If you think the effective interest rate for August 2019 Singapore Savings Bonds is bad, this month is worse. The effective interest rate for September 2019 Singapore Savings Bonds (GX19090H) is 1.95% 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. I am likely to skip this month issue of the Singapore Savings Bonds as the interest rate for 1 year is 1.65% which is lower than what fixed deposit offers (Read more: The Best Fixed Deposits of July 2019).
Currently, CIMB Fast Fixed Deposit offers a fixed deposit interest rate of 1.75% p.a. for 3 months period. CIMB Fast Fixed Deposit also offers an interest rate of 1.85% p.a. for a 12 months period. However, there is a minimum placement of S$10,000 required and only for online deposit.
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).
Tracking Singapore Savings Bonds via StocksCafe
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.
Tracking Singapore Savings Bonds via My Savings Bonds Portal
MAS has launched My Savings Bonds Portal where you can track your Singapore Savings Bonds purchases separately from your stock purchases. I have done up a simple guide here. (Read more: Guide to My Savings Bonds Portal)