May 2019 Singapore Savings Bonds is 2.16%

The effective interest rate for May 2019 Singapore Savings Bonds (GX19050A) is 2.16% if you held it for 10 years. The interest rate remains flat which is the same as last month. 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.

DBS Multiplier Account + Singapore Savings Bonds

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).

Singapore Savings Bonds versus Fixed Deposits

The interest rate of Singapore Savings Bond is also higher than most fixed deposits that banks can offer for 12 months. (Read more: CIMB Fixed Deposit Promotion Makes Your Money Work, Not You! )

Tracking Singapore Savings Bonds

My favorite website, StocksCafe has introduced a new feature to allow adding of Singapore Savings Bonds into your portfolio. If you didn’t know, I signed up as a Friend of StocksCafe as my most favorite feature of StocksCafe is the automated tracking of dividends payout.