Bonds federal loan For individuals – securities with high yield, issued by the Ministry of Finance. You can buy new OFZs of the 3rd issue in 2018 at Sberbank and VTB from March 15 to September 14.

Federal loan bonds, or, as they used to be called “state loan bonds,” are far from a new and not very popular financial instrument.

However, the news that the Ministry of Finance of the Russian Federation plans to produce new issue federal loan bonds for individuals produced the effect of an exploding bomb.

New OFZ-n, "people's" bonds became interested not only in advanced investors, but also in ordinary people who used to be content with opening deposits in banks.

Federal loan bonds in 2018 are presented by the Ministry of Finance as an alternative bank deposits individuals, since the yield of OFZ-n is comparable to the interest rates of deposits. And there is no need to talk about their reliability.

Now the OFZ-n of the 3rd issue is being placed. The first issue was sold from April 26 to October 25, 2017. The second one is from September 13, 2017 to March 14, 2018.

Let us consider in more detail the conditions for investing money in new federal loan bonds, the OFZ yield for individuals - 2018, and also tell you where and how you can buy " people's bonds» 3rd issue, produced since March of this year.

Federal loan bonds - 2018: yield and conditions

People's federal loan bonds are very different from those securities that are already in circulation in Russia. What are their features?

Validity of OFZ — 2018

Federal loan bonds - 2018 are issued for a period of 3 years. Individuals who bought OFZ-n will have to return them to the state in three years and receive the invested money with interest. Starting date of placement of bonds of the third issue: March 15, 2018. Redemption - March 24, 2021.

By the way, it is not necessary to run to the bank and choke in line to urgently sell bonds that day. Automatic repayment of OFZ-n at the end of the term is provided. After 3 years, the money goes to the settlement or brokerage account of the investor in the bank.

Of course, the OFZ owner has the right to hand them over to the state even earlier than three years, for example, after one year of owning bonds. But his income in this case will be much lower than after three years. Therefore, it will be unprofitable to return OFZ-n to the state in the first year after the purchase.

In a word, to get the most possible income, the owner of OFZ-2018 will need to keep them for all three years.

Yield of federal loan bonds - 2018

Federal loan bonds issued in March-September 2018 will already have relatively high interest rates.

But in order to stimulate long-term investment of money, a gradual increase in the interest rate is provided.

Rates and payout dates coupon income OFZ-n of the third issue

As a result, the rate of return without taking into account commissions, as well as with the possession of OFZ-n of the third issue within 3 years before the maturity date, will be up to 7.25% per annum.

Agent banks (Sberbank and VTB) will charge a commission from the buyer, the amount of which will depend on the amount of the transaction: 1.5% - with a transaction amount of up to 50 thousand rubles, 1.0% - from 50 to 300 thousand rubles . and 0.5% - from 300 thousand rubles. Similar commissions will be charged from investors in case of presentation of bonds for early redemption.

So to get maximum benefit from OFZ-n of the third issue, they must be purchased in the amount of more than 300 thousand rubles and kept until March 24, 2021.

The OFZ yield for individuals, after three years, will exceed that offered today by the largest banks in Russia.

How much are federal loan bonds - 2018

One federal loan bond for individuals, issued in March-September 2018, will cost 1,000 rubles on the first two days of placement, then the price will change depending on the market situation. The cost will be published weekly on the official website of the Russian Ministry of Finance. When an individual purchases bonds, all conditions (price and yield) are fixed and no longer depend on market conditions.

It will be possible to buy bonds of the first issue within 6 months from the date of placement, then the sale of this issue will stop and the sale of the next one will begin. At the same time, the investor will be able to buy securities in the amount of 30 thousand rubles to 15 million rubles in one issue.

Where and how to buy federal loan bonds - 2018

Federal loan bonds for individuals, which were issued in March-September 2018, can only be purchased at Sberbank and VTB.

In order to buy OFZ, you will need to come to a branch of Sberbank or VTB, open the necessary accounts there, sign an agreement and, accordingly, become the owner of the securities. Sberbank or VTB clients who have Personal Area in Internet banks, they can do it remotely.

"People's bonds" of the 3rd issue were received by banks on March 15, 2018. Closing date for the placement of bonds: September 14, 2018.

It will be impossible to buy OFZ-2018 from intermediaries, private traders or on the stock exchange. No donation or contributions to the capital are provided. It is also forbidden to use them as collateral for obtaining a loan.

