Here's how aspiring investors can apply for Singapore Savings Bonds

The first bond will be issued in 2H15.

The Monetary Authority of Singapore (MAS) today issued information on how investors can apply for Singapore Savings Bonds.

To apply, individuals will need an account with one of the participating banks, currently DBS/POSB, OCBC, and UOB.

Investors will also need an individual Central Depository (CDP) Securities account with direct crediting
service (DCS).

DCS allows Savings Bond payments to be made directly to the individual’s DCS-linked bank account. Individuals need to be at least 18 years old to open an individual CDP Securities account.

A new Savings Bond will be issued monthly, and applications for each issue will open on the first business day of each month and close four business days before the end of the month.

All application and redemption requests will be processed three business days before month’s end.

Individuals will be able to apply for and redeem Savings Bonds through DBS/POSB, OCBC or UOB ATMs; or via DBS/POSB internet banking channels.

Investors will be able to apply for each Savings Bond issue with as little as $500, with an upper limit $50,000. Individuals will be able to hold up to $100,000 of Savings Bonds at any point in time.

MAS will announce the issuance size for each Savings Bond issue before application opens. Should the total demand for Savings Bonds exceed the amount on offer in a particular month, MAS will allocate the bonds so as to maximise the number of successful applicants.