Here’s what you need to know about Singapore Savings Bond for December 2020
This post was originally posted here. The writer, Kyith Ng is a veteran community member and blogger on InvestingNote, with a username known as @Kyith and has 1102 followers.
Singapore Savings Bond is a
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 2015
The
November 2020’s SSB bonds yield an interest rate of
0.87%/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
0.24%/yr.
$10,000 will grow to
$10,884in 10 years.
This bond is backed by the Singapore Government and it’s 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....
