SSB ?! Whats that ?
The Singapore Savings Bonds are a special type of Singapore Government Securities which is a safe, reliable and flexible way to save for the long term and defeat the aforementioned inflation monster. The Singapore Government has also been awarded the strongest “AAA credit” rating.
Here are some listed benefits …
- The savings bonds are fully backed by the government and as it cannot be traded, you will get 100% of your investments back with no capital losses.
- One can choose to invest up to 10 years with interest rates increasing over time. (The longer you save, the higher your return.
- The investments can be taken back out at any given period without any penalties.
- You can start small, with a minimum of $500 and interests are paid bi-annually.
Safe. Reliable. Flexible
Sounds good, How do I begin applying ?
Before applying, make sure you meet the two criterion below:
- You should have a bank account with any local banks in Singapore
(DBS/POSB, OCBC or UOB)
- Also, a CDP Securities account that is linked to the bank account you intend to invest with. (Dont have a CDP account ? Click here)
How to apply ? :
- Apply at an ATM near you.
The ATM must be that of DBS/POSB, OCBC and UOB.
- Apply through your local bank’s Internet Banking Website, it should have a “Singapore Government Securities” tab.
Are there other things to note ?
- Applications are open from the 1st business day* till the 4th last business day of each month, 7am to 9pm Mondays to Saturdays (excluding Public Holidays).
- Savings Bonds will be issued on the 1st business day of the following month. If you invested in Savings Bonds using cash, you will be notified by CDP via mail of the amount of Savings Bonds allotted to you.
What are you waiting for ?
Head on down to the website to find out about this month’s interest rates today !
Stay Tuned! Till Next Time…
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MAI GONG BO JIO !