The long-awaited wait is over. Until October 24th it will be possible to subscribe to the new Btp Valore, the government bond dedicated exclusively to retail customers, i.e. private savers. It will last seven years and will offer increasing coupons over time, which will be paid every three months. This product can also be subscribed to if you have a postal passbook or a BancoPosta current account. Here is more information about it and what the main features of this title are.
What are the characteristics of the BTP Valore?
The Btp Valore, on placement from 20 October until 1pm on 24 October (unless early closure), provides quarterly coupons that grow over time. The minimum coupon rates announced on October 17th are as follows:
- 2.60% after the 1st, 2nd and 3rd year;
- 3.20% after the 4th and 5th year;
- 4% after the 6th and 7th year.
It guarantees a preferential taxation of 12.5% on interest, as well as all other government bonds, and no commission for small savers who purchase on placement days. However, the costs of managing the account or the online trading service are excluded.
Whoever subscribes to this security can sell it either in whole or in part before maturity without any constraints and at market conditions. As regards the interests, they will accrue starting from October 28, 2025 until maturity.
The coupons will instead be paid in arrears or at the end of the reference period. The expected payment dates are:
- on January 28th of each year starting from January 28th 2026;
- on April 28th of each year;
- on July 28th of each year;
- on October 28th of each year.
In the event that one of these dates falls on a day that is not a working day, payment will be made on the first available working day. If this were to happen, however, additional interest will not be recognized for the postponement.
Can I subscribe to the BTP with my BancoPosta account and postal passbook?
The placement of the BTP Valore takes place on the Mot electronic platform through the dealer banks which are:
- Banco Bpm Spa;
- Unicredit Spa;
- Intesa Sanpaolo Spa.
It can be subscribed to either at a bank or at a post office, but in the latter case this is possible if you have a BancoPosta current account or a postal passbook.
To subscribe to the security, the saver must also satisfy the following conditions:
- have signed the contract relating to the investment services offered by Poste;
- having completed the Mifid questionnaire thanks to which it is possible to evaluate the investor’s profile and that it is still valid;
- have been classified for Mifid purposes.
Furthermore, it will be necessary to have a securities depository which is the instrument through which Poste Italiane carries out the custody and administration service of financial instruments such as BTP Valore, bonds and shares on behalf of the customer.
To open it, it will be mandatory for your BancoPosta account to be in a single name and enabled for internet banking services. Furthermore, the postal booklet must be Smart and enabled for online transaction operations. If these requirements are not met, it will be necessary to open the securities deposit at a post office.
