As a resident of Singapore, you’ll have heard of the Singapore Financial savings Bonds (SSB). It’s one of many extra frequent and low threat choices for Singaporeans to take a position their cash to combat inflation in Singapore. However what precisely are Singapore Financial savings Bonds and why must you put money into them?
First, let’s speak about inflation. For reference, the Financial Authority of Singapore (MAS) Core Inflation in Aug 2024 continued to fall to 2.2% from 2.4% in earlier month. Having mentioned that, which means the costs of products and companies are nonetheless rising, and the worth of your cash is lowering over time. Investing in Singapore Financial savings Bonds may help defend your cash from depreciating on account of inflation.
The rate of interest for SSB adjustments each month with every situation, and this month the rate of interest proceed to go right down to 2.56%. If you happen to make investments $1,000 on this situation of Singapore Financial savings Bonds and maintain it for the complete 10 years, you’ll get…
