More application channels for Singapore Savings Bonds

More application channels for Singapore Savings Bonds

There are now three additional online application channels for SSBs: OCBC's and UOB's Internet banking portals and OCBC's mobile app.

SINGAPORE: The Monetary Authority of Singapore (MAS) has added three more application channels for Singapore Savings Bonds (SSBs) - OCBC's and UOB's Internet banking portals and OCBC's OneWealth app.

MAS said in a news release on Wednesday (Feb 1) that since the start of the programme, a "significant number of investors" have applied for the bonds through DBS/POSB's Internet banking portal and that there were requests for more online options. Those interested can also apply via ATMs of the three Singapore banks.

MAS added that the Singapore Savings Bonds programme has exceeded S$1 billion in outstanding amount with more than 37,000 investors.

"The programme has appealed to small savers, with 55 per cent 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," the central bank said.

Singapore Savings Bonds charts

Source: CNA/ly

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