MAS: $2 billion of Savings Bonds will be offered in 2017

The Monetary Authority of Singapore (MAS) has announced on Thursday (1 December) that Singapore Savings Bonds of up to $2 billion, will be offered in 2017.

It said that the first Savings Bond of 2017 (SBJAN17) will be issued on 3 January 2017, and up to $150 million will be available. A new Savings Bond will continue to be issued every month.

The issuance calendar for 2017, which sets out the application and issuance dates, can be found on the Savings Bond website.

MAS noted that individuals may apply for the SBJAN17 bond from 6.00pm on 1 December 2016 to 9.00pm on 27 December 2016¹.

Investors may apply through DBS/POSB, OCBC and UOB ATMs or through DBS/POSB’s Internet Banking portal. With the exception of 1 December 2016, these application channels will be open from 7.00am to 9.00pm from Mondays to Saturdays, excluding Public Holidays. On 1 December 2016, these channels will be open from 6.00pm to 9.00pm.

Here is the public notice contains the full terms of issue for this Savings Bond, including the schedule of interest rates :

MAS stated that interested investors are reminded that they must have an Individual Central Depository (CDP) Securities account with Direct Crediting Service (DCS) activated. CDP helps investors keep track of their Savings Bond holdings and facilitates the crediting of Savings Bond interest payments into investors’ bank accounts. Investors who already have Individual CDP Securities accounts should check² that DCS has been activated before applying for Savings Bonds.

Investors can call the CDP hotline (6535-7511) to enquire about DCS activation. The CDP hotline operating
hours are: Mondays to Fridays (8.30am to 5.00pm), Saturdays (9.00am to 12.30pm), excluding Public Holidays. Investors who receive cheques from CDP for dividend payments do not have DCS activated for their accounts.

For more information, please visit the Savings Bonds website at www.sgs.gov.sg/savingsbonds or call the Savings Bonds hotline at 6221-3682³.