Tvoy Raschet

Federal loan bonds: what it is

Debt securities issued by the Russian Ministry of Finance: you lend money to the state, it pays you interest (a coupon) and returns the face value at maturity, usually 1,000 ₽ per bond.

In Russian: Облигации федерального займа (ОФЗ)·OFZ (obligatsii federalnogo zayma)

Banks, deposits and payments Checked by the editorial team Checked: September 2026
CalculateDeposit calculator

In Russia, Kazakhstan and Belarus

Russia

You can buy them through a brokerage account or an individual investment account (ИИС, IIS), and "people's" OFZ-n bonds (ОФЗ-н) at some banks. Coupons are subject to personal income tax (НДФЛ) at 13% (15% on the part above 2.4 million ₽). OFZ are not covered by deposit insurance, but are considered the most reliable rouble securities. Their market price may fall before maturity.

Kazakhstan

The equivalent is government securities of the Ministry of Finance of Kazakhstan; individuals buy them through brokers on the KASE or AIX exchanges.

Belarus

The equivalent is government bonds of the Ministry of Finance of the Republic of Belarus, which are sold to the public through banks, including in foreign currency.

Sources: Ministry of Finance of Russia: public debt («Минфин России»)

This information is for reference only and does not constitute financial, tax or legal advice. Prepared by our editorial team, last checked: September 2026. Found an error? Write to us.

Related terms

Individual investment account (IIA)A brokerage account for individuals with tax benefits: you can get back personal income tax on your contributions and pay no tax on income. In return, you must keep the money in the account for several years.Bank depositMoney you place with a bank for a set period at interest. The bank uses it and pays you income: interest at a rate agreed in advance.Key rateThe main interest rate of the Bank of Russia: the rate at which it lends to banks and takes their spare money. It drives deposit and loan rates, tax on interest and late-payment penalties.Deposit insuranceA state guarantee: if a bank loses its licence, the Deposit Insurance Agency (ASV) pays the depositor back up to 1.4 million ₽ per bank, including interest.InflationA general rise in prices of goods and services. Because of inflation, the same amount of money buys less over time. It is measured in percent per year.

More in “Banks, deposits and payments”

Interest capitalizationSavings accountEffective interest rateCompound interestBIK (bank identification code)Settlement accountCorrespondent accountFaster Payments SystemBank detailsDebit cardCredit cardCashbackOfficial Bank of Russia exchange rateMir cardInternational money transferAccount block under Law 115-FZ

Full glossary

Cookie settings

Choose which data may be processed. You can change your decision at any time via the “Cookie settings” link at the bottom of the page.

NecessaryTheme, colour scheme, recent calculators and your cookie choice. Stored only in your browser.
AnalyticsYandex Metrica: which pages are opened, where visitors come from, how the site is used (including session recording with Webvisor). Helps us understand what to improve.
AdvertisementYandex Advertising Network and Yandex Direct: showing and personalising ads and measuring their effectiveness. Advertising pays for this free site.

Learn more: list of cookies and retention periods · consent text