For those looking for a stable interest return on savings without a lockdown, Singapore Savings Bonds is one option.
Record High Returns
The November 2022 issue of the Singapore Savings Bonds (SSB) has hit a record high of 3.21% for a 10-year average return, the highest since the investment instrument was first launched back in 2015.
Here’s a table showing the return percentage per annum over a 10-year period.
Year from issue date | 1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 |
---|---|---|---|---|---|---|---|---|---|---|
Interest % | 3.08 | 3.15 | 3.18 | 3.19 | 3.21 | 3.23 | 3.25 | 3.26 | 3.28 | 3.30 |
Average return per year %* | 3.08 | 3.11 | 3.14 | 3.15 | 3.16 | 3.17 | 3.18 | 3.19 | 3.20 | 3.21 |
What’s SSB again?
For those who are not familiar with SSB, it is a type of Singapore government securities, issued and fully backed by the Singapore government, offering local individual investors a risk-free investment option.
It is also flexible and can be redeemed in any month without penalty.
How to apply?
To apply for the November 2022 issue of SSB, simply login to DBS/POSB, OCBC or UOB internet banking portals and ATM. Applicants under the Supplementary Retirement Scheme (SRS) will also be able to apply through internet banking portal of their SRS operator.
Couple of things to take note of:
- You will need an individual CDP account (for cash applications) or an SRS account (for SRS applications).
- CPF funds are not eligible.