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.
June 2020 SSB gives an average interest rate of 0.80% 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 “SBJUL20 GX20070W” in your CDP statement or “GX20070W” in your SRS statement and “ CDP-SBJUL20 ” in your bank statement.
The 1st interest payment will be made on 01 Jan 2021, and subsequently every six months on 01 July and 01 Jan every year.
If you invest $1000, you will receive $81 in interest if you hold the bond till maturity in July 2030.
Yearly and average interest rates as below.
Timeline for Application and Redemption
Past Month SSB Rates
|Mth||Yr 1||Yr 2||Yr 3||Yr 4||Yr 5||Yr 6||Yr 7||Yr 8||Yr 9||Yr 10||Yearly Average|