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|
|Frequency of Issuance||
Auction: Monthly, according to the issuance calendar
|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
|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.|
|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.
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: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.
- View Issuance Calendar, Auction Announcements and Results
- How Auctions Are Conducted
- How Syndications Are Conducted
- What Are Reopened Bonds
- What Are Mini Auctions
Managing SGS Investment
Calculate your returns and receive coupon payments.