Exciting news! The Singapore Savings Bond (SSB) rates for this month have been announced. For Sept 2024, the SSB offers a simple interest rate of 3.10% per annum over a 10-year period. When compounded, this is approximately 2.72% per annum. This is higher than the current CPF Ordinary Account (OA) interest rate of 2.5% per annum.
What is the SSB?
The Singapore Savings Bond is a safe and flexible way to save for the long term. It offers a step-up interest rate, which means the longer you hold it, the higher the return.
Why Invest in SSB?
Safety: Fully backed by the Singapore Government.
Flexibility: You can redeem your bond in any month without penalty.
Higher Returns: Interest rates are competitive, making it a good option for conservative investors.
How to Apply?
Applications can be made through DBS/POSB, OCBC, or UOB ATMs and internet banking portals. The application period is from 1st to 25th of the month (Office hours).
Don’t miss out on this opportunity to grow your savings with the SSB. For more details, check out the official SSB website or reach out to your bank.
Happy investing!
Best regards,
Hobo