Monday, 2 July 2018

Singapore Savings Bond (SSB) - 1.78% (Aug 2018)

The interest rates offered by SSB has been getting more and more exciting months on month since the start of 2018, breaking a new high each time.

Image taken from SSB's site -
I've written briefly on several issues of SSB previously which you might wish to refer to for some of my thoughts:
Singapore Savings Bond (SSB) - 1.68% (June 2018)
Singapore Savings Bond (SSB) - 1.65% (May 2018)
Singapore Savings Bond (SSB) - 1.55% (Feb 2018)

As a recap, on my thoughts about the shiny part for the Singapore Saving Bonds:

1. The flexibility in your funds
2. A risk-free place for you to park your money with no capital loss
3. A relatively lower amount and attractive rates compared to FDs.  (In fact, SSB is offering a higher interest as compared to FD today)

Below is the interest rate table for the upcoming SSB Aug 2018:

One must always remember that despite the flexiblity of SSB, the fund here has to spare fund to you and that you can last for at least a month while waiting for proceeds from redemption.

With an average return per year at 2.57% if one were to hold through the entire 10 years, it certainly look pretty decent as a "short-term" flexible option to CPF for one to has in their portfolio.

Do take note that everyone's situation is different and unique. Actions should never be done because majority are doing so, but to consider upon your own situation before acting.

Personally, I view the SSB as an instrument to keep my dollars tied away and to only act upon when there is a very shiny opportunity awaiting me. This action here also keeps away a certain fraction of the portfolio in cash position that is not exactly having the standard low interest provided by the banks.

I do not know when an opportunity like this might surfaces, but let's hope that it doesn't!
Or at the very least, I do know that at this very point, I do have $1,000 to act on. Haha!

For more information on redemption, please check on from SSB's official website here.

Here are some important dates for this bond for anyone who's interested to consider:
Issue Date: 1 August 2018
Maturity Date: 1 August 2028
Interest Payment: 1st interest payment will be made on 1 Feb 2019, and subsequently every six months on 1 Feb and 1 Aug every year.

Application Period: 
Opens: 6.00pm, 2 July 2018
Closes: 9.00pm, 26 July 2018
Results: After 3.00pm, 27 July 2018

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  1. What SRS fund still cannot be used. Why banks are taking so long time to upgrade the software. The longer the time the SRS money is parked in the bank,the more money they make.

    1. Hi Unknown,

      SRS Funds could still be used to invest in different instruments in the market. While SSB does look like the best and safest instrument amongst the 5 available ones out there, we could always consider the other option while waiting for SSB to be made available :)

  2. Hi Sleepy Devil,

    can pl enlighten me how do we cash out when we want to do so (e.g. after 2 years)?

    Thank you.

    1. Hi MIM,

      Sorry for the late reply!

      We can always cash out or rather what they call redeem our SSB at any point of time from the the ATMs or via iBanking :)