Announcement: In the event you haven’t seen it but, the newest Singapore Financial savings Bonds yield 3.4% over 10 years, which is the best yielding SSBs for all of 2023 until date!

That is additionally one of many highest since SSBs had been launched, with just a few exceptions comparable to final 12 months’s December 2022 tranche, which yielded a barely increased return of three.47% within the unsure rate of interest local weather again then.

At this fee, SSBs at the moment are extra enticing than different short-term risk-free choices comparable to banks’ mounted deposits or MAS Treasury Payments. The issue with these 2 different devices is that they’ve a shorter time period period, which suggests you need to hold discovering new locations to place your funds in after 6 months / 1 12 months / 2 years. For these of you who haven’t any time to maintain purchasing round for different choices, then this month’s SSB may simply be your reply.

Right here’s the rates of interest for this month’s SSB over the following 10 years:

What I like concerning the Singapore Financial savings Bonds

The large profit with SSBs is that you lock in rates of interest for 10 years. If rates of interest are going to get slashed in 2024, this provides you the choice of holding onto the next yield through this month’s SSB.

Yields apart, the following neatest thing about SSBs are in its liquidity since you solely want to attend for 1 month to liquidate your funds. At any time while you want the money again, you will get it inside the begin of the next month.

The minimal sum can be pretty low, beginning at simply $500 and in multiples of $500. The utmost quantity of SSBs you may maintain at anyone time (together with from earlier months’ tranches) are capped at $200,000.

SSBs are additionally backed by the Singapore authorities, making it a reasonably risk-free alternative for these of you who’re tremendous risk-adverse. There could also be different increased yield choices in at this time’s market, however do notice that these will not be risk-free:

The appliance timeline will be discovered under, or right here at the official SSB hyperlink:

In the event you’re intending to use, you are able to do so by your DBS/POSB, OCBC or UOB web banking portals or ATMs. And in case you intend to make use of your Supplementary Retirement Scheme (SRS) funds as an alternative, then you definitely’ll have to make use of the web banking portal of the financial institution the place you’ve your SRS funds deposited in.

The one value is the $2 utility payment and some minutes to get it arrange through web banking.

Observe: You can't use your CPF funds to purchase SSBs.

Share this with anybody you recognize who may need to try this month’s bond.

For extra particulars, you might cross-verify on the official SSB web site by MAS right here.

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