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.