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.
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