With the increased attention towards personal assets, people are looking to strengthen their portfolios by investing in low-risk bonds. Learn more about Singapore Savings Bond (SSB), a bond with a steady rise in interest rates with no capital loss! The Singapore Savings Bond (SSB) is a bond fully backed by the Singapore Government. No capital loss will be incurred and...
With the increased attention towards personal assets, people are looking to strengthen their portfolios by investing in low-risk bonds. Learn more about Singapore Savings Bond , a bond with a steady rise in interest rates with no capital loss!The Singapore Savings Bond is a bond fully backed by the Singapore Government. No capital loss will be incurred and you can always get your investment amounts back.
Unlike fixed deposits where a penalty fee is usually charged for premature withdrawal, the SSB allows investors to extract their funds anytime, with a waiting period of one month. At the initial stage of investing, there is also no need for you to decide on the intended period and duration you wish to invest for. This gives you an opportunity to use the SSB investments as a sort of rainy-day fund, as the money invested can always be taken out anytime should unforeseen circumstances occur.
Additionally, coupled with its very minimal risk, the SSB's rate of return could already be seen as rather ideal.This month's bond, SBNOV23 GX23110V, which has the application closing date of Oct 26, 2023, an Issue Date of Nov 1, 2023, and a Maturity Date of Nov 1, 2033, will have an interest rate of 3.21 per cent to 3.63 per cent per annum, and an average yearly return of 3.32 per cent if an investor holds the bond for 10 years.
For example, if you have invested a certain amount, say $1,000, into SSB and redeemed it after one year, the interest on the $1,000 would be 3.21 per cent, and the amount you can get back would be approximately $1,032. This table applies to the SSB with the issue date being Nov 1, 2023, SBNOV23 GX23110V.
SGS is transferable and can be traded on the secondary market - at DBS, OCBC, or UOB branches; or on SGX through securities brokers.The fixed income investment vehicles as above are all viable options for any investor. Depending on your risk appetite, desired tenure and preference for liquidity, any of the alternatives could be a good addition to your investment portfolio.
There are two simple ways to apply - either via Cash or via Supplementary Retirement Scheme by the internet banking portal of your SRS operator.b) An individual CDP securities account with Direct Crediting Service activated.a) Log in to your bank's internet banking, ATM, or OCBC's mobile banking app. Be sure to have your CDP account number with you.
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