Dear readers, there is one opportunity that many are seeking to grow their monies and in a risk-free manner.
No, I am not talking about fixed deposits.
I am talking about the Singapore Savings Bonds.
Yes, that’s right.
The September 2023 Singapore Savings Bonds closed recently on 28 Aug 23. Offering an average 3.06% per annum for 10 years, the Sep 23 Singapore Savings Bonds are popular.
With an allotment of $514.7 million, the Sep 23 Singapore Savings Bonds attract an application of $523.4 million or a subscription rate of about 1.02. This shows that the Sep 23 Singapore Savings Bonds are oversubscribed and given that earlier Singapore Savings Bonds have been undersubscribed, I believe Singapore savers are aware that high interest rates should be locked in as and when they are available and there should not be an assumption that these high rates are perpetual.
I believe some savers are saving up some liquidity for the next batch of Singapore Savings Bonds, as average 10-year interest could be potentially higher! (read about my estimate of the Oct 23 Singapore Savings Bonds here).
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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