The reason I am doing a simple step-by-step guide on how to apply and redeem Singapore Savings Bonds is because I received a few comments from my previous posts suggesting that it is not worth the effort to swap the bonds. I was quite puzzled as both application and redemption can be done easily using internet banking, so the effort needed is really minimal. Hopefully, the process of application and redemption should not deter people from switching their bond with better bond issues.
Application and redemption can be done via ATM but I think internet banking is the easiest so the following guide will be based on internet banking with screenshots from DBS/POSB iBanking.
2. Select ‘More Investment Services’.
3a. Select ‘Apply for Singapore Government Securities (SGS)’ to apply.
3b. Select ‘Redeem Singapore