It was previously planned that the maximum bond purchase amount would be RUB 25 million

The Ministry of Finance has set the maximum amount of “people’s” bonds for the public that can be purchased by a single buyer at RUB 15 million, according to materials for a press conference dedicated to the release of the federal loan bonds (OFZ), the TASS news agency reports.

“The maximum nominal value of the bonds available for purchase is RUB 15 million”, the Ministry of Finance booklet says.

The ministry had previously planned to set the maximum OFZ purchase amount at RUB 25 million per one buyer.

Minister of Finance Anton Siluanov said at the Russian Investment Forum in Sochi that OFZ would be issued for the population in April. The expected annual average yield of the OFZ is 8.5%. The first OFZ issue for the public will total RUB 20 billion. The minimum possible investment in OFZ is RUB 30,000 and the maximum is RUB 25 million per one issue.

The bonds will be issued semi-annually and the circulation period is three years. The coupon will be paid twice a year without any adjustment for inflationary components.

Russians will be able to obtain these bonds at Sberbank and VTB 24, including online and in the bank’s personal web office.