The effective interest rate for June 2018 Singapore Savings Bonds if you held it for 10 years is 2.43%. This is the highest interest rate for the past 12 months of Singapore Savings Bonds.
There are many ways the Singapore Savings Bonds can be useful. As it yields higher interest rates than most traditional savings account ( Singapore Savings Bond versus Savings Account versus Fixed Deposits ), it can be the best place to park your spare cash or serve as a temporary war chest for your stock investments.
I personally like to allocate a portion of my annual wage bonus and park them in Singapore Savings Bonds. This is in the event I get retrench by my current employer, the Singapore Savings Bonds can act as a lifesaver while I take time to look for a new job.
In the meantime, I am also applying the DBS Multiplier Account hack ( Earn More Interest With DBS Multiplier Account + Singapore Savings Bonds ) in order to earn a higher interest rate every month for my DBS Multiplier Account. I only need to do this back two more times in July and August and I will be enjoying a higher interest rate up to 1.8% for my DBS Multiplier Account throughout the year.