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Singapore Savings Bonds (SSBs) Guide

February 3, 2019 By KK

At Risk N Returns, I’m passionate about promoting sensible DIY investing through sharing my thoughts or documenting my investing journey. While I love to take calculated risks, I recognise that most Singaporeans don’t.

So here’s a relatively risk free way to invest your warchest or emergency funds with almost no lock-up period and generally higher yields than fixed deposits – the Singapore Savings Bond. I’ll be initiating monthly coverage of this bond going forward.

Contents

  1. March 2019 SSB issue details
  2. What are Singapore Savings Bonds?
  3. Product Features
  4. How to buy
    1. Setting up a CDP account and DCS
    2. Setting up a SRS account
    3. How to apply / redeem SSBs
  5. Comparisons with Fixed Deposits & SGS
  6. SSB FAQs and Resources



1. Latest SSB issue details

Issue Code: GX19030Z
ISIN Code: SGXZ15229768
Issue Date: 1 March 2019
Coupon Date: 1 March & 1 September
Maturity Date: 1 March 2029
Application: 1 Feb 6 pm to 25 Feb 9 pm
Results: 26 Feb 3 pm onwards

Source: SGS website

2. What are Singapore Savings Bonds?

Singapore Savings Bonds are bonds (debt instruments) issued by the Singapore Government, similar to the SGS bonds issued by MAS. The bond principal is guaranteed when you redeem the bonds, with any accrued interest also paid out when the bond is redeemed.

3. Product Features

Source: SSB Factsheet

Also do note the following:

  • Personal holdings of SSBs capped at $200,000 per person
  • Only Cash and SRS funds can be used for SSBs
  • $2 per transaction request (purchase / redemption)



4. How to buy

You need the following accounts before being able to invest in SSBs:

  • A bank account with the 1 of the 3 local banks (DBS/OCBC/UOB)
  • A Central Depository (CDP) account with Direct Crediting Service (DCS) set up
  • A Supplementary Retirement Scheme (SRS) account (optional)

Setting up a CDP account and DCS

There are a couple ways of doing this, listed in order of decreasing efficiency:

  1. Getting your stock broker to do it for you
    1. This is the most efficient as you can set up a trading account at the same time to start your investment journey
    2. You are less likely to mess up as well
  2. Visit the CDP Customer Service centre at Metropolis Tower 2 (Buona Vista)
    1. Only advisable if you have no interest in buying SGX stocks / bonds / ETFs
    2. You are less likely to mess up as well
  3. Download the CDP and DCS application forms here and mail it

Setting up a SRS account

Visit the Internet Banking portals of DBS and OCBC and apply for the accounts there. As for UOB, you can only open it in person at a UOB Branch.

POSB / DBS 

POSB SRS application

OCBC

OCBC SRS Application

How to apply / redeem SSBs

You can apply / redeem SSBs from ATMs or Internet Banking portals of the 3 local banks. See below for Internet Banking portal screenshots.

POSB / DBS

Login > Invest > Apply for Singapore Government Securities
Login > Invest > More Investment Services > Redeem SGS

OCBC

Login > Investments & Insurance > Singapore Government Securities
Login > Investments & Insurance > Singapore Government Securities > Redeem SSB

UOB

Login > Investment > Securities



5. Comparison with Fixed Deposits and Other SGS

The key advantage SSBs have over fixed deposits and SGSs are the lack of a lock-up period, no exposure to market price volatility and that the principal is guaranteed, making SSBs almost like cash.

That flexibility allows you to consider using this instrument to make your emergency funds and investment warchest work harder for you.

6. SSB FAQs and Resources

This summary guide is developed with consideration of the following FAQs and Resources:

  • Latest bond issue
  • Factsheet
  • Full FAQs
  • Past Issues
    • May 2019
    • April 2019
    • March 2019

Hope you find this guide useful in your decision whether to include SSBs in your portfolio.

Happy Hunting
KK

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Related

Filed Under: Featured Posts, Guides, Invest, Singapore Savings Bonds


Reader Interactions

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  1. Singapore Savings Bonds (SSBs) Guide – March 2019 Issue | TheFinance.sg says:
    February 3, 2019 at 5:09 pm

    […] Latest SSB issue details What are Singapore Savings Bonds? Product Features How to buy Setting up a CDP account and DCS […]

  2. Singapore Savings Bonds (SSBs) Guide – March 2019 Issue | TheFinance.sg says:
    February 3, 2019 at 5:09 pm

    […] Latest SSB issue details What are Singapore Savings Bonds? Product Features How to buy Setting up a CDP account and DCS Setting up a SRS account How to apply / redeem SSBs Comparisons with Fixed Deposits & SGS SSB […]

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