Do we need to invest $500 monthly if we want to invest in SSB? Or we can just pay a one time off thing of $500 in the initial phase and invest another $500 in the near future? - Seedly

Investments

Asked by Anonymous

Asked on 05 Oct 2018

Do we need to invest $500 monthly if we want to invest in SSB? Or we can just pay a one time off thing of $500 in the initial phase and invest another $500 in the near future?

I’m an undergraduate that is soon graduating and I have some excess cash of $500.

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Nicholas Chan
Nicholas Chan
Level 5. Genius
Answered on 06 Oct 2018

I think it's better u keep the $500 with you; it's $2 to put in & another $2 to withdraw. When u start earning an income, then put more in.

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If you can do a larger one time investment this would save on the 2dollars cost to invest.

unless you are looking to build a bond ladder where you get monthly payouts to your DBS multiplier account

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Jonathan Chia Guangrong
Jonathan Chia Guangrong, Fund Manager at JCG Fund
Level 6. Master
Answered on 06 Oct 2018

Minimum of $500 to start, excluding the nominal fee to buy into the bond. Once you have the next $500, you can't put it into the same issue as the previous one you made and it will have to in the current bond issue. Hope this helps

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Jay Liu
Jay Liu, Sleepyhead at Land of Dreams
Level 6. Master
Answered on 05 Oct 2018

1 time off thing per issue. In the future if you want to invest on SSB again, it'll be another issue. Will reflect on CDP on the issue you're holding.

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Gabriel Lee
Gabriel Lee
Level 6. Master
Updated on 07 Jun 2019

Hi, it is a one time off thing of $500 for that particular month's bond which you can check out in the link below. You can then invest another $500 in the near future.

http://www.sgs.gov.sg/savingsbonds/Your-SSB/This-months-bond.aspx

Also, check out this article from MoneySmart to better understand SSB - https://blog.moneysmart.sg/invest/singapore-savings-bonds-review/

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Gabriel Lee
Gabriel Lee

05 Oct 2018

Yes if you have spare cash lying around and plan to keep it in for a few years. It offers a decent and higher rate of return as compared to most savings accounts, plus it's safe and flexible as you can withdraw anytime
Gabriel Lee
Gabriel Lee

06 Oct 2018

Seedly just released an article yesterday which covers your question too! https://blog.seedly.sg/guide-investing-singapore-savings-bond-ssb-interest-rate-how-to-buy/