Monday, 3 December 2018

Singapore Savings Bond (SSB) - 2.01% (Jan 2019)

SSB for Jan 2019 has gotten itself to the next level - Offering 2% for the first year!! 

It seem to be going higher and higher, making short term deposits further and further unattractive as compared to SSB!

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) - 1.78% (July 2018) 
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)
4. Certainly a place for you to park your monies to avoid you from overspending (Upcoming post) 

Below is the interest rate table for the upcoming SSB Jan 2019:

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.

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.

I've also recently shared with some of my peers on how they could utilize SSB as a form of forced savings to help them with saving up, which I will write more about it in the upcoming post. 

Personally, I will be grabbing up this edition of SSB. 

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: 2 January 2019
Maturity Date: 1 January 2029
Interest Payment: 1st interest payment will be made on 1 Jul 2019, and subsequently every six months on 1 Jan and 1 Jul every year.

Application Period: 
Opens: 6.00pm, 3 December 2018
Closes: 9.00pm, 26 December 2018
Results: After 3.00pm, 27 December 2018

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1 comment:

  1. SSB is now almost S'pore equivalent to US T-bills.

    US cash savers have been enjoying 2+% rates for short term govt paper thanks to the Fed.

    Now is S'pore savers turn to catch up.

    Gotta see the Fed's Dot Plot in Dec 19 --- if only 2 hikes indicated in 2019, then rates may plateau by mid next year.