Singapore, 21 July, 2015….The Monetary Authority of Singapore (MAS) today announced that the first Singapore Savings Bond will be issued on 1 October 2015. Interested investors may apply for this issue from 1 September 2015. A new Savings Bond will be issued every month thereafter. Singapore Savings Bonds are a new type of government bond that offers individual investors a safe, long-term and flexible product to meet their savings and investment needs.
Applying for the first Savings Bond issue
2 On 1 September 2015, MAS will publish a public notice to provide information on the 1 October 2015 Savings Bond issue, including the amount on offer and the interest pay-out schedule from the 1st to the 10th year. The notice will be published after 4.30pm on the Savings Bonds website (www.sgs.gov.sg/savingsbonds). This information will also be made available in local newspapers the following day. Investors should note the following:
1 September 2015, 6.00pm
25 September 2015, 9.00pm
28 September 2015, after 3.00pm
Successful applicants will receive their Savings Bonds in their Central Depository (CDP) accounts on 1 October 2015.
DBS/POSB, OCBC or UOB ATMs; or
DBS/POSB internet banking
3 In order to apply for Savings Bonds, individuals must have a bank account with participating banks, namely DBS/POSB, OCBC or UOB and an individual CDP Securities account with direct crediting service (DCS) enabledTo find out how to open a CDP Securities account or activate DCS for an existing CDP Securities account, please refer to CDP’s website (www.sgx.com/cdp/faq) or call the CDP Call Centre at 6535-7511..
4 A new Savings Bond will be issued every month for at least 5 years, so there is no need to rush for the first issuance. The Singapore Government plans to issue S$2-4 billion of Savings Bonds this year.
Savings Bonds website and hotline
5 To help investors understand the features of Savings Bonds and learn how to apply for them, MAS has set up a Savings Bonds website which is accessible now at: www.sgs.gov.sg/savingsbonds. The website will also feature tools to help investors keep track of application timelines and understand the returns from investing in Savings Bonds over different investment periods.
6 In addition to the website, members of the public can call the Savings Bonds hotline at 6221-3682Operating hours: Mon-Fri, 8.30am to 5.30pm, excluding Public Holidays. to find out more about the programme.