Key Details

SGS bonds are fully backed by the Singapore Government.

Issuer

Government of Singapore

Sovereign credit rating

AAA

Tenor

2, 5, 10, 15, 20 or 30 years

Currency

SGD

Interest rate

Fixed, semi-annual coupon

Interest payments

Every 6 months, starting from the month of issue. Paid on the first business day of the month.

Maturity and redemption

Cannot be redeemed early, but can be sold in the secondary market. You receive the face (par) value upon redemption at maturity.

Tax

There is no capital gains tax in Singapore.

• For individuals, interest income earned on SGS is tax exempt.
• Non-residents without a permanent establishment in Singapore do not have to pay taxes on interest income.

Compare with other SGS products

SGS Bond Calculator

What It Is Good For

Use SGS bonds to:

• Diversify your investment portfolio.
• Receive a fixed, steady income until the bond matures.
• Invest in a safe, long-term product.

Buying and Selling

Investors can purchase SGS bonds at auction. Auctions typically take place 3 business days before issuance and are announced on the SGS website 5 business days in advance.

You can apply through through DBS/POSB, OCBC and UOB ATMs or internet banking. Find out how individuals can buy SGS bonds.

Frequency of issuance

Typically monthly, according to the issuance calendar.

Method of sale

Uniform price auction - investors can submit competitive or non-competitive bids.

Bid format

In yield terms, up to 2 decimal places.

Investment amount

Minimum S$1,000, and in multiples of S$1,000.

• There is no maximum amount an individual can hold, but there are limits for each auction.
• You can submit up to S$2 million in non-competitive bids at each SGS bond auction.

Typical issue size

S$2 billion to S$3 billion for benchmark issues.

Who can buy

All institutions and individuals, including non-residents. Individuals need to be 18 years and above.

Buy with SRS and CPF

Yes

Settlement

T+3 at auction; T+1 in the secondary market.

Custody

At the Central Depository .

Secondary market trading

• At DBS, OCBC and UOB main branches. View branch and contact details.
• On the SGX through your broker.