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March 2020 Singapore Savings Bonds is 1.71%
By My Sweet Retirement  •  February 4, 2020

The effective interest rate for March 2020 Singapore Savings Bonds (GX20030Z) is 1.71% if you held it for 10 years. This is a slight decrease as compared to 1.75% for February 2020 issue of the Singapore Savings Bonds. The minimum amount you can purchase for Singapore Savings Bonds is S$500. If you decide to hold and sell it for 1 year, the effective interest rate is 1.43% which is worst than what fixed deposits can offer.

On 1st January 2020, DBS Bank has notified that the dividends from CDP will no longer qualify under the investment category for DBS Multiplier Account. This means that the reason for purchasing Singapore Savings Bonds for the purpose of additional interest for DBS Multiplier Account is no longer valid.

For me, I will continue to purchase Singapore Savings Bonds for the purpose of achieving my goal of purchasing 8K of Singapore Savings Bonds

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By My Sweet Retirement
I am a working salaried professional in my mid 30s. Just like most Singaporeans, I worked long office working hours, often trying very hard to find some work life balance. The Sweet Retirement Blog was created to share my journey towards achieving a comfortable retirement life. I believe we cannot simply rely solely on our Central Provident Fund savings when reaching old age. Neither can we rely solely on our bank savings as we all know the interest rates cannot beat inflation.
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