I'm thinking of investing in SSB. Is there a monthly contribution necessity or can I just park one lump sum from the get go and let it stay there? - Seedly
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Anonymous

Asked on 19 Oct 2018

I'm thinking of investing in SSB. Is there a monthly contribution necessity or can I just park one lump sum from the get go and let it stay there?

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Geraldo L.
Geraldo L.
Level 7. Grand Master
Answered on 25 Feb 2020

No requirements for monthly contribution, just take note that you need to purchase it in blocks of $500 (plus a $2 transaction fee regardless of total quantity).

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šŸ‘
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Rais M
Rais M
Level 7. Grand Master
Answered on 25 Feb 2020

This is a do it yourself investment. If you want to have a monthly recurring interest income, you can consider investing for each month for 6 months straight as it pays interest every 6 months.

Otherwise, 1 lump sump is also good.

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šŸ‘
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MT2020
MT2020
Level 7. Grand Master
Answered on 25 Feb 2020

There is no monthly contribution. If you want to buy monthly, you will have to buy new bonds issued every month. The rates for the bond will change every month.

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Gabriel
Gabriel
Level 8. Wizard
Answered on 19 Oct 2018

For the Singapore Savings Bond, it isn't a monthly contribution necessity. You can just park one lump sum and let it stay there.

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Png Cheng Xi Damien
Png Cheng Xi Damien, Happy Life Seeker at Home
Level 6. Master
Answered on 19 Oct 2018

Ssb is basically a bond. You can only apply every opening and there's a cap of 100k across all the successful applications. I suggest doing one huge sum to reduce your cost ($2 each application and redemption) . Do note that it's via balloting so you may or may not get the full sum you applied for.

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