The effective interest rate for March 2017 Singapore Savings Bonds is 2.38%.
It seems that it is now easier to buy Singapore Savings Bonds. When I logged in to OCBC Personal Internet Banking, I noticed a new menu option called Singapore Government Securities in the menu.
Upon launching the page, I realized that it is now easier to buy government securities such as Singapore Savings Bonds, Singapore Government Securities (SGS) Bonds and Treasury Bills.