From the above, we can see that the SSB offers a lower interest rate at 3.16 per cent but at a much lower minimum deposit amount, at S$500, than the Fixed Deposit Account which has an interest rate of 3.45 per cent and a minimum deposit amount of S$10,000. However, the tenure for the SSB is also much longer, at 10 years, as compared to the tenure for the Fixed Deposit Account which is just six months.
2) SGS is transferable and can be traded on the secondary market — at DBS, OCBC, or UOB branches; or on SGX through securities brokers.The fixed income investment vehicles as above are all viable options for any investor. Depending on your risk appetite, desired tenure and preference for liquidity, any of the alternatives could be a good addition to your investment portfolio.
There are two simple ways to apply — either via Cash or via Supplementary Retirement Scheme by the internet banking portal of your SRS operator.b) An individual CDP Securities account with Direct Crediting Service activated.a) Log in to your bank’s internet banking, ATM, or OCBC’s mobile banking app. Be sure to have your CDP account number with you.
Take note that application requests cannot be amended and canceled. SSB also cannot be applied for at the bank counters.a) MAS will allot the latest SSB to the applicants on the 3rd last business day of each month . You may check the application results on MAS’ website at 3pm on the Allotment Day.c) Your SRS operator will notify you by mail, of the amount of SSB that has been allotted to you. You may also choose to check your allotment and holdings with your SRS operator.
Source: Loan Digest (loandigest.net)
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