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.
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