SGS Bonds: Information for Individuals

Singapore Government Securities (SGS) bonds pay a fixed rate of interest and have maturities ranging from 2 to 50 years. There are three categories of SGS bonds – SGS (Market Development), SGS (Infrastructure) and Green SGS (Infrastructure). 

Auction Updates

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Overview

AAA Credit Rating
Min. $1,000 Investment Amount
Buy with Cash, SRS and CPF Funds

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Tax Exempt for individuals

In a Glance

SGS bonds are fully backed by the Singapore Government. There are three different categories of SGS bonds, summarised here:

SGS (Market Development) SGS (Infrastructure) Green SGS (Infrastructure)
Further information on the Singapore Green Bond Framework
Legislation Government Securities (Debt Market and Investment) Act 1992 Significant Infrastructure Government Loan Act 2021 (SINGA) Significant Infrastructure Government Loan Act 2021 (SINGA)
Objective To develop the domestic debt market To finance major, long-term infrastructure To finance major, long-term green infrastructure projects
Issuer Government of Singapore
Sovereign Credit Rating AAA
Available Tenor 2, 5, 10, 15, 20, 30 or 50 years
Currency SGD
Frequency of Issuance

Auction: Monthly, according to the issuance calendar
Syndication: From time to time, according to indicative timeframe as announced by MAS
Method of Sale Auction: Uniform price auction – competitive or non-competitive bids
Syndication: Public Offer – fixed price and yield as determined in the Placement Tranche. MAS will seek to allocate the bonds in the Public Offer to as many individuals as possible, taking into account the distribution of applications.
Who can buy Individuals, including foreigners, aged 18 years and above can buy SGS bonds
Minimum Investment Amount S$1,000, and in multiples of S$1,000
Maximum Investment Amount Auction: Up to allotment limit for auctions
Syndication: None
Source of funds Cash, Supplementary Retirement Scheme (SRS) funds or CPF Investment Scheme (CPFIS) funds
Note: Only cash applications are eligible for the Public Offer of syndicated issuances
Coupon Payment Semi-annual coupon starting from the month of issue. Paid on the first business day of the month.
Transferable

Yes.
SGS bonds can be traded on the secondary market – at DBS, OCBC, or UOB branches; or on SGX through securities brokers.
Note: The price of SGS bonds may rise or fall before maturity.
Maturity and redemption No early redemption, but can be sold in the secondary market. Investors receive the face (par) value at maturity (i.e. price of S$100)
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.

Note: The price of SGS bonds may rise or fall before maturity. If you want the flexibility of getting your full investment back in any given month, consider Singapore Savings Bonds instead.

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Key Statistics

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Investing in SGS bonds: Guide for Individuals

Step-by-step guide to investing in SGS bonds. Find information on how to buy, check, and manage your SGS bonds.

Understanding SGS Bonds

Get more information on SGS bonds to determine if it is the right investment before buying.

Buying and Selling SGS Bonds

Find out how to buy SGS bonds at an auction:

Find out how to buy SGS bonds issued via syndication:

Find out how to buy and sell SGS bonds on the secondary market.

Understanding Auctions and Syndications

View the issuance calendar for planned auctions, and find out how auctions and syndications work.

Managing SGS Investment

Calculate your returns and receive coupon payments.