Singapore Government Securities

The stable choice for conservative investors

Why you will love this

Backed by the full credit of the Singapore Government

Receive a fixed stream of payments

Liquidity to buy and sell any time in the market

Who can invest

Minimum investment amount for Singapore Savings Bonds: S$500

Minimum investment amount for SGS Bonds and Treasury Bills: S$1,000

Singapore Government Securities (SGS) such as Singapore Savings Bonds, SGS Bonds and Treasury Bills are debt instruments backed by the full credit of the Government. 

Features and Benefits
Backed by the Singapore Government

Backed by the Singapore Government

The Singapore Government has been accorded the strongest credit rating by various international credit rating agencies and has a minimal probability of defaulting on its debt obligations.

Fixed payments to you

Fixed payments to you

Interest is paid to you every 6 months for Singapore Savings Bonds and SGS bonds. T-bills are sold at a discount and do not pay coupons - you will receive the face value at maturity.

Liquidity to buy and sell any time

Liquidity to buy and sell any time

Singapore Savings Bonds are purchasable and redeemable online at full principal, with accrued interest paid to you at no penalty. SGS Bonds may also be traded in the exchange, and Treasury Bills through any of our branches.

Receive your proceeds directly upon maturity

Receive your proceeds directly upon maturity

Enjoy the convenience of Direct Crediting Service (DCS) when you link your CDP Account to your OCBC Current or Savings Account at no cost. Alternatively, check your designated bank account on the CDP website.

How to apply or check via the CDP website

Making an investment

Lump sum investment

Start with a conservative minimum lump sum investment amount of S$500 for Singapore Savings Bonds or S$1,000 for SGS bonds and Treasury bills.

Ways to pay

You can purchase Singapore Government Securities using:

*Not available for Singapore Savings Bonds

Invest digitally into t-bills & SGs bonds with your cpf

To apply with your CPF OA funds, you must have CPFIA account with OCBC. Before you can invest using your CPF SA funds, you will need to complete a CPF investment scheme self-awareness questionnaire located on CPF Board website.

Before you apply
ways to invest

Start investing in Singapore Government Securities today

ways to invest

Start investing in Singapore Government Securities today

FAQs
I cannot apply for or redeem SGS Bonds or Singapore Savings Bonds(SSB). Why?

Kindly note that all the conditions set out below must be satisfied before you may apply for or redeem SGS Bonds or SSB:

  • You can only apply/ redeem for bonds during a valid auction or redemption period. You can refer to the MAS website for more information on the available dates. Please note that there may be some months where certain bonds are not available.
  • You can only apply during CDP operating hours at the time of confirmation of your bid.
  • In case of cash applications, you will also need a valid CDP account with a direct crediting service enabled.
  • In case of SRS applications, you will also need an SRS account with OCBC.
  • Your CDP account information (ID numbers, etc) must match those with OCBC Bank.
How can I apply for Singapore Savings Bonds (SSB)?

Ensure that you have an individual (not joint) CDP Securities account linked to your OCBC account through direct crediting service.

Application is only available on Monday to Saturday; 7am to 9pm (excluding public holidays).

A non-refundable transaction fee of S$2 will be charged for each application request.

CDP is the custodian for Savings Bonds and CDP will process applications, interest payments and redemptions.

Investment mode Cash SRS
(OCBC SRS Account Holders only)
ATM, OCBC Online Banking and
OCBC Digital app
OCBC Online Banking and
OCBC Digital app
Application Starts Opens at 6pm on the 1st business day of the month
Application Ends Closes at 9pm on the 4th last business day of the month
How and when can I apply for SGS Bonds and Treasury Bills on the primary market?

For the application of SGS Bonds and T-bills on the primary market, please note the various modes of application, application period, fees/charges, and the corresponding cut-off time below:

Mode of investment Cash Supplementary Retirement Scheme (SRS) funds
(OCBC SRS Account Holders only)
CPF
(OCBC CPFIA Holders only)
ATMs, OCBC Internet Banking and the OCBC Digital app OCBC Internet Banking and the OCBC Digital app OCBC Internet Banking and the OCBC Digital app OCBC branches
Start of applications 6pm on the day of announcement date 6pm on the day of announcement date The day of announcement
End of applications 9pm, one working day before the auction 9pm, one working day before the auction 11am, two working days before the auction*
Fees No charges, all application fees are waived Ordinary Account (OA):
S$2.50 + GST for each transaction
Special Account (SA):
No Charges
Ordinary Account (OA):
S$2.50 + GST for each transaction
Special Account (SA):
No Charges

*For example, if the auction will take place on 22 March 2023, you must apply before 11am on 20 March 2023.

Online application is only available on Monday to Saturday; 7am to 9pm (excluding public holidays).

For more information on the auction details, please visit the MAS’ website.

Refer to CPFIA charges.

What is the timeline of events for SGS Bonds and Treasury Bills?
Timeline Cash application SRS application CPFIA / CPF-SA
Point of application Funds will be debited from your bank account at the point of application. Funds will be earmarked from your SRS account balance at the point of application. No funds will be debited or earmarked at the point of application.
Auction date If you receive a successful allotment from MAS, a discount (based on the cut-off price) will be refunded to your debiting account within 1-2 working days from the auction date.

If you are unsuccessful in your application, the entire application amount will be refunded to the debiting account within 1-2 working days from the auction date.
If you receive a successful allotment from the earmarked amount, the unallocated earmarked amount will be released. The allocated revised amount will be earmarked, less the discount (based on the cut-off price).

If you are unsuccessful in your application, the full earmark amount will be released from your SRS account balance.
If you applied using a CPFIA or CPF-SA, you would only know the outcome of your application on the issue date.

Please ensure sufficient CPF funds for the debit.

If you receive a successful allotment from MAS & have sufficient CPF balance, the allocation amount, less the discount (based on the cut-off price), will be debited from your CPF-OA/CPF-SA account. The allocation amount will be debited between auction date and issue date.
Issue date If you are successful in your application, your allocated holdings will be credited to your CDP account.

Please login to your CDP account to view your allocated holdings.
If you are successful in your application, the allocated amount, less the discount (based on the cut-off price), will be deducted and displayed in your SRS Transaction.

Please login to your SRS account to view your allocated holdings.
If you are successful in your application, the allocated amount will be available for viewing on your CPFOA and CPFSA.
When the SGS Bonds and T-bills have matured, where will the maturity proceeds be credited into?

The proceeds will go into the account nominated in your Direct Crediting Service with CDP. This may not necessarily be your OCBC Savings or Current Account.

You may want to login to CDP portal to check on your registered account.

Login to your CDP Internet Service > Individual and Joint Account > View Account Summary > Registered Accounts > Direct Crediting Services

For CPF funds, it will be credited either into CPFIA or CPF-SA.

More questions and answers