Here is a safe way to save money you have no idea when you will need to use or your emergency fund.
The 10-yr and 1-yr Singapore Savings Bonds rates since the first issue in Oct 2015
The October 2024 SSB bonds yield an interest rate of 2.77%/yr for the next ten years. You can apply through ATM or Internet Banking via the three banks (UOB, OCBC, DBS)
However, if you only hold the SSB bonds for one year, with two semi-annual payments, your interest rate is 2.59%/yr.
The one-year SSB yield seems to be heading down, showing a less flat curve.
$10,000 will grow to $12,781 in 10 years.
The Singapore Government backs this bond, which you can invest in if you have a CDP or SRS account (this includes Singapore Permanent Residents and Foreigners).
A single person can own not more than SG$200,000 worth of Singapore Savings Bonds. You can also use your Supplementary Retirement Scheme (SRS) account to make a purchase.
You can find out more information about the SSB here.
Note that every month, there will be a new issue you can subscribe to via ATM. The 1 to 10-year yield you will get will differ from this month’s ladder, as shown above.
Last month’s bond yields 3.10%/yr for ten years and 3.06%/yr for one year.
Here is the current historical SSB 10-Year Yield Curve with the 1-Year Yield Curve since Oct 2015, when SSB was started (Click on the chart, and move over the line to see the actual yield for that month):
How to Apply for the Singapore Savings Bond – Application and Redemption Schedule
You will apply for the bonds throughout the month. At the end of the month, you will know how many of the bonds you applied
