Up to S$2b Savings Bonds on offer for 2017

THE Monetary Authority of Singapore (MAS) said on Thursday that up to S$2 billion of 10-year Savings Bonds will be offered in 2017. The first Savings Bond of 2017 will be issued on Jan 3, 2017, and up to S$150 million will be available. A new Savings Bond will continue to be issued every month, it said.

Next year's offering is half of that offered for 2016. Applications have been slow though with interest rates on the rise, they may pick up.

The Savings Bond for Jan 1, 2017 is offering an interest rate of 0.91 per cent for the first year. The first year interest rate for December Savings Bond was 0.87 per cent.

The issuance calendar for 2017, which sets out the application and issuance dates, can be found on the Savings Bond website http://www.sgs.gov.sg/savingsbonds.