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| Starts | 1 Apr 2024 (Mon) | Ends | 25 Apr 2024 (Thu) |
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Latest Singapore Savings Bond (SSB) issue promises an annual return of up to 3.06% for investors
UPDATE: Singapore Savings Bonds Offers Up to 3.3% in Latest Issue, apply by 28 May 2024
With a minimum investment of just $500, the latest SSB issue is an accessible option for individuals seeking a secure and flexible long-term savings plan. The bonds are a unique offering of Singapore Government Securities, designed specifically for personal investment portfolios.
- Minimum per bond: $500
- Maximum per bond: None
- Maximum individual holding: $200,000
Investors can rest assured that their principal investment and interest payments are guaranteed by the Singapore Government, ensuring a risk-free investment. Unlike other securities, Savings Bonds are unaffected by fluctuating interest rates once issued, securing the bond’s value over time.
The SSBs serve as a complement to other savings and investment strategies, providing a safe haven for long-term financial planning. They are characterized by their safety, as they are fully backed by the government, their long-term investment horizon with increasing interest over time, and their flexibility, allowing investors to withdraw their funds at any point without penalty.
Interest rates for the new issue, identified as SBMAY24 GX24050X, are structured to reward long-term investors. The rates start at 2.99% for the first six years, gradually increasing to 3.27% in the tenth year. This structure encourages investors to commit to the full ten-year term to maximize returns.
| Year from issue date | 1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 |
|---|---|---|---|---|---|---|---|---|---|---|
| Interest % | 2.99 | 2.99 | 2.99 | 2.99 | 2.99 | 2.99 | 3.03 | 3.20 | 3.27 | 3.27 |
| Average return per year %* | 2.99 | 2.99 | 2.99 | 2.99 | 2.99 | 2.99 | 3.00 | 3.02 | 3.04 | 3.06 |
*At the end of each year, on a compounded basis.
As the search for reliable fixed deposit options continues, the latest SSB issue stands out as a promising opportunity for those looking to secure their financial future in a volatile market.
- For how to invest in Singapore Savings Bonds, click here.
- For existing holders who wish to withdraw their bonds, find out how here.
- For allotment data for previous issues, click here.
- For full info, click here
Looking for more fixed deposit options? Check out some of the best deposit rates here.
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