More application channels opened for Singapore Savings Bond Programme: MAS

The Monetary Authority of Singapore has announced that three more application channels for the Singapore Savings Bond programme has been opened, on Feb 1, 2017.
The Monetary Authority of Singapore has announced that three more application channels for the Singapore Savings Bond programme has been opened, on Feb 1, 2017.PHOTO: ST FILE

SINGAPORE - Three more application channels have been opened for the Singapore Savings Bond (SSB) programme even as the programme exceeded $1 billion in outstanding amount with more than 37,000 investors, the Monetary Authority of Singapore (MAS) announced on Wednesday (Feb 1).

The new channels for the programme, which has appealed to small savers, are: OCBC's Internet banking portal, OCBC's mobile app and UOB's Internet banking portal.

Investments of $10,000 and below made up 55 per cent of all applications, MAS said in a media release on Wednesday.

The programme was most popular with investors aged 48 and above, who made up 44 per cent of investors.


GRAPHIC: MAS

Existing application channels include DBS' and POSB's i-banking portals, as well as DBS, POSB, OCBC and UOB ATMs.

Additionally, MAS will be providing e-mail updates to subscribers in response to demand.

 
 

These updates will include information on the latest SSB interest rates, and those interested in the service can sign up from March 1 (2017) at the SSB website: www.sgs.gov.sg/savingsbonds

SSBs are targeted at retail investors who want higher interest than bank deposits but are careful about putting their savings at risk.

MAS in December last year announced that up to $2 billion of Savings Bonds will be offered in 2017, with a new one issued every month.

Applications for the next SSB on offer open from 6pm on Feb 1 to 9pm on Feb 23.

For more information, call the SSB hotline on 6221-3682.