Singapore, 1 February 2017The Monetary Authority of Singapore (MAS) today announced that the Singapore Savings Bond (SSB) programme has exceeded S$1 billion in outstanding amount with more than 37,000 investors. The programme has appealed to small savers, with 55% of all applications comprising investments of S$10,000 and below. MAS is encouraged by the response and will continue to raise awareness of SSBs as a safe and flexible way to save for the long term.
2 Since the start of the programme, a significant number of investors have applied for SSBs online through DBS/POSB's Internet Banking portal, besides the ATMs of DBS/POSB, OCBC and UOB. We have received requests for online options from the other participating banks, and are pleased to announce that three additional online application channels are now available. Interested investors may now apply for SSBs through OCBC's and UOB's Internet Banking portals and OCBC's mobile application1.
3 In response to requests from the public, MAS will provide regular email updates to subscribers, which include information on the latest SSB interest rates. Those interested may sign up for this service at the SSB website (www.sgs.gov.sg/savingsbonds) from 1 March 2017 onwards.
4 The public notice attached in Annex 1 contains the full terms of issue for the next SSB on offer (SBMAR17), including the schedule of interest rates. Individuals may apply for the SBMAR17 bond from 6.00pm, 1 February 2017, to 9.00pm, 23 February 2017. For more information, please visit the SSB website or call the SSB hotline at 6221-36822.
1 This refers to the OCBC OneWealth� application.
2 The Savings Bonds hotline operating hours are: Mondays to Fridays (8.30am to 12pm and 2pm to 5.30pm), excluding Public Holidays.
Source: Monetary Authority of Singapore