Details of application for the Singapore Savings Bonds, which is suppose to help encourage and bump up Singapore citizens savings rate were released.
- You can start applying the bonds in 1st September 2015 and ends at 25th September 2015 with the results announcing on the 28th. The bonds will be in your account on the 1st October
- The bonds are projected to be an ongoing issuance for 5 years with 2-4 billion projected to be issued this year.
- On 1st October where the bonds are credited, the information of the yield from 1st year to the 10th year will be made available to the public
- The bonds will be issued every month so there is no need to rush or feel sad that you did not get the allocation the first time round.
- You will need to have a bank account with the three participating bank of DBS, UOB and OCBC AND a CDP account
- Application will be how you apply for an IPO at the bank ATM. You will need key in the amount of bonds in denomination of $500 to apply for, check your CDP number is the correct number and keep the receipt
- Application can be through internet banking as well
- There will be a $2 transaction charges
- You will not be able to apply for the bonds over the counter
- A website have been set up here to provide more information
My past write-ups on the bond can be found here:
- This Singapore Savings Bonds: Liquidity, Higher Returns and Government Backing. Dream?
- More details of the Singapore Savings Bond. Looks like my Emergency Fund now
- Singapore Savings Bonds Max Holding Limit is $100,000 for now. Apply via DBS, OCBC, UOB ATM
- Singapore Savings Bonds’ Inflation Protection Abilities