MAS unveils up to $2b of savings bonds to be offered in 2017

The first bond will be issued on the January 3.

The Monetary Authority of Singapore announced that up to $2b of Savings Bonds will be offered in 2017.

MAS noted that the first bond will be ussed on January 3, and up to $150m will be available. A new savings bond will be then issued every month.

Those who are interested are given from December 1 to December 27 to apply.

"Interested investors are reminded that they must have an Individual Central Depository (CDP) Securities account with Direct Crediting Service (DCS) activated," MAS pointed out.

It added, "CDP helps investors keep track of their Savings Bond holdings and facilitates the crediting of Savings Bond interest payments into investors’ bank accounts. Investors who already have Individual CDP Securities accounts should check2 that DCS has been activated before applying for Savings Bonds."