Here is a higher yielding, safe way to save your money that you have no idea when you will need to use it, or your emergency fund.
The January 2019’s SSB bonds yield an interest rate of 2.45%/yr for the next 10 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 1 year, with 2 semi-annual payments, your interest rate is 2.01%/yr.
$10,000 will grow to $12,474 in 10 years.
This bond is backed by the Singapore Government and its available to Singaporeans.
A single person can own not more than SG$100,000 worth of Singapore Savings Bonds.
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 2.57%/yr for 10 years and 1.89%/yr for 1 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, move over the line to see the actual yield for that month):
What is this Singapore Savings Bonds? Read my past write ups:
- This Singapore Savings Bonds: Liquidity, Higher Returns and Government Backing. Dream?
- More details of the Singapore Savings Bond. Looks like my Emergency Funds now
- Singapore Savings Bonds Max Holding Limit is $100,000 for now. Apply via DBS, OCBC, UOB ATM
- Singapore Savings Bonds’ Inflation Protection Abilities
- Some instructions how to apply for the Singapore Savings Bonds
Past Issues of SSB and their Rates:
- 2015 Oct
- 2015 Nov
- 2015 Dec
- 2016 Jan
- 2016 Feb
- 2016 Mar
- 2016 Apr
- 2016 May
- 2016 Jun
- 2016 Jul
- 2016 Aug
- 2016 Sep
- 2016 Oct
- 2016 Nov
- 2016 Dec
- 2017 Jan
- 2017 Feb
- 2017 Mar
- 2017 Apr
- 2017 May
- 2017 Jun
- 2017 Jul
- 2017 Aug
- 2017 Sep
- 2017 Oct
- 2017 Nov
- 2018 Jan
- 2018 Feb
- 2018 Mar
- 2018 Apr
- 2018 May
- 2018 Jun
- 2018 Jul
- 2018 Aug
- 2018 Sep
- 2018 Oct
- 2018 Nov
- 2018 Dec
Tan Shi Hao
Tuesday 18th of December 2018
hey kyith! Is there any calculation to convert this effective simple interest to compound interest rate?
Wednesday 19th of December 2018
i do not know how helpful this is but perhaps you can try the XIRR calculator.
Wednesday 5th of December 2018
Hi Kyith, May I know if Singapore PR can purchase this Spore Saving Bond ? Thx.