Singapore Savings Bond of upto S$2bn on offer in 2017

Monetary Authority of Singapore has announced that about S$2 billion of Singapore Saving Bonds will be offered in 2017. Photo courtesy: bigscreenproject.com

It’s time for investors to rejoice as about S$2 billion of Singapore Saving Bonds will be offered in 2017, announced Monetary Authority of Singapore. The first Savings Bond of 2017 (SBJAN17) will be issued on January 3, 2017 and upto S$150 million will be available.

When to apply?
Interested individuals have started applying for the SBJAN17 bond and it will continue till 27 December 2016.

What are SSBs?
SSBs are a low-entry, risk-free investment vehicle to help Singaporeans meet their long-term financial goals and to save for retirement. Interest rates increase the longer the investment is kept, and individuals can choose to cash out before the 10-year tenure is up without suffering any penalty.

SSBs are a low-entry, risk-free investment vehicle to help Singaporeans meet their long-term financial goals. Photo courtesy:sgs.gov.sg

Interested investors are reminded that they must have an Individual Central Depository (CDP) Securities account with Direct Crediting Service (DCS) activated. CDP helps investors keep track of their Savings Bond holdings and facilitates the crediting of Savings Bond interest payments into investors’ bank accounts. Investors who already have Individual CDP Securities accounts should check that DCS has been activated before applying for Savings Bonds.

For more information, the investors should log on the Savings Bonds website at 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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