The Treasury Bills (T-Bills) are government securities that provide a relatively risk-free investment alternative since it carries the full and unconditional guarantee of the government. These T-Bills are sold on a true discount basis with interest subject to the 20% withholding tax
The Fixed Rate Treasury Notes/Bonds (FRTN) are direct and unconditional obligation of the National Government with a minimum term of two (2) years from date of issue. Interest payment is done on a semi-annual basis.
Retail Treasury Bonds
Retail Treasury Bonds (RTBs) are medium to long-term investments issued by the Philippine government to make securities available to small investors.