The effective interest rate for April 2019 Singapore Savings Bonds (GX19040X) is 2.16% if you held it for 10 years. As you can see from the chart above, the effective interest rate has dipped further from 2.18% to a pathetic 2.16%. Nevertheless, as usual, I shall be allocating a portion of my monthly salary into safe haven as the Singapore Savings Bonds acts as a form of emergency fund when the need arises.
If you didn’t know yet, SRS applications for Savings Bonds open from March and individual limit has doubled to $200,000. I personally felt that the introduction of SRS application for Savings Bonds is an excellent initiative as the SRS currently earns a petite interest rate of 0.05% per annum. In March, I have used partial of my SRS funds to purchase the Singapore Savings Bonds for the higher interest.
If you hold a DBS Multiplier Account, you can perhaps try the hack I previously wrote about to achieve a higher interest rate payout. (Read more: Earn More Interest With DBS Multiplier Account + Singapore Savings Bonds)