The OFZ owner will be able to sell them only in the bank where he took them, without the right to transfer them to third parties. OFZ can be transferred to another person only by inheritance. This will help avoid abuse.

Buy federal loan bonds for individuals in 2018 or not, everyone decides for himself! Learn more about the conditions for the purchase and redemption of OFZ-n in Sberbank and VTB, as well as from the information messages of the Ministry of Finance of the Russian Federation.

Today, OFZs issued by the state earlier are in circulation in Russia. These federal loan bonds are of the following types:

• OFZ-PK (with a variable coupon) began to be issued in 1995, and after the 1998 crisis, the issue was discontinued. The coupon was paid semi-annually. Meaning coupon rate changed and was determined by the average weighted yield on GKO over the last 4 sessions (trades).
• OFZ-PD (with a constant income) began to be issued in 1998. The coupon was paid once a year and was fixed for the entire circulation period.
• OFZ-FD (with fixed income) appeared in 1999. They were issued to the owners of GKO and OFZ-PK, frozen in 1998 as an innovation. The term of circulation is 4-5 years. The coupon was paid quarterly. The rate was reduced annually (30% in the first year, 10% at the end of the term).
• OFZ-AD (with debt amortization) periodic repayment of the principal amount of the debt.
• OFZ-IN (with an indexed par value) have been issued since 2015. The nominal value of the bonds is monthly indexed for the coming month in accordance with the index consumer prices for goods and services for Russian Federation.

It is federal loan bonds that can be an alternative to deposits of individuals that are losing profitability.

Yield on federal loan bonds of previous years

According to the analyst of Teletrade Group of Companies Mark Goykhman, which he expressed " Russian newspaper”, the population may also be interested in the Russian federal loan bonds with inflation-linking (OFZ-IN) that appeared in 2015.

« A 2.5 percent yield plus inflation compensation combines the reliability and sufficient yield of these securities", - the source of Rossiyskaya Gazeta notes.

The entrance ticket to this market is available to the absolute majority - the face value of one bond is one thousand rubles.

Olga Meshcheryakova, general director of Peramo Management Company, also told Moskovsky Komsomolets that the best option for a newcomer is federal loan bonds or corporate bonds of the "first echelon" - the most reliable Russian companies.

“A default on such securities can only occur if Russia defaults and state corporations go bankrupt. The probability of a default in our country with the current low level of public debt is practically zero, the same can be said about issuers of the first echelon. Moreover, if we recall the default of the Russian Federation in 1998, when GKO holders suffered, we will see that even in such a difficult time for the country, the same Gazprom paid off its bonded loans, ”Meshcheryakova argues.

Where can an individual buy federal loan bonds of previous years

Since OFZs of previous years are traded on the stock exchange, it is necessary to open an investment account with a broker. You can also buy bonds through open shares. investment funds(OPIFs) managed by large management companies.

By the way, among the alternatives to bank deposits, one can also single out investment and endowment insurance life.

Readers keep bombarding me with requests for more details about buying federal bonds. Well - in this seemingly simple matter, there really are some nuances that, in some cases, will save you a lot of money and nerves.

As a necessary introduction, I will once again warn you against the desire to trust authority and, turning off your brain, shove your money somewhere at random. Digest all the information you receive on your own, no matter who it comes from. Even if advice is given to you by Vladimir Putin or Oleg Makarenko, still strain and try to understand not only their conclusions, but also the full course of their reasoning.

1. Novice investors usually choose between OFZ and money in a bank deposit. Interest in reliable banks about the same, some people think, so why make unnecessary gestures, get acquainted with the exchanges?

In fact, OFZs have four important advantages.

First, since OFZs are issued by the Ministry of Finance, they are absolutely reliable: they can only fall along with the entire ruble system. Only 1.4 million rubles are protected in the bank. It is clear that the chances of going bankrupt at the “systemically important dozen” of banks, the list of participants of which is published on the website of the Central Bank, are about zero, however, lovers of bank interest sometimes carry money to banks from the second or third echelon.

Secondly, OFZs are liquid. You can usually sell them at a good price in a couple of hours, and get your hands on it the very next business day. A bank deposit is almost always withdrawn with a loss of interest, and if you need, say, 50 thousand rubles from the 2 million lying in the bank, you will lose interest on the entire amount.

Thirdly, OFZ coupons are usually paid every six months, which makes it possible to receive compound interest, thus slightly increasing the profitability.

