Bonds are debt instruments issued by governments and corporations, and can be denominated in Singapore Dollar or any foreign currency.
Usually, each bond issue has a fixed interest rate, which is also known as coupon, and it has tenure, ranging from 1 month to 30 years. Upon maturity, the issuer repays the "face value" of the security in full, along with any residual coupon payment outstanding.
Current Bill Market Development
Structured Notes are debt instruments structured to link possible coupon payments or the market value of the Notes to the performance of underlying financial instruments or markets. Structured Notes consist of these underlyings, which may include, but are not limited to the movement of interest rates, equities, indices, credit markets or even, a basket of these instruments. The structures usually have one or more embedded options or may employ other derivatives strategies. Investments in Structured Notes may not have principal repayment at maturity, and where principal repayment at maturity is provided, it is with certain conditions, including, inter alia, that the Structured Notes are held until maturity and are subject to the credit risk of the Issuer of such Structured Notes.
SGS Bond Prices and Yields - All Issues by Issue code
These securities are obligations only of the issuer. Unless otherwise stated, they are not bank deposits or obligations of or guaranteed by Citibank Singapore Limited, Citigroup, Inc. Prices of bonds can be volatile and past performances are not indicative of future performance. Investors investing in securities denominated in non-local currency should be aware of the risk of exchange rate fluctuations that may cause a loss of principal. Exchange controls may be applicable from time to time to certain foreign currencies. So Singaporeans who previously turned up their noses at Singapore Savings Bonds are now starting to take notice.
Singapore Government Bonds - Yields Curve
In fact, it was oversubscribed in early Because Singapore Savings Bonds gives you good returns with virtually zero risk. SSBs are arguably safer than putting your money in a savings account, because banks can close down, but the sun never sets on the Lee empire. In return for your generosity in loaning them your hard-earned money, the Government will pay you interest every 6 months, like clockwork.
Finally, SSBs also let you choose how long you want to invest, without any lock-in period. When you buy a bond, you lend money to the issuer.
The issuer in this case is the Singapore government. What are the returns like? The interest rate steps up each year you keep your bonds.
You can check the monthly bond rate at the Singapore Savings Bonds official website: www. This is easy to get hold of. Note that there are two sets of numbers — interest rate and average return per year. This is because the interest rate steps up every year. You get 1.
If you withdraw after Year 2, your actual returns from the entire investment averages out to 1. The exact numbers change monthly because new bonds are issued every month. However, the rates have been pretty good in recent times, particularly for short tenures. In October , the average interest for 1 year was only 0. See what I mean?
Apart from a Singapore Savings Bond, you can also place it in a fixed deposit account and get a promotional rate like 1. Most Singaporeans already have a bank account with one of these 3 local banks. If you do, go ahead and open an individual CDP account by following the steps on the website.
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Have your CDP account number handy for that. After the application period closes, you have to wait till the end of the month to find out if you have secured the bond. Bonds are officially issued by the 1st business day of the following month. After which, you can start receiving interest payments every 6 months.