The effective interest rate for August 2018 Singapore Savings Bonds if you held it for 10 years is 2.57%. I have thought the effective interest rate will trend higher but it didn’t. This month’s interest rate was slightly lower than the previous month.
As usual, I will be applying for August 2018 Singapore Savings Bonds (GX18080F). If you didn’t know, Singapore Savings Bonds pays out interest every 6 months. If you subscribe for August 2018 Singapore Savings Bonds, the next payout will be February 2019 and August 2019 respectively. By subscribing to August 2018 Singapore Savings Bonds, I completed my hack of having interest payout every month of the year which will also means I get a stepped up interest for my DBS Multiplier Account every month. If you do not know what I am talking about, read my previous post here on how to earn higher interest with your DBS Multiplier Account. (Read more: Earn More Interest With DBS Multiplier Account + Singapore Savings Bonds)
Receiving Interest From Singapore Savings Bonds Every Month!
Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | |
SBOCT15 GX15100F | Yes | Yes | ||||||||||
SBSEP17 GX17090X | Yes | Yes | ||||||||||
SBMAY18 GX18050E | Yes | Yes | ||||||||||
SBJUN18 GX18060H | Yes | Yes | ||||||||||
SBJUL18 GX18070N | Yes | Yes | ||||||||||
SBAUG18 GX18080F | Yes | Yes |
If you are wondering how traditional savings account or fixed deposits match against the Singapore Savings Bonds, you can also read about my previous post on the comparison. (Read more: Singapore Savings Bond versus Savings Account versus Fixed Deposits)