Singapore Savings Bonds October 2023 : Hitting a high of 3.32%

 

 Singapore Savings Bonds rate is higher for October.

The rate for Singapore Savings Bonds (SSB) jumped to 3.32%, higher than the 3.16% for the last month. This is an all-time high for 2023.

The Singapore Savings Bond Oct 2023 rates are as follows.

With Fixed Deposits still remaining as low as 2.7%, Singapore Savings Bonds will provide a more consistent yield. The offer amount for this month's Savings Bonds has also increased from 800 million to 1 billion this month. This closing date for application is on 27 September 2023. For last month it was almost a 100% allocation.

Since Singapore Savings Bonds allow you to withdraw at any time with accrued interest and no penalty, it is a viable option, especially for retirement planning.

What are Singapore Savings Bonds?

• Safe and Flexible bonds for individual investors by Singapore Govt. 
• Open to individuals aged 18 and above.
• Required bank account with one of the three local banks and an individual CDP account. 
• Minimum amount at $500. Maximum cap at $200,000
• Use cash or SRS to invest

For more information on Singapore Savings Bonds, please visit here.

Disclaimer
This is not intended as investment advice but as information on what is available.. Each individual has their own risk appetite. For financial planning, it is best to consult your financial planner for advice.