No place to park your excess funds and want a flexible place to park while gaining a not so decent yield. SSB is the place for you to park your funds.
Starting from 1st May, DBS Multiplier will reduce the interest.
May 2020 SSB gives an average interest rate of 1.17% over the next 10 years and can be applied thru DBS/POSB, OCBC and UOB ATMs and Internet Banking.
This bond will be reflected as “SBMAY20 GX20050A” in your CDP statement or “GX20050A” in your SRS statement and “ CDP-SBMAY20 ” in your bank statement.
The 1st interest payment will be made on 01 Nov 2020, and subsequently every six months on 01 May and 01 Nov every year.
If you invest $1000, you will receive $140 in interest if you hold the bond till maturity in Apr 2030.
Yearly and average interest rate as below.
Timeline for Application and Redemption
Past Month SSB Rates
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