One of the most popular tools among Italian savers returns at the beginning of March. For five days, from 2 to 6 March 2026, with placement scheduled until 1pm unless early closure, the Ministry of Economy will put the BTP Valore back on the market, the government bond designed primarily for families. An operation which, in the last two years, has consolidated itself as one of the pillars of the Meloni government’s strategy to directly involve private savings in the financing of public debt.
It is a BTP with a duration of six years, structured with coupons increasing over time according to a two-year block step-up mechanism: the yield progressively rises as the years pass, rewarding those who maintain the investment until maturity.
Returns and loyalty bonuses
For now, the Ministry of Economy has not yet communicated the minimum guaranteed rates for each of the three two-year phases. These details will be announced on Friday 27 February 2026, a few days before the start of the placement.
However, one thing is certain: as has already happened in previous issues, the rates initially announced may be confirmed or revised upwards at the end of the subscription period, but they can never be lowered.
Anyone who purchases the BTP Valore on the placement days and keeps it in their portfolio until maturity will receive an extra premium equal to 0.8% of the invested capital. This is not a periodic coupon, but a final bonus that is added to the interest accrued over the years.
How to subscribe to the title
The security can be subscribed through your home banking, if enabled for online trading, or by contacting your bank or post offices where you have an account with securities deposit.
The minimum investment is set at 1,000 euros and during the placement period the BTP is sold at par (price 100) and without subscription commissions, without prejudice to the fact that any securities account management costs established by the credit institution remain in force.
The placement will take place on the MOT platform of the Italian Stock Exchange, with a consortium of dealer banks led by Intesa Sanpaolo, UniCredit and Banco BPM, supported by Monte dei Paschi di Siena and Iccrea Banca.
Safety and reasons for success
The success of the BTP Valore is not only linked to the yield, but also to a series of benefits that make it particularly attractive for retail savers.
A preferential tax rate of 12.5% applies to coupons and the final premium, much lower than the 26% expected for shares, deposit accounts and many other financial instruments. Furthermore, government bonds are exempt from inheritance taxes.
A decisive element for many families is the effect on the ISEE: from 2025, investing in BTPs (up to a total maximum of 50,000 euros between government bonds and postal savings products) does not affect the calculation of the asset indicator, allowing you to put your savings to good use without losing bonuses or social benefits. Being a government bond, the risk is considered very low: those who subscribe lend money to the Italian state, which undertakes to return it upon maturity together with the accrued interest.
The Btp Valore, however, does not shine with high returns when compared with riskier investments. In the October 2025 issue, for example, the first three years guaranteed an annual interest of around 2.6%, while in the last two the coupon rose to 4%, to which was added the 0.8% linked to the final loyalty bonus for those who held the security until maturity.
This article originally appeared on Today.it
date:2026-02-07 18:46:00
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