Guide to Investing in Singapore Savings Bond: Latest Tranche Details and Application Process
MAS Releases Information on Latest Singapore Savings Bond Tranche
The Monetary Authority of Singapore (MAS) has announced details of the latest tranche of the Singapore Savings Bond (SSB), offering an average return of 3.06 per cent per year with a first-year interest rate of 2.99 per cent. The bond, which will be issued on 2 May 2024, has a tenor of 10 years and an offering amount of S$900 million.
Investors can start with as little as S$500 and invest in multiples of S$500, with a maximum investment limit of S$200,000. The application period for this month’s SSB offering is now open and will close on 25 April at 9pm. Interest payments will be made every six months, starting on 1 November 2024.
The SSB is a government-backed investment vehicle that is nearly risk-free, flexible, and requires a minimum capital to start. It offers a step-up interest rate system, meaning the longer you invest, the higher the interest income.
Individuals aged 18 and above, including Singaporeans, Permanent Residents, and Foreigners, can invest in SSBs. The application process can be done through DBS, OCBC, and UOB ATMs or internet banking, with allotment results announced on the MAS website.
Investors can withdraw their investment before the bond matures without penalties. While SSB returns may be lower compared to other investment vehicles, it is considered a safe and accessible option for conservative investors.
Overall, the SSB provides a secure way to diversify investment portfolios and is a suitable option for those looking for a low-risk investment opportunity.
