Business

MAS: $2b worth of Savings Bonds on offer in 2017

The Monetary Authority of Singapore (MAS) announced yesterday that up to $2 billion of Savings Bonds will be offered next year.

The first bond will be issued on Jan 3, and up to $150 million will be available.

A new savings bond will be issued every month.

The 10-year average annual return from the bond is above 2 per cent, MAS said.

The issuance calendar for next year, which sets out the application and issuance dates, can be found on the savings bond's website.

People can apply for the first bond from now till Dec 27.

Interested investors are reminded that they must have an individual Central Depository (CDP) Securities account with the activated direct crediting service.

CDP helps investors keep track of their savings bond holdings and facilitates the crediting of interest payments into bank accounts.

investmentSingaporeMonetary Authority of Singapore