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Singapore Savings Bonds SSB August 2020 Issue Yields 0.93% for 10 Year and 0.27% for 1 Year (Guest Post)

Singapore Savings Bonds SSB August 2020 Issue Yields 0.93% for 10 Year and 0.27% for 1 Year (Guest Post)

Here is a safe way to save your money that you have no idea when you will need to use it, or your emergency fund.

This post was originally posted here. The writer, Kyith Ng is a veteran community member and blogger on InvestingNote, with username known as Kyith and has 1051  followers.

The 10-yr and 1-yr Singapore Savings Bonds Rate since the first issue in Oct 2015

The August 2020’s SSB bonds yield an interest rate of 0.93%/yr for the next 10 years. You can apply through ATM or Internet Banking via the three banks (UOB,OCBC, DBS)

However, if you only hold the SSB bonds for 1 year, with 2 semi-annual payments, your interest rate is 0.27%/yr.

$10,000 will grow to $10,946in 10 years.

This bond is backed by the Singapore Government and its available to Singaporeans.

A single person can own not more than SG$200,000 worth of Singapore Savings Bonds. You can also use your Supplementary Retirement Scheme (SRS) account to purchase.

 

You can find out more information about the SSB here.

Note that every month, there will be a new issue you can subscribe to via ATM. The 1 to 10-year yield you will get will differ from this month’s ladder as shown above.

Last month’s bond yields 0.80%/yr for 10 years and 0.30%/yr for 1 year.

Here is the current historical SSB 10 Year Yield Curve with the 1 Year Yield Curve since Oct 2015 when SSB was started (Click on the chart, move over the line to see the actual yield for that month):

The Application and Redemption Schedule

You will apply for the bonds through the month. At the end of the month, you will know how much of the bond you applied was successful.

Here is the schedule for application and redemption if you wish to sell:
Click to see larger schedule

You have 02 to about 25th of the month (technically the 4th day from the last working day of the month) to apply or decide to redeem the SSB that you wish to redeem.

Your bond will be in your CDP on the 1st of the next month. You will see your cash in your bank account linked to your CDP account on the 1st of next month.

How does the Singapore Savings Bonds Compare versus SGS Bonds versus Singapore Treasury Bills?

Singapore savings bonds is like a “unit trust” or a “fund” of SGS Bonds.

But what is the difference between you buying SGS Bonds and its sister the T-Bills directly?

Both the SGS Bonds and T-Bills are also issued by the Government and are AAA rated.

Here is an MAS detailed comparison of the three:
Click to see bigger comparison table

 

Once again, this article is a guest post and was originally posted on Kyiths profile on InvestingNote. 

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What You Should Do if You Lost Your Job Or Lost Your Income Temporarily (Guest Post)

What You Should Do if You Lost Your Job Or Lost Your Income Temporarily (Guest Post)

Which direction should you take, the urgency of how you should perform things, will depend on how great or how dire is your current situation. Here are some things that you need to evaluate…

This post was originally posted here. The writer, Kyith Ng is a veteran community member and blogger on InvestingNote, with username known as Kyith and has 967  followers.

How prepared is Washington for a recession? - Lens

I started work after we came out from SARS in 2004. So I have been through the mental aspect of not knowing if you have a job when you graduated from university.

2008 was different in that I was already working but in my old company, the email will announced new hires every week.

This COVID-19 thing is a bit different. Not sure if it is because as an almost 40 year old, there are more people being furlough or retrenched.

I have not been retrenched before. Friends have shared with me that my old place is an iron rice bowl.

In the current workplace, we are doing OK, at least for now.

I am not going to be that guy to tell you what you should do.

I have read a few stuff out there and while they point you to resources such as the Ministry of Manpower, what are your rights, where to get support aid, they do not show you money-wise how you should pivot.

I came across some of these stuff in podcasts in the past. I think they might prove useful for you at this time.

  1. A part of the content explores what you should do if you are laid off.
  2. There is also the part of the content where you are not laid off but you need to fortify your work position.
  3. Lastly, there is a little bit exploring about coming up with backup plans

Let’s minimize on flowery words and get straight to the content.

Take Stock of Your Current Situation

Which direction you should take, the urgency of how you should perform things, will depend on how great or how dire is your current situation.

Here are some things that you need to evaluate:

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