Theoretically, of course, you can create some kind of cumbersome home-made system bank deposits, - by opening several deposits in different banks, and tracking the end of each deposit according to the calendar - however, in the end you will get about the same, and you will have disproportionately more fuss.

2. About the people's OFZ, the so-called OFZ-n. Quite a reasonable option for those who want to lazily bury money for several years and not think about anything. Personally, I don’t even think about them, I’m scared off by the 1% commission that banks take from the sale of such bonds, which automatically turns them into some kind of a bank deposit.

I'm going to say something politically incorrect. This prohibitive commission of 1% is a tax on stupidity. The tax is paid by people with a hardened brain who are not able to spend an hour or two to sort out "adult" bonds.

3. Regarding the choice between OFZ and corporate bonds. In my opinion, the extra half-percentage yield is not worth the risk that we take when buying bonds of a "reliable" company like Yukos or Enron. Experts advise, if you really take risks, then for the sake of normal profit - by investing, for example, 90% of the capital in OFZ, and the remaining 10% - in a few crazy cases that, if successful, can give thousands of percent per annum.

Taking risks “for half a shot” for the sake of three kopecks is a deliberately dubious undertaking. If large and reliable company files for bankruptcy, the fact that it was once large and reliable will not help you.

Of course, if you immerse yourself in trading with your head, you can scatter your eggs into different baskets, and then the risk of losing will be minimal, but in this case, another problem will come out - liquidity. It may take you a couple of weeks just to sell the bonds of a plant, or even several months to sell them at a bargain price.

4. Now about choosing a company with which you will buy bonds. There is a very important consideration here - if the Ministry of Finance of the Russian Federation itself cannot go bankrupt, then anything can happen with a broker, even with a large one.

If you are well versed in this kitchen, you can play it safe by amending the contract with the broker and forbidding him, for example, to use your bonds as collateral while playing on the stock exchange. On the other hand, if you are an experienced stock market predator, you probably don’t need my advice.

Ordinary investors would therefore be wise to open a brokerage account with some major bank. Conditions and commissions are almost the same everywhere, close to zero. Servicing in large banks, however, is usually slow, and the qualifications of the staff leave much to be desired, however, these minor inconveniences need to be endured only once, when opening a brokerage account. Then all work will go through the Internet.

5. By the way, some people think that bonds are easier to buy and sell over the phone. This is a mistake, even in the case of OFZ. You can easily lose a percentage or two simply by giving the command to "buy" or "sell" at the wrong time.

Theoretically, it is possible, of course, to give a more detailed command - to put up for sale such and such a package of bonds at such and such a price, however, in order to give such a command, in any case, you will have to delve into what is happening: you won’t be able to evade the need to study.

6. Here we come to the most unpleasant part. When you open a brokerage account with the bank, you will be given a password for the QUIK program or its web version, WebQUIK. The program is literally terrible. If I were in charge of purchasing software from some bank, I would kill QUIK for two reasons: it has a completely indigestible interface, and it has bad, thoroughly buggy code. Or, more accurately, I would try to kill QUIK. It would hardly be possible for me to do this: unfortunately, QUIK is still almost a monopolist in fact, the rest of the programs for working with the Moscow Exchange are either very primitive or work only for certain brokers.

Actually, the entire history of the development and use of QUIK is a sentence for our Western-oriented exchange community. The fact that so far, in 2018, brokers with traders use this tangle of bug-infested crutches says a lot about the real level of their technical literacy and creativity.

In fairness, I note that there are a lot of problems with interfaces, and even monsters like Samsung and Microsoft release frankly inconvenient applications. They do this not to deliberately harm users, as Apple does, but simply because of the general underdevelopment of our computer industry. Managers are beginning to slowly realize that interface designers are indispensable, but they still lack the experience to either empower interface designers with sufficient authority or pay them normal salaries.

However, do not take my cry from the heart to heart. Although QUIK offends my aesthetic feelings, from a practical point of view, you can master its slimy levers quite quickly, in half an hour or an hour.

Actually, to work with OFZ you need a very simple thing: find desired paper, look at the history over the past weeks and figure out at what price you can really buy or sell it. Then you need to set a price that suits you and wait a day. Since OFZ liquidity is high, someone will respond to a normal offer during the day.

