SINGAPORE — Exciting news for investors: Singapore Savings Bond (SSB) yields have increased to 3.16%, marking the fourth consecutive rise in returns.
SINGAPORE — Exciting news for investors: Singapore Savings Bond (SSB) yields have increased to 3.16%, marking the fourth consecutive rise in returns. This latest SSB issue, which opened on Sept 4, offers an appealing first-year interest rate of 3.05%. However, the real draw lies in the 10-year yield, offering a robust 3.48%, significantly surpassing the previous series’ 10-year average of 3.06%.
Investors have until Sept 26 to apply for this SSB series, with bonds set to be issued on Oct 2. In response to high demand, the current series offers a substantial S$800 million in bonds, up from S$600 million in the last series.
Why the Surge?
Since May’s low of 2.81%, SSB rates have climbed, following an upward trend in government bond yields, which are influenced by Federal Reserve rate adjustments. Though interest rate increases have moderated in recent months, financial experts like Gerald Wong, founder and CEO of Beansprout, anticipate that SSB rates could rise further, especially in step with government bonds.
How to Apply for SSBs
Investors can apply for Singapore Savings Bonds through a variety of platforms:
Internet Banking & ATMs: Access DBS/POSB, OCBC, or UOB portals and ATMs.
Mobile App (OCBC): OCBC customers can use the app for convenience.
Supplementary Retirement Scheme (SRS): SRS account holders can apply through their accounts.
Requirements:
CDP Account: Needed for cash applications.
SRS Account: Required for SRS applications (Note: CPF funds cannot be used).
Singapore Savings Bonds continue to offer competitive returns, making them an attractive option for investors seeking stable, long-term growth.
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