billion yuan; the second bond has a 5-year term with an annual coupon rate of 1.7%, and a maximum issuance of 15 billion yuan.

Compared to current fixed deposit rates at major state-owned banks, the interest rates for these savings bonds are higher. For example, Bank of China’s current 3-year and 5-year fixed deposit annual rates are 1.25% and 1.30%, respectively. This means the savings bonds offer about 40 basis points higher interest for the same terms.

Song Xiangqing pointed out that residents are more inclined to allocate idle funds into safe, predictable long-term products. Backed by national credit, savings government bonds with interest rates nearly 40 basis points above those of fixed deposits at major banks have become a preferred choice for conservative investors.

Jufeng Investment Information Co., Ltd. senior investment advisor Zhu Huale also told reporters that the popularity of this year’s savings government bonds reflects investors’ pursuit of principal safety and relatively high fixed returns.

What should investors pay attention to when allocating funds to savings government bonds? It is understood that these bonds are non-transferable but can be代理 (agency handled), with agents requiring both parties’ ID documents. After purchasing, individuals can redeem early if needed, but they must hold the bonds for more than half a year to accrue interest, and early redemption will result in interest loss.

Zhu Huale suggested that allocating funds to savings government bonds should follow the principles of “investing idle money, holding long-term, choosing channels carefully, and risk prevention.” For ordinary families, they can serve as a “stabilizer” in asset allocation. Buying savings bonds is suitable for long-term idle funds to lock in safety and fixed interest, with two key points: avoid early withdrawal and avoid short-term investments.

Song Xiangqing emphasized that investors should focus on four aspects when allocating funds to savings government bonds: fund planning, purchase channels, redemption rules, and subscription opportunities. They should choose between 3-year or 5-year bonds based on their own cash flow plans, avoiding using short-term funds; certificated bonds require ID to be presented at the underwriting bank’s counter, and the bonds should be kept safely; early redemption is based on holding time, with interest paid proportionally, and no interest if held less than half a year—it’s best to hold until maturity to ensure returns; also, pay attention to issuance dates and quotas, as once the quota is sold out, the opportunity to subscribe is gone.