7. Finally, how to choose the right OFZ. They have a bunch of cunning varieties, which you can read about elsewhere if you wish, but now I will tell you about one simple, but at the same time very important thing.

The main advantage of OFZs is the ability to quickly sell them at the moment when you need money. Since the OFZ price depends on the yield, and the yield depends on the current situation on the markets, it makes sense for a novice investor to choose those securities from the long list of OFZs, the price of which will not jump much. This is easy to do - you need to choose papers that expire in six months or a year. Here, for example, one of the simple services:

Choose government sector market, the status of the issue "in circulation" and the maturity date until September 30, 2019. We do not pay attention to COBRs, which they won’t let us buy anyway, and we get a list of the five most convenient papers now.

Perhaps this is the end of the introduction to the magical world of OFZ. For pedants, I also suggest reading additionally about ACI - if this concept remains misunderstood, you will be annoyed by the fact that the actual amount of the transaction is slightly different from the one that was calculated by you in Excel.

He receives income from, that is, discounts. He purchases GKOs for less than the face value, and upon redemption, the investor is paid the entire face value of the bond. T-bills are usually issued for one year.

There are several types of federal bonds. Securities issued since 1998 with an annual payment regime fixed for the entire circulation period are referred to OFZ with a constant income. With a variable coupon - issued during 1995-98. securities with a semi-annual payment regime. Issued since 1999, papers with quarterly payments over 4-5 years, originally handed over to holders of bonds with a variable coupon frozen in 1998, are called OFZ with fixed income. There are also federal debt bonds (papers with periodic principal repayment) and zero-coupon bonds (short-term papers issued in the nineties on a discount basis. The latter were distributed at a lower price relative to face value, without accrual.

OFZ are the main type of medium-term securities in Russia. This is a necessary tool because they allow you to solve the problem of short money issues for a relatively long time. The prerequisites for the creation of medium-term securities in Russia appeared as economic stabilization began to emerge by the summer of 1995.

The impact of OFZs on the stock market OFZs, like other state-issued securities (deposit, shares,

etc.) serve mainly to finance unaccounted for

federal budget

government spending. In other words, OFZ issuance allows the state

cover the budget deficit by borrowing

The state, through the hands of the Central Bank, will try to lower the loan interest rate in order to place a loan at a lower rate. The actions of the regulator in this direction will contribute to the growth

corporate bonds and

shares

Issued under higher percentage.

When selling by the primary owners, received as a result of reinvestment, the profit (loss) is determined as the difference between the selling price and their paid value, taking into account the costs associated with the sale. The paid value of government securities received as a result of reinvestment (novation) is recognized as the cost equal to the investor's actual costs for the acquisition of GKOs and OFZs redeemed as a result of redemption or novation, reduced by the amount received during restructuring (novation).

Video tutorial on reinvestment

The paid value of one government security received as a result of restructuring is determined as the paid value of all received government securities divided by their number. When calculating by primary owners and income on government securities received as a result of reinvestment, upon their redemption, including when sending federal loan bonds with a constant coupon income (OFZ-PD) to pay off overdue debt on, and penalties to the federal budget, additionally the redemption price (nominal value of redeemable securities) excludes part of the interest income payable on OFZs and the difference between the redemption price and the purchase price on GKOs, included in the nominal value of government securities received as a result of restructuring, attributable to one security, received as a result of the restructuring.

Primary participants in the securities market that suffered a loss in the course of restructuring (novation) of GKOs and OFZs, as well as in the sale of government securities obtained as a result of restructuring (novation), have the right to use income from the sale of securities, both circulating and not traded on the organized securities market. Futures can be viewed as a standardized variety that circulates on an organized market with mutual settlements centralized within the exchange.

This type contracts allows participants to effectively manage interest rate risk in the long segment of the yield curve and significantly expands their opportunities when working in the debt market.

Government bonds of other countries are generally quite similar in their functions to Russian papers. These securities have minimum credit risks and guaranteed by the government

The Treasury market is very active, it has a lot of liquidity and a narrow

spread

The short-term Treasury rate often acts as a risk-free and reference rate not only for the US, but for the whole world.

OFZ prospects in Russia. For the Russian government, the OFZ market is a great opportunity to cover the budget deficit through a loan. In the future, it is planned to issue securities in the amount of 250 billion rubles, with a net volume of attraction of 112 billion rubles. To date, since the beginning of the year, bonds worth 93.3 billion rubles have already been sold, with a net borrowing volume of minus 12.9 billion rubles. Among the expected volume of securities, assets worth 150 billion rubles will have a term of up to five years, it is planned to issue securities for 80 billion rubles with a term of 5 to 10 years. A total of 20 billion rubles worth of securities will be issued with a rotation period of more than 10 years. Most of the securities in the future will have a floating rate.

