Singapore Savings Bonds will be issued on Oct 1, 2015

The Monetary Authority of Singapore (MAS) said on Tuesday that the Singapore Savings Bonds will be issued on Oct 1, 2015.

Interested investors will be able to apply for this much anticipated bonds from Sept 1, said Ravi Menon, MAS managing director at MAS Annual Report 2014/15 briefing.

Details of the first issue such as the amount of bonds available and the bond's interest rates will be released when applications open. A new Savings Bond will be issued every month for at least the next 5 years, so there is no need to rush for the first issuance, he said.

Singapore Savings Bonds are a special type of Singapore government securities for the individual investor.

Jacqueline Loh, MAS deputy managing director, said impact of the Singapore Savings Bonds on the banking sector will be low. Non-bank deposits of Singapore banking sector is over S$500 billion. MAS expects to issue S$2 billion to $4 billion worth of the bonds in 2015 depending on demand. The overall cap on individual investor is S$100,000, while the cap on any single issue is S$50,000.