MORE AND MORE PEOPLE ARE BUYING GOVERNMENT SECURITIES AT THE POST OFFICE – THE PORTFOLIO OF HUNGARIAN RETAIL GOVERNMENT BONDS MANAGED BY MAGYAR POSTA IS NOW OVER HUF 1,000 BILLION
Thanks to the outstanding sales performance in the last period and the increased interest of the public, Magyar Posta now manages a savings portfolio worth over HUF 1,050 billion. This represents more than 11% of the total retail (HUF) government securities in April 2023, which amounted to some HUF 9,000 billion.
19 June 2023
Magyar Posta Zrt. began selling Hungarian government securities to the public on 1 April 1995, first with the sale of the printed 1-Year Treasury Savings Bills. At present, 2 types of printed government securities are available in the postal network, the Hungarian Government Security Plus and the 1- and 2-Year Treasury Savings Bills. In addition, dematerialised government securities through a securities account are also available at post offices (Premium Hungarian Government Security, Bonus Hungarian Government Security, One-Year Hungarian Government Security and Hungarian Government Security Plus).
Of the Hungarian retail government securities that can be deposited in a securities account managed by Magyar Posta Zrt., the most popular among customers is the inflation-linked Premium Hungarian Government Security, which offers a favourable interest rate higher than the previous year’s inflation, while the most popular among the printed Hungarian retail government securities is currently the 1-Year Treasury Savings Bill.
Government security issues organised by the Government Debt Management Centre and printed government securities sold on behalf of the Hungarian State Treasury are available exclusively at about 2,000 service outlets of Magyar Posta, while dematerialised government securities can be purchased at nearly 700 designated post offices.
“As one of the safest forms of investment, Hungarian retail government securities, which are also distributed by Magyar Posta, offer a reassuring solution for people wishing to save. We attach great importance to supporting the financial awareness of the Hungarian population, and we continually train our employees to that end. In this way, customers visiting post offices will be helped by competent staff to choose the optimal savings method, which is worth starting with as little as a few thousand forints. What is more, government securities are available at post offices free of charge, with no fees for opening an account, account management or the transaction, and no interest tax,” emphasised Dr Viktor Kohuth, Magyar Posta’s Business Deputy Chief Executive Officer.
By selling government securities to the public, Magyar Posta Zrt. also contributes to families being able to preserve the value of their savings, as the interest income earned on government securities will continue to be exempt from social contribution tax after its introduction on 1 July 2023, and will thus remain the most favourable form of savings.
More than 200,000 of our customers have printed government securities, and some 62,000 customers already have a securities account at the post office. We encourage everyone to take advantage of this favourable opportunity and choose retail government securities to meet their savings goals.
For more information on Hungarian government securities:
https://www.posta.hu/penzugyi-szolgaltatasok/nyomdai-allampapir
https://www.posta.hu/penzugyi_szolgaltatasok/allampapirok/ertekpapirszamlan_elhelyezheto_allampapirok
Magyar Posta Zrt.