Singapore Savings Bonds (SSB) is one of Singapore’s most popular fixed-income investments. SSB is a long-term 10-year Singapore government bond with the flexibility to redeem any month before maturity without penalty. Yes, it’s like a savings account with slightly less flexibility but a much higher interest rate. So, how to buy SSB?
Applying Channels
You can apply via ATM or online banking to buy SSB.
In short, here are the steps to apply via ATM:
To apply via online banking:
This guide will explore in more detail how to apply via the online banking channel with DBS, OCBC, and UOB internet banking.
Prerequisites
If you want to buy SSB with cash, you must have:
- A Singapore bank account from DBS/POSB, OCBC, or UOB.
- A CDP account with the direct crediting service (DCS) enabled.
If you do not have a CDP account yet, you can follow our step-by-step guide on how to open CDP account. CDP will be the custodian for your SSB.
For the SRS application, you will need an SRS account. Your SRS operator will be the custodian of your SSB.
| Note: You can check the latest SSB offering and the application timeline directly from the MAS website. |
How to Buy SSB – DBS
Here is the step-by-step guide on how to buy SSB via DBS online banking:
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Login to your DBS online banking account. |
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Select Invest and then choose Singapore Government Securities (SGS).
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In the option for ‘Apply for SGS,’ select Singapore Savings Bonds.
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Double-check the selected SSB issue code, then click Apply to proceed.
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On this page, enter the amount you want to apply for the SSB (in multiple of $500). Note that you cannot hold more than $200,000 of SSB at any time; that’s the maximum.
Select your payment method. If you use cash, you will need to choose your debiting bank account and fill in your CDP account number. If you choose SRS, the details should already be prefilled for you. Click Next to proceed to the confirmation page.
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On this confirmation page, please double-check your details, your CDP account number, the SSB issue code you want to buy, and the amount you want to buy.
If everything looks good, you can click the Submit button to complete the application purchase to buy the SSB.
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Congratulations, you are done with the application process!
You just need to wait until the SSB allotment date and see if you get your desired allocation. If the allocation is less than what you applied for, you will get a refund on the difference directly into your bank account. |
How to Buy SSB – OCBC
Follow this step-by-step guide on how to buy SSB via OCBC online banking:
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Login to your OCBC online banking account. |
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Under Investments & Insurance, select Singapore Government Securities.
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Click the Buy button on the Singapore Savings Bonds (SSB) box.
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On the application form, double-check on the left panel that you are applying to the correct SSB issue code.
Fill in your investment amount and CDP account number, and double-check your details. Click Preview to continue.
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On the preview page, double-check your application details. If everything looks good, click the Submit button to finish the application process to buy SSB.
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Congratulations, you are done with the application process!
You just need to wait until the SSB allotment date and see if you get your desired allocation. If the allocation is less than what you applied for, you will get a refund on the difference directly into your bank account. |
How to Buy SSB – UOB
Follow this step-by-step guide on how to buy SSB via UOB online banking:
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Login to your UOB online banking account. |
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Under the Investments tab, select IPO/Bonds/Tbills. Select SINGAPORE SAVINGS BONDS. Double-check the SSB issue code and choose the Action.
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In the form, enter your CDP account number and the amount you want to invest. Click Submit to preview your SSB application.
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On the preview page, double-check your personal and application details. If all are good, click the Confirm button to submit your SSB application.
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Congratulations, you are done with the application process!
You just need to wait until the SSB allotment date and see if you get your desired allocation. If the allocation is less than what you applied for, you will get a refund on the difference directly into your bank account. |
Seeing Your Holdings in CDP Investors Portal
Once you submit your request, you will have to wait until the Allotment date to find out if you get the full amount requested. If the allocation for the month is lower than your requested amount, you will automatically get the difference as a refund in your bank or SRS account. You don’t have to do anything.
If you get the allotment, congrats! Next, look at the issuance date of your SSB.
After the issuance date, depending on your payment method:
- If you use SRS, you can see your holdings directly from your bank’s online banking portal.
- If you use Cash, you can go to the CDP investors portal to see your SSB holdings.
FAQs
Can we buy SSB with cash without a CDP account?
No. You need the CDP account with direct crediting service enabled before applying for SSB using cash. CDP will be the custodian of your SSB. You can change your bank accounts anytime, and your bond holdings will not be affected because they are stored in the central location.
Do we need to use the same bank account for buying and redeeming?
No, you can change the bank account at any time. You can just go to your CDP account and change your direct crediting service bank account to your new one.
If I don’t get the full allotment, how will it work?
The difference between the allotment and your requested amount will be refunded directly to your bank account. There is nothing you need to do on your part.
Are there operating hours for applying for SSB online?
Yes, 7 AM to 9 PM, Monday to Saturday, excluding Public Holidays. Please plan accordingly when you want to apply for SSB.
How do I check the allotment result?
On the Allotment day (the third last business day of the month), you can check the result directly from the MAS website after 3 PM.
How do I get the interest payout?
You will get your first interest payment six months after the bond is issued. Interest will be paid out automatically to the bank account linked to the direct crediting service in your CDP account. For the SRS application, you will get it in your SRS account. There is nothing you need to do on your part.
Can I redeem and buy SSB in the same month if I have reached the maximum individual allocation of $200,000?
Yes, you can. We have been doing this many times. We call this recycling/swapping SSBs 🙂 Simply place redemption and buy applications in the same month. The catch is that you need to put in temporary extra cash for applying for the newer SSB because you have yet to receive the cash from the older SSB you want to recycle.