Treasury bond interest rates change from August, creating a chance to swap bonds maturing this summer for a fresh issue. Check what the Ministry of Finance offers and how to use the discount.
New Interest Rates
Bond type
Interest rate in the first period
Price when swapping
3-month (fixed) OTS1125
3.00%
PLN 100.00
1-year (variable) ROR0826
5.00%
PLN 99.90
2-year (variable) DOR0827
5.15%
PLN 99.90
3-year (fixed) TOS0828
5.40%
PLN 99.90
4-year (inflation + margin) COI0829
5.75% in year 1
PLN 99.90
10-year (inflation + margin) EDO0835
6.00% in year 1
PLN 99.90
Who Can Swap What?
Holders of OTS bonds
They may transfer their claim to any bond from the current offer: OTS, ROR, DOR, TOS, COI or EDO.
Holders of ROR, DOR, TOS, COI, ROS, EDO
They have the right to swap into new ROR, DOR, TOS, COI or EDO issues (not OTS).
Why Does the Price Matter?
10 groszy discount – when swapping into bonds with maturities longer than 3 months, you pay PLN 99.90, so PLN 0.10 per unit stays in your pocket.
When swapping OTS into new OTS, the full price of PLN 100.00 applies, with no discount.
The per-unit difference is small, but with larger capital it helps raise the effective return.
The August offer brings lower rates than in July, but the promotional swap price and the wide range of maturities still make treasury bonds a solid place for savings. If you hold maturing bonds, use the window from 28 July and decide whether you prefer short-term liquidity or long-term inflation protection.
