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A Singapore Government Agency Website

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 1. Home
 2. Bonds & Bills
 3. Investing in Singapore Savings Bonds
 4. How to Redeem

Decrease font size Increase font size Print this page


INVESTING IN SAVINGS BONDS

You can hold your Singapore Savings Bonds until they mature, or you can redeem
them early for up to the full amount, plus accrued interest. Unlike SGS bonds
and T-bills, Savings Bonds cannot be bought or sold in the open market.


TOPIC LINKS

 1. Product Information
 2. How to Buy
 3. How to Redeem
 4. Allotment for Oversubscribed Issues


HOW TO REDEEM




WHEN YOUR BOND MATURES

Each Savings Bond has a term of 10 years. At the end of 10 years, your principal
and the last interest payment will be automatically credited to the bank account
linked to your CDP account (for cash applications), or to your SRS account (for
SRS applications).

You do not need to take any action, and the $2 transaction fee does not apply.


REDEEMING EARLY

You can redeem your Savings Bonds in any given month before the bond matures,
with no penalty for exiting your investment early. 

To redeem, submit your request by the closing date through the following
channels:

 * Cash investments - DBS/POSB , OCBC  and UOB  internet banking or ATMs, and
   OCBC's mobile application.
 * SRS investments - Redemption requests for Savings Bonds purchased with SRS
   funds can only be made online through your SRS Operator.

Key details

Redemption period
 * Opens at 6pm on the 1st business day of the month.
 * Closes at 9pm on the 4th last business day of the month.
 * Operating hours: 7am to 9pm, Monday to Saturday (excluding Public Holidays).

Redemption amount

Redeem in multiples of $500 up to the amount you have invested for each bond.
You can redeem more than one bond per month.

Fees $2 transaction fee by the bank for each redemption request.

Please note that you will not be able to amend or cancel submitted redemption
requests.


AFTER YOU SUBMIT YOUR REQUEST

You will receive the amount you requested in full, along with any accrued
interest, by the 2nd business day of the following month. 

 * For cash investments, the money will be credited as a single amount to the
   designated bank account that is linked to your individual CDP Securities
   account.
 * For SRS investments, the money will be credited to your SRS account.


HOW MUCH INTEREST WILL YOU RECEIVE?

Savings Bonds pay interest every 6 months. If you redeem your bond when there is
a scheduled interest payment, you will receive the scheduled interest together
with your redemption amount.

If you redeem before the scheduled interest is paid, you will receive a
pro-rated amount, called the accrued interest, which is the interest you have
earned but have not been paid.

Calculate accrued interest


Example - How Accrued Interest Works



Suppose you bought $1,000 of Savings Bonds issued in January that is scheduled
to make an interest payment of $6 in July.

If you submit a request in June to redeem the full $1,000 of your January bond,
you will receive by the end of the 2nd business day of July:

 * Your redemption amount of $1,000.
 * Your scheduled interest payment of $6.

However, if you decide to redeem in March instead, you will receive by the end
of the 2nd business day of April:

 * Your redemption amount of $1,000.
 * Three months' worth of accrued interest (Jan to Mar), which is about $3.

The actual amount of accrued interest paid out on each redemption date is
calculated as follows:





Previous How to Buy
Next Allotment for Oversubscribed Issues



MONETARY AUTHORITY OF SINGAPORE


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© 2022, Government of Singapore.Last updated on 05 Jul 2019