Here is a higher yielding, safe way to save your money that you have no idea when you will need to use it, or your emergency fund.
The 10-yr and 1-yr Singapore Savings Bonds Rate since the first issue in Oct 2015The May 2020’s SSB bonds yield an interest rate of 1.39%/yr for the next 10 years. You can apply through ATM or Internet Banking via the three banks (UOB,OCBC, DBS)
However, if you only hold the SSB bonds for 1 year, with 2 semi-annual payments, your interest rate is 0.96%/yr.
$10,000 will grow to $11,404 in 10 years.
This bond is backed by the Singapore Government and its available to Singaporeans.
A single person can own not more than SG$200,000 worth of Singapore Savings Bonds. You can also use your Supplementary Retirement Scheme (SRS) account to purchase.
You can find out more information about the SSB here.
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