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

Invest online

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.

How to apply

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:

Cash

Supplementary Retirement Scheme (SRS)

Central Provident Fund Investment Scheme (CPFIS)*

*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

Terms and conditions

Terms and conditions governing Singapore Government Securities

Terms and conditions governing Singapore Savings Bonds

Important notices

User guide on applying for Singapore Savings Bonds via OCBC ATM

User guide on redeeming Singapore Savings Bonds via OCBC ATM

General Disclaimer

This advertisement has not been reviewed by the Monetary Authority of Singapore.
Information presented as at 14 February 2020.

ways to invest

Start investing in Singapore Government Securities today

Invest online

or visit us at a branch to open an account immediately.

Locate a branch
ways to invest

Start investing in Singapore Government Securities today

Invest online

or visit us at a branch to open an account immediately.

Locate a branch
FAQs
Common questions
More questions and answers
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 are successfully allotted by 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 are successfully allotted by MAS, the earmarked amount will be released & revised amount will be earmarked based on the allocation amount, 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 CPF Investment Account or CPF Special Account, you would only know the outcome of your application on the Issue date.
Issue date If you are successful in your application, your holdings will be credited to your CDP account. Please login to your CDP account. The allocation amount, less the discount (based on the cut-off price), will be deducted and displayed in your SRS Transaction.

If you are successful, you should check your SRS Account online to view your holdings.		 If you applied using a CPF Investment Account or CPF Special Account, check your Ordinary Account (OA) & Special Account (SA) via the CPF portal for the allotment results.

If you are successfully allotted by 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
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

General disclaimer

  1. Any opinions or views of third parties expressed in this document are those of the third parties identified, and do not represent views of Oversea-Chinese Banking Corporation Limited (“OCBC Bank”, “us”, “we” or “our”).
  2. This information is intended for general circulation and / or discussion purposes only. It does not consider the specific investment objectives, financial situation or needs of any particular person.
  3. Before you make an investment, please seek advice from your Relationship Manager regarding the suitability of any investment product taking into account your specific investment objectives, financial situation or particular needs.
  4. If you choose not to do so, you should consider if the investment product is suitable for you, and conduct your own assessments and due diligence on the investment product.
  5. We are not making an offer, solicit to buy or sell or subscribe for any security or financial instrument, enter into any transaction or participate in any trading or investment strategy with you through this document. Nothing in this document shall be deemed as an offer or solicitation to buy or sell or subscribe for any security or financial instrument or to enter into any transaction or to participate in any particular trading or investment strategy.
  6. No representation or warranty whatsoever in respect of any information provided herein is given by OCBC Bank and it should not be relied upon as such. OCBC Bank does not undertake an obligation to update the information or to correct any inaccuracy that may become apparent at a later time. All information presented is subject to change without notice.
  7. OCBC Bank shall not be responsible or liable for any loss or damage whatsoever arising directly or indirectly howsoever in connection with or as a result of any person acting on any information provided herein.
  8. Investments are subject to investment risks, including the possible loss of the principal amount invested. The information provided herein may contain projections or other forward-looking statements regarding future events or future performance of countries, assets, markets or companies. Actual events or results may differ materially. Past performance figures, predictions or projections are not necessarily indicative of future or likely performance.
  9. Any reference to a company, financial product or asset class is used for illustrative purposes and does not represent our recommendation in any way.
  10. The information in and contents of this document may not be reproduced or disseminated in whole or in part without the Bank’s written consent.
  11. OCBC Bank, its related companies, and their respective directors and/or employees (collectively “Related Persons”) may, or might have in the future, interests in the investment products or the issuers mentioned herein. Such interests include effecting transactions in such investment products, and providing broking, investment banking and other financial services to such issuers. OCBC Bank and its Related Persons may also be related to, and receive fees from, providers of such investment products.
  12. You must read the Offer Document/Indicative Term Sheet/Product Highlight Sheet before deciding whether or not to purchase the investment product, copies of which may be obtained from your relationship manager.
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  14. There are links or hyperlinks which link you to websites of other third parties (the “Third Parties”). OCBC Bank hereby disclaims liability for any information, materials, products or services posted or offered on the website of the Third Parties.

How to apply

Apply/update via CDP website 
Individual and Joint-Alternate account holders can apply or change their DCS bank account details online through the CDP website.

Apply/update via an application form
Joint and Corporate account holders can complete the CDP Services form and mail the signed form to CDP’s address indicated on the form.