According to

March bonds issued by the Central Bank of the Russian Federation were too overvalued, and in this regard, all participants

expect their prices to drop by the end of spring. The weakening ruble continues to exert dominating pressure on bonds.

In 2015, OFZ yields declined. To be more precise: returned from the intermediate maximum to the average numbers, still at high level, as for the safest investment tool. The fact is that investors who purchased federal loan bonds at the time they were at the peak of profitability could only count on coupon income, and all that shone for them was those very 13% profits.

On March 15, 2016, the Accounts Chamber of the Russian Federation published its opinion on the program for additional capitalization of banks through federal loan bonds (OFZ). The auditors came to the conclusion that the OFZ mechanism could result in federal budget losses, while the capitalized banks lost part of what they received, IA Prime reports. In particular, by January 1, the Ministry of Finance of the Russian Federation received 87.5 billion rubles from the State Corporation "Deposit Insurance Agency" (DIA) as coupon income, but the Ministry of Finance paid coupon income on OFZ for 1 trillion. rubles in the amount of 107.9 billion rubles. In addition, in total, the capital of 25 capitalized to reporting date banks increased by 190.4 billion rubles, and banks received OFZs by 802.7 billion rubles. This is due to the fact that almost 50% credit institutions ended the year with losses (237.5 billion rubles). Moreover, most of the losses were formed in the second half of the year, that is, after receiving state support.

Read in full: http://quote.rbc.ru/comments/2016/03/15/34579076.html For those who invest in OFZ in 2016, there is a prospect of getting a double benefit. An investor who has acquired them may well count on an increase in the market value of bonds, with a view to their further resale, for example. Since we are not talking about corporate, but about government securities, which cannot but grow in price, in the event of a normalization of the general economic situation in the country. It is still too early to talk about the pre-crisis level, but the shock that the Russian economy experienced in 2014 is no longer there today. In 2016, OFZs remain a profitable investment tool that can bring fixed income with minimal risk.

prospects Russian economy 2016

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Federal loan bonds for individuals can be purchased from April 26, 2017 in two largest banks Russia - VTB and Sberbank. IN modern history this is the third attempt by the state to attract funds from the population. The first stage of sales of government debt securities was launched in 1995. The 11 emission series included debt securities worth 13 trillion rubles. Five years later (in 2000) another placement attempt was made, but for various reasons the issue had to be stopped.

Now citizens have access to new government bonds of Russia, which have already received the status of "people's". The conditions proposed by the state interested the population and drew its attention to debt securities. This method of investment is an alternative to classic deposits, because the purchase of new OFZs also entitles the holder to receive interest. The question is how reliable such an investment is, and what are the features of government bonds.

General provisions

For many people who are far from investment activity, the term "federal loan bonds" is completely unfamiliar. This definition refers to debt assets that the state issues for the purpose of selling to the public and replenishing the treasury.

Government bonds for citizens — the opportunity to invest savings in the hope of receiving interest in the future. Main Feature is the limited duration of this instrument. So, the date of issue of securities is 04/26/2017, and the repayment must be made in three years - before 04/29/2020.

As soon as the 3-year period is over, OFZ-n holders are entitled to receive the face value of the security, as well as accrued interest. If we draw parallels, the tool in question has much in common with savings certificate Sberbank.

Potential profit

The key issue of interest to potential buyers is the yield of federal loan bonds. The state offers securities under high stakes, the amount of which exceeds the interest on a standard bank deposit. At the same time, the rate is growing every year, which makes it profitable to buy OFZ for a long period. The more the buyer holds the debt paper in his hands, the higher the potential profit.

The Ministry of Finance of the Russian Federation has set the following interest rates in relation to the terms of payments:

• 7.5% - the first of November 2017
• 8.0% - May 2, 2018
• 8.5% - end of October 2018.
• 9.0% - first day of May 2019
• 10% - 30.10.2019
• 10.5% is the last stage, which takes place on April 29, 2020.

If a federal bond for individuals is purchased on the first day of sale, it will yield an average of 9.02% per year. But here it is important to take into account the commission deduction of the agent bank.

