Singapore, 11 May 2015…The Monetary Authority of Singapore (MAS) today released more information on how investors can buy and redeem Singapore Savings Bonds. MAS expects the first Savings Bond to be issued in the second half of 2015. MAS will announce the programme launch date at least one month before applications for the first issuance open.
2 Savings Bonds are a new type of Singapore Government Securities (SGS) designed to offer individuals a long-term, flexible savings option with safe returns. They will provide individuals with more options to save and invest to meet their long-term financial needs.
3 To apply for Savings Bonds, individuals will need:
a. A bank account with one of the participating banks (currently DBS/POSB, OCBC or UOB1); and
b. An individual Central Depository (CDP) Securities account with direct crediting service (DCS). DCS allows Savings Bond payments to be made directly to the individual’s DCS-linked bank account. Individuals need to be at least 18 years old to open an individual CDP Securities account. To find out how to open a CDP Securities account or activate DCS for an existing CDP Securities account, please refer to www.sgx.com/cdp/faq.