The new BTP Italia Sì debuts on the market in a phase of return of inflation. In this context, savers are looking for tools capable of protecting their purchasing power. The security, placed from 15 to 19 June 2026, has a duration of five years (maturity June 2031) and offers a minimum guaranteed real rate of 1.60%, to which is added the revaluation linked to Italian inflation and a loyalty bonus of 0.6% for those who keep it until the end. But how much do you really earn by buying this new BTP?
How much you earn
To understand how much it can yield, it is best to look at a capital of 5,000 euros. The return is not fixed, because it depends on price trends, but the most cited scenarios indicate that the net return can vary significantly based on inflation.
If inflation remained stagnant or close to zero, the guaranteed minimum would come into play:
- the annual net return would be around 70 euros, with a total of around 375 euros in five years;
- if instead inflation stood at 1.5%, the net profit would rise to around 140 euros per year, for a total of around 704 euros at maturity.
In the scenario considered to be the most realistic, with inflation around 2.6%, the investment could yield around 183-185 euros net per year, reaching a total of close to 945 euros in five years. If prices were to increase by 3%, the profit would rise further, up to around 200 euros net per year and over 1,030 euros in total.
Even in the most favorable scenario, with inflation at 3.5%, the gross annual return can exceed 5%, with an overall net return of more than 1,100 euros over the five-year period.
How to get to 4% return
The central point is that the Btp Italia Sì combines a fixed and a variable component. The minimum real rate of 1.60% is added to the Italian inflation measured by the Foi index net of tobacco, and the final result therefore depends on the price level in the coming years.
To understand how a return close to 4% can be achieved, three elements must be added:
- the minimum real rate of 1.60% per annum;
- average inflation of 2.3%-2.6% according to current estimates;
- the final loyalty bonus of 0.6%.
Considering an average inflation of between 2.3% and 2.6%, the gross annual return is around 3.9%. Added to this is the 0.6% loyalty bonus recognized at maturity, which increases the overall return on the investment.
How to buy
Subscription to the Btp Italia Sì is reserved only for individual savers and similar investors. There are no caps or divisions, so all applications received during the placement period will be fully satisfied. The ISIN code of the security necessary to identify it and purchase it during the placement period is IT0005713539.
The Mef reminds you that the BTP Italia Sì can be purchased in a bank, at the post office or online via home banking, as long as it is enabled for trading. The issue will take place on the Mot (Electronic Bonds and Government Securities Market of the Italian Stock Exchange) through Intesa Sanpaolo and UniCredit (dealer of the operation), and Banca Monte dei Paschi di Siena and Banco Bpm (co-dealer of the operation).
The Btp Italia Sì is purchased starting from a minimum of 1,000 euros during the placement days and can be sold in whole or in part before its maturity, without constraints and at market conditions, always for minimum lots of 1,000 nominal euros. The nominal subscribed capital is guaranteed upon maturity.
