The effective interest rate for August 2019 Singapore Savings Bonds (GX19080E) is 2.01% if you held it for 10 years. The interest rate is the lowest and the worst for the past 12 months. The minimum amount you can purchase for Singapore Savings Bonds is S$500 which I am likely to do so this month since the interest rate is super pathetic. This is my monthly routine of 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. Read More