facebookRedeeming my SSB investment early - Seedly

Anonymous

Edited 16 Sep 2023

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General Investing

Redeeming my SSB investment early

I made my SSB investment in 2018 and at that time, the interest rate was 2.6%. Now the rate has increased to 3%. Thinking of redeeming it early and re-investing it in SSB. Will there have any implications?

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Discussion (14)

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No Complication.

just make sure u have enough cash flow.

I think just the transaction costs of selling and buying.

Not much implications except the below mentioned by others

You have another 5 years to go on your existing SSB.

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Calculate the interest gained due to the increased interest rate on the amount you are swapping.

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Generally no penalties for early redemption for SSB. You'll even get the interest accrued up to point of redemption.

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Also take into account the fees per subscription/redemption.

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Check that you have a net gain and decide if the net gain is worth your effort/time.

Ngooi Zhi Cheng

22 Sep 2023

Student Ambassador 2020/21 at Seedly

Redeeming your Singapore Savings Bond (SSB) investment early to take advantage of a higher interest ...

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