OCBC Singapore Government Securities (SGS) | Bonds & Treasury Bills

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. 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:

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.

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 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:

  • The application to apply for or redeem the bonds must be made during a valid auction or redemption period. For more information on the available dates, please refer to MAS’ website. Do note that there may be some months when certain bonds are not available.
  • For cash applications, you must have a valid CDP Securities Account with Direct Crediting Service enabled.
  • For applications funded using Supplementary Retