Singapore Saving Bonds exceeds S$1 billion in collection

In a significant development, Singapore Savings Bond (SSB) programme has exceeded S$1 billion in outstanding amount with more than 37,000 investors. Of these, 55 per cent bonds have been purchased by small savers, announced Monetary Authority of Singapore (MAS).

Small savers have made investment of  S$10,000 and below. Buoyed by the response, MAS will continue to raise awareness of SSBs as a safe and flexible way to save for the long term. 

Monetary Authority of Singapore, Singapore Savings Bond
55 per cent of Singapore Savings Bonds have been purchased by small savers, Photo courtesy: sglinks

Since the start of the programme, a significant number of investors have applied for SSBs online through DBS/POSB’s Internet Banking portal, besides the ATMs of DBS/POSB, OCBC and UOB.

“We have received requests for online options from the other participating banks, and are pleased to announce that three additional online application channels are now available. Interested investors may now apply for SSBs through OCBC’s and UOB’s Internet Banking portals and OCBC’s mobile application,” said MAS in a press release.  

 In response to requests from the public, MAS will provide regular email updates to subscribers, which include information on the latest SSB interest rates.

Those interested may sign up for this service at the SSB website from 1 March 2017 onwards. Individuals may apply for the SBMAR17 bond from February 1 to 23.    www.sgs.gov.sg/savingsbonds

Author
Ashraf Jamal
Ashraf Jamal – Senior Writer

Ashraf Jamal brings a rare depth to writing equipped with a degree in journalism, a postgraduate degree in political science, and a degree in law from the Allahabad University. His experience includes editing and publishing the Northern India Patrika and writing for Times of India for almost a decade covering just about any topic under the sun including NRIs and Indian diaspora.

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