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The latest on Singapore Savings Account Rates:

Jun 22, 2015

Apply For Singapore Savings Bonds

Apply For Singapore Savings Bonds



In the second half of 2015, the Monetary Authority of Singapore (MAS) will announce the exact dates of retail launch of Singapore Savings Bonds for purchase by Singaporeans.

To apply for Singapore savings bonds, you need to prepare the relevant documents and accounts.

In essence, you need two items. These are:

(1) Central Depository (CDP) securities account under your name.

This CDP account must have direct crediting service to a local bank account.

(2) Bank account under your name to purchase Singapore Savings Bonds.

Currently only DBS/POSB, OCBC or UOB bank accounts are accepted by MAS for purchase of Singapore Savings Bonds. More banks may join the scheme at later date.


Once you have these two accounts, you are ready to apply for Singapore savings bonds.

To directly apply for Singapore savings bonds, you can do so in two ways.

(1) visit a participating bank Automated Teller Machine (ATM) and punch the numbers to apply for your savings bonds

OR

(2) perform the bond application via online transaction using participating bank Online Banking service. Currently available only at DBS/POSB bank.



What if you don't have a CDP account? You must get a CDP security account first. The Central Depository Pte Limited ("CDP") is a wholly owned subsidiary of the Singapore Exchange Ltd ("SGX"). The minimum age to get this account is 18 years old.

For Singaporeans residing in Singapore, you can apply for an individual CDP account in the following ways.

(1) Visit CDP or any Broker who is a SGX-ST Member with your original identification documents

OR

(2) Mail in your completed application form, together with supporting documents as listed below to CDP.

Supporting identification documents requested:

•Singapore pink Identification card (NRIC)( Photocopy )
OR
•Singapore Armed Forces ("SAF") Identification card ( Photocopy )
OR
•Singapore Police Force Identification card and passport ( Photocopy )

AND

Original copy or E-statements of ONE of the following, dated within the last 3 months, which cross-references the particulars in the NRIC:

•Bank statement from any Monetary Authority of Singapore (“MAS”) licensed banks

OR
•Central Provident Fund (“CPF”) statement

OR
•Tax return

(Please note that these documents will be retained by CDP)


More information at CDP Customer Service:

Central Depository
9 North Buona Vista Drive
#01-19/20
The Metropolis
Singapore 138588

Operating Hours
•Monday to Friday - 8.30am to 5.00pm
•Saturday - 9.00am to 12.30pm
•Closed on Sundays & Public Holidays



Thanks for reading Singapore Savings Account Rates, to stay in touch with the latest, the best and the highest savings account interest rates updates in Singapore.

The Team

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