Financial institutions that are engaged in the implementation of OFZ for the population receive the following profit:

• In the case of the purchase of securities in the amount of up to 50,000 rubles. — 1.5% of the transaction volume.
• 50,000-300,000 rubles - 1.0%.
• From 300 000 rubles and more - 0.5%.

The same commissions are charged from buyers if they decide to pay off the debt paper ahead of schedule.

The highest commission will be 3% if the investor buys OFZ-n for up to 50 thousand rubles, without waiting for his due date, presents them for redemption. If you buy bonds in the amount of 300,000 rubles. and keep them on hand until the set day, the commission will be minimal (0.5%).

Terms of OFZ purchase in 2017

Investments in OFZ for the population have a number of advantages:

• Obtaining a guaranteed profit, thanks to the high yields of government bonds of the Russian Federation.
• Possibility to repay debt paper at any convenient time.

In the event of an OFZ purchase, the investor has the right to return the invested money without waiting until a year has passed from the date of purchase. But in this case, the yield of debt paper will be zero. Also, in case of early repayment, it is worth considering the following nuances:

1. The agent bank redeems debt securities at the purchase price (not higher than the face value of the asset).
2. An additional commission is charged, which makes the premature return of debt securities unprofitable for the holder.

When repaying OFZ for the population a year after the purchase interest rate will be equal to 6-8.5% depending on invested amount and the size of the commission. To get the greatest benefit, it is advisable to buy OFZ-n immediately after the start of placement in the amount of 300,000 rubles. and more, and then hold the securities until April 29, 2020.

How much will the purchase cost?

The first issue of OFZ-n goes on sale from April 26, and then the issue will be carried out every six months. The price of one bond is 1000 rubles. The lower amount of debt securities that can be purchased is 30 pieces (30,000 rubles). The maximum number of federal loan bonds that are available for purchase by one person is 15 thousand pieces per total amount up to 15 million rubles.

The sale of OFZ-n of the 1st issue will be carried out within six months, starting from April 26, 2017. Then the second issue is placed, which may have a different value depending on the market situation. At the time of the acquisition of an asset, all conditions for profitability and price are fixed and do not depend on changes in the market.

Where can I buy?

To invest money in government bonds, you need to contact VTB 24 or Sberbank. These financial institutions have the largest network of branches in Russia, which makes the purchase of OFZs available to everyone. With active demand for debt securities, other financial institutions may also be involved in the sale.

What actions can be taken with bonds?

OFZ-n securities may be sold only if financial institution where the debt securities were purchased. Transferring a bond to another person or using it as collateral is prohibited. In addition, it is not permitted to donate an asset or make a capital contribution. The only thing that is possible is to transfer the OFZ to another person by inheritance. Such restrictions are designed to avoid fraud and abuse by investors.

Results

OFZ yield allows us to talk about excellent prospects for such investments. Average profit from 3 summer bonds is 8.5%, while the rate of bank deposits is at the level of 6-8%. It is not worth reminding once again about the reliability of such investments, because the bonds are backed by state guarantees.

Many have heard that the Ministry of Finance issued "people's" bonds in 2017. This is the OFZ for the population (OFZ-N). Thus, the authorities want to attract citizens to invest in financial markets. Main question that worries everyone is whether to lend to the state.

History shows that the state sometimes failed to fulfill its obligations to the population. But the economy of 2017, the economy of 1982 and the economy of 1998 are completely different economies. Even more, they are different states. Russian budget for 2017-19 allows the government to service loans without problems.

Now let's talk about how the investor can benefit from this.

First, let's figure out what it is. Any citizen of the Russian Federation who is 18 years old can at any time independently lend his own state money by buying such papers on them.

Whether it's a bank or investment company. To do this, it is enough to open an account online without leaving your home. The choice for buying is quite wide, several dozen OFZ issues are circulating on the market, of which bonds with short term(from 1 to 3 or 5 years).

Today, conventional government bonds give an average of 1-2% higher returns on deposits. Such investments are more profitable than savings in state bank. And the most interesting thing is that you do not pay tax on OFZ coupon income.

What is important to know about ordinary OFZ?

1. You can sell an ordinary OFZ at any time. Let's say for some reason you change your mind about holding them until the maturity date and want to sell them after three months.
2. When selling, in any case, you receive the accumulated coupon income for the time you own the securities.

