Singapore Savings Bond programme exceeds $1b

The program has more than 37,000 investors.

The Monetary Authority of Singapore announced that the Singapore Savings Bond (SSB) programme has exceeded S$1 billion in outstanding amount with more than 37,000 investors. According to MAS, the programme has appealed to small savers, with 55% of all applications comprising investments of $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," the authority said.

Since the start of the programme, MAS noted that there is a significant number of investors that 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 application," MAS said.

In response to requests from the public, MAS will provide regular email updates to subscribers, which include information on the latest SSB interest rates.