Here 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 rates since the first issue in Oct 2015
The September 2022’s SSB bonds yield an interest rate of 2.8%/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 2.63%/yr.
$10,000 will grow to $12,810 in 10 years.
The Singapore Government backs this bond and it’s available for you to invest if you have a CDP or SRS account (this includes Singapore Permanent Residents and Foreigners).
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....