The main advantage of acquiring conventional OFZs is the safety of investments. In the case of the purchase of OFZ, you directly deal with the state, which guarantees you the return of the entire invested amount. Compared to ordinary deposits in banks, this is an analogue of guarantees government agency on deposit insurance, which compensates for losses in the amount of 1.4 million rubles. As you can see, both types of investments have the same level of risk, because in both cases the state acts as a guarantor. But the amount of guarantees in the case of OFZ is not limited.

So, we have learned that the regular OFZ is a convenient tool that gives the investor a good, reliable and stable income. An interesting opportunity, is not it.

And now the most interesting. Let's compare the ordinary OFZ with a new instrument, the so-called people's OFZ. Consider the features, differences and advantages of each tool.

Where can I buy

People's OFZs are distributed only through state-owned banks (VTB and Sberbank) and it will not work to sell to anyone other than the state-owned bank. If you do not have an account or online access to a state bank, then you will have to go to its branch and sign the necessary documents.

In contrast, ordinary OFZs are traded on the market. They can be bought and sold at any time through a broker using a brokerage account or . However, for people unfamiliar with trading on the exchange, the whole procedure for buying bonds will result in the study of a considerable number of specific issues.

And here, as planned, the acquisition process from OFZ-N is as simple as possible.

Maturity and face value

The circulation period of OFZ-N is three years. The par value of one such bond is one thousand rubles. This is perhaps the only similarity government papers new format and conventional OFZ. If you want to become the owner OFZ-N bonds, then you personally must buy securities for at least thirty thousand rubles. You can purchase such bonds in the amount of up to 15 million rubles in one issue.

While on stock market different issues of government bonds are presented, with different maturities (from several months to thirty years). In the stock market, the entry threshold may be approximately the same. You need to deposit a certain minimum amount when opening a brokerage account. In cases of IIS, there is no minimum amount, and, accordingly, the entry threshold is 1000 rubles. Maximum amount also not limited.

OFZ-N yield

The declared profitability of national papers will increase depending on the period of their holding. The longer you own securities, the higher their profitability will be. The coupon yield rises from 7.5% in the first year of ownership to 10.4% in the third year. As a result, the average yield for three years of holding paper will be about 8.5%. But there is important feature. Coupon income can only be obtained by holding the paper for more than a year. In other words, by selling government bonds during the first year of ownership, you will not receive anything, and even lose a little (1 - 3% commission, depending on the amount of investment). The coupon will go to the bank agent.

The yield of ordinary OFZs is on average 1-2% higher than the yield of deposits. whether you hold bonds to maturity or sell early. There is a difference, isn't there.

Another similarity with OFZs is the calculation of accumulated coupon income. That is, by selling people's bonds, you get a part of the coupon amount, in proportion to the number of days of ownership. But only after the first year of ownership.

Also, in both cases, the income is not subject to 13% tax.

Investor expenses

For you, as investors, of course, there will be additional costs, which, in the case of national OFZs, will include a bank commission, a depository commission, and storage costs. As representatives of the Ministry of Finance explain, when buying national OFZs in the amount of 300,000 rubles or more, the commission will be about 0.5%, in the amount of 50 thousand rubles or more. commission will be 1%. And with a smaller purchase amount of 1.5%. The same amount of commission will have to be paid for their early sale. Therefore, your total costs can reach from one to three percent.

Recall that commissions in the brokerage business are now close to zero. This means a commission close to zero when buying regular OFZs. What can be a decisive factor in choosing an investment tool.

The cost of buying both national and common papers increases after their placement. Since the buyer pays previous owner accumulated coupon income.

Results

What do we end up with? The Ministry of Finance offered us people's bonds, which are in fact a surrogate for conventional OFZs. Such a surrogate puts investors in unequal conditions with professional participants in the securities market. So, for example, in the first year of ownership, national papers do not work, that is, they do not bring income to the investor, unlike ordinary OFZs. And it can scare away potential buyers.

For those who do not want to stand in line at the state bank to buy national OFZs, and then be afraid of losing income for a whole year, there is good news. A broker can open an individual investment account (IIA) for you without visiting a bank branch. And by buying ordinary OFZ using IIS, you can get additional benefit from the state in the amount of 13% of the purchase amount, but not more than 52 thousand per year. This benefit is available through tax deduction on the amount deposited on the IIS.

Well, for those who think that the exchange is too complicated and this tool has been developed: people's bonds. Successful investment.