The Monetary Authority of Singapore (MAS) made the announcement that the SGD50,000 issue limit for Singapore Savings Bonds (SSB) will be removed from today onwards.
Currently, Singapore investors in SSB are currently subject to two limits – the issue limit, which limits the maximum amount of each issue that an individual can hold at SGD50,000, and the individual limit, which limits each individual’s total SSB holdings at SGD100,000.
“The SSB allocation mechanism will continue to ensure that the bond is distributed as evenly as possible amongst investors. Smaller applications will be filled first in the event of an oversubscription,” said MAS.
Since the launch of the SSB programme in October 2015, more than SGD1.9 billion of SSB have been issued to about 57,000 investors.
More than half of all applications were for amounts less than SGD10,000, reflecting the programme’s appeal to small savers. More than half of SSB investors are aged 41 and above.
MAS will offer around SGD2 billion of SSB in 2018 and will continue to monitor the subscription levels closely in determining the monthly issue size. Approximately SGD362 million of SSB have been issued so far this year.
“The details of the next SSB issue will be announced at 4.30 pm today and it will be open for applications from 6.00pm today to 9.00pm on 26 March 2018,” said MAS in the release.
Individuals who are interested to learn more about SSB may refer to the SSB website.