MAS to open Singapore Savings Bonds to SRS funds, double individual limit
The Monetary Authority of Singapore will allow individual investors to buy Singapore Savings Bonds (SSB) using their Supplementary Retirement Scheme (SRS) funds and will double the limit of the holdings of such bonds.
Starting 1 February 2019, individuals can hold up to S$200,000 of SSB, bought using cash and SRS funds, according to a statement from the central bank on Monday (17 December).
This will expand the range of products available top SRS members and help them save and plan for retirement, MAS said. The SSB programme has garnered approximately S$3.7 billion of investments from close to 100,000 individual investors since its launch in October 2015.
Investors may submit applications through the internet banking portals of their respective SRS operators – DBS/POSB, OCBC Bank and United Overseas Bank. Similar to cash applications, the minimum application amount is S$500 and a S$2 transaction fee will be deducted from investors for each application.
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