SSB - Singapore Saving Bond for Aug 24 Average interest yield of 3.22 percent I think is not bad!
Just collected interest for July - a few hundreds nice extra allowance for this month expenses, Cool!
SSB - Singapore Saving Bond : july 2024 Average interest of 3.3 percent seem quite a high interest to me!
Deadline 25th Jun 2024. Issue date 1st July 2024.
A safe and flexible way to save for the long term
The monthly issuance size of the Singapore Savings Bond (SSB) programme is S$600 million for this month. For more details, refer to the media release.
Interest rate is Based on the table rate reflected on the website.
At the end of each year, on a compounded basis.
At the end of each year, on a compounded basis.
http://www.sgs.gov.sg/savingsbonds/Your-SSB/This-months-bond.aspx
Application may apply through: DBS/POSB, OCBC and UOB ATMs and Internet Banking and SRS. CPF funds are not eligible.
Invest amount : You can invest a minimum of $500, and in multiples of $500. The total amount of Savings Bonds held across all issues cannot be more than $200,000.
Interest Payment dates : Upcoming payment: 01 Jan 2024
Subsequent payments (until maturity): Every 6 months on 01 Jul and 01 Jan
Each Savings Bond has a term of 10 years and pays interest every 6 months. Savings Bonds cannot be traded like conventional bonds or shares. Interest income is exempt from tax. Only individuals above 18 years old can apply.
Savings Bonds are fully backed by the Singapore Government. And because the bonds can always be redeemed for the full amount invested, investors are protected against capital losses when interest rates change. This makes them one of the safest possible investments for individuals to hold.
Save up to 10 years, and earn interest that “steps up” or increases over time. Hold your Savings Bond for the full 10 years and receive an average interest per year that matches the return from 10-year Singapore Government Securities yields, which has generally been between 2%-3%.
Flexible :
Or, choose to exit your investment in any given month, with no penalties. There is no need to decide on a specific investment period at the start.
Just received my interest this month, awesome!
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