Dear readers, the application for October 2022 Singapore Savings Bonds is now open!
In an earlier post, I shared my expectation that the 10-year average return for October 2022 Singapore Savings Bonds could be around 2.6% to 2.7% per annum and that the interest rate will still be much better than what other banks could offer in terms of fixed deposits.
I was not wrong. In fact, the October 2022 Singapore Savings Bonds offers savers an average return of 2.75% per annum return over 10 years, which is more than what I have expected.
For the first 3 years, the actual per annum interest offered was 2.60% per year. The interest rate increases to 2.67% in Year 4 and then 2.74% per annum for Year 5 an Year 6.
Thereafter, the interest rate climbs to 2.81% in Year 7, then to 2.89% in Year 8 and finally 2.95% and 2.99% in Year 9 and Year 10 respectively.
I would urge savers to consider these recent tranches of Singapore Savings Bonds for the high interest rates they provide with liquidity (no lock-in or penalty for early withdrawals). However, the recent allotment per investors have been around $9,000 to $13,500 given the very attractive rates. Not only that, the maximum investment per saver is $200,000 in all tranches of Singapore Savings Bonds and I would wish that this cap be further elevated so that more Singaporeans can benefit from higher saving rates given the current inflation.
That’s it for my insights today. I Thank you once again for your support of SG STOCKS INVESTING, your Money and Lifestyle magazine! Connect with me here to follow the daily exciting and useful posts on these two blogs, Thank You for your support!
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