Dear readers, the Singapore Savings Bonds (SSB) for March 2024 is now open for subscription!
In a surprising turn, the average 10-year interest rate of Mar 24 SSB does not decline further from the previous Feb 24 tranche of 2.81% per annum as expected by many, in this current climate of expected interest rates cut going forward.
In my previous post, I have even gone on to predict that the average 10-year interest rate of Mar 24 SSB will even head south to 2.50% per annum.
But I and many, in my belief are proven wrong as the March 2024 Singapore Savings Bonds provides savers with an average 10-year annual interest of 2.88%!
I would think this 2.88% sounds auspicious with the “88” as part of the interest rate, and coincides well with the current Chinese New Year festive period!
Based on the 10-year holding period of March 2024 Singapore Savings Bond, the actual annual interest rate for Year 1 to Year 6 is 2.74% per year and interest rate increases thereafter to: 2.84% (Year 7), 3.12% (Year 8) and 3.26% (for Year 9 and Year 10 each).
For savers who would want to secure decent interest rates for the longer term, the March 2024 is a decent savings bond to secure a close to 3% and risk-free interest! There is also the option to liquidate the bond for a higher interest rate Singapore Savings Bonds if any or required.
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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