Up to $200,000 investment into Singapore Savings Bond

From 1 Feb­ru­ary 2019, Singa­por­eans can invest up to $200,000 of their funds into Singa­pore Sav­ings Bond (SSB), up from the cur­rent lim­it of $100,000. Also, the Sup­ple­ment­ary Retire­ment Scheme (SRS) funds can also buy into the SSB from the same effect­ive date, great news to those (33% of SRS funds) who have been leav­ing their money in the sav­ings account, earn­ing the mea­gre sav­ings interest rate of around 0.1% p.a.

Recall that Singa­pore Sav­ings Bond is a 10-years sav­ings bond offered by the Gov­ern­ment. What makes this SSB stands out from the oth­er bonds is that you can ter­min­ate the bond any­time without pen­alty, and you earn the interest for the peri­od that you hold on to the bond. But do note that the trend is high­er interest rate is being offered for the first few years. If you hold on to the SSB for the full 10 years, the over­all interest rate is not as attract­ive com­pared to oth­er fin­an­cial products that locked you for 10 years.

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