What GBonds Is
GBonds is a part of the GCash investing section where Filipinos can buy Retail Treasury Bonds. The Bureau of the Treasury issues the bonds. PDAX, the Philippine Digital Asset Exchange, and Bonds.ph run the platform that takes your order. GCash is the front door.
This matters because RTBs used to mean filling out forms at a bank or a government-accredited dealer. GBonds turned it into a tap inside an app most Filipinos already have. Bonds.ph itself dates back to 2020, when the Treasury and PDAX launched it as a mobile app for retail bonds.
Quick Facts for RTB Buyers
| Item | What reports say |
|---|---|
| Issuer | Bureau of the Treasury, Republic of the Philippines |
| Platform | GCash GBonds, powered by PDAX and Bonds.ph |
| RTB 31 minimum | ₱5,000, no extra fee |
| Who can buy | Fully Verified GCash users, 18 and older |
| RTB 32 offer window | September 29 to October 7, 2026, unless closed earlier |
| Deposit cover | None. Bonds are not deposits |
How to Buy a Bond on GBonds
- Fully verify your GCash. Finish your identity checks in the app. Basic accounts cannot buy.
- Open GBonds. Find GBonds in the GCash investing section and sign up for the feature.
- Wait for an offer period. You can place an order only while the Treasury offers an RTB.
- Enter your amount. Choose an amount at or above the minimum, then confirm.
- Hold or sell. Hold to maturity for the stated coupon, or check the app's rules for selling early.
Where UnionBank Fits In
You may see UnionBank mentioned next to PDAX bonds. The real history is a 2020 pilot. UnionBank and Standard Chartered issued a ₱9 billion tokenized retail bond as a proof of concept, built on a blockchain-based platform. It was a test of how bonds could be issued digitally, and the token mirrored a normal order rather than going to investors directly.
We found no sign that a UnionBank bond product is open to you through PDAX today. If you see one advertised, check the issuer's own page and read the offer terms before you pay. Looking for a UnionBank account instead? See UnionBank Philippines deals.
Who GBonds Suits
GBonds fits savers who already have an emergency fund and want a slice of money earning a fixed rate from the government. It also suits first-time bond buyers, because the order, the amount and the confirmation all live in one app. It does not suit anyone who may need the cash next month, since bonds have a fixed term and selling early can mean a different price than you expected.
Bond interest and rules can change between offers. Read the term sheet for each RTB, note the coupon rate and the maturity date, and write both down. That one habit prevents most surprises.
Bonds vs Savings vs MP2
| Option | Risk | Access to cash | Notes |
|---|---|---|---|
| Retail Treasury Bond | Government credit risk | Fixed term, sell early at market | Buy only during offer periods |
| Digital bank savings | PDIC cover up to ₱1 million | Anytime | Lower, variable rate |
| Pag-IBIG MP2 | Pag-IBIG Fund | 5-year term | Dividend declared yearly |
A bond fits money you will not touch for the whole term. For an emergency fund, a bank is better. Compare the options in our MP2 vs digital banks guide and the MP2 savings guide.
Fully verify your GCash account now so you can place an order when the next offer opens.
Before You Place an Order
See digital bank options if you need cash you can reach anytime.