It seems that the effective interest rate for Singapore Savings Bonds is declining. This month, the effective interest rate for October 2018 Singapore Savings Bonds if you held it for 10 years is 2.42% which is 0.02% lower than the previous month.
As usual, I will be applying for October 2018 Singapore Savings Bonds (GX18100V). It seems that it has became a routine for me to stash some cash away as a form of emergency fund when the need arises.
If you didn’t know, Singapore Savings Bonds pays out interest every 6 months. Thus, if you have subscribed for October 2018 Singapore Savings Bonds, the next payout will be April 2019 and October 2019 respectively. If you own a DBS Multiplier Account, you can also apply the hack to earn a higher monthly interest from your DBS Multiplier Account. 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 | ||||||||||
| SBSEP18 GX18090T | Yes | Yes | ||||||||||
| SBOCT18 GX18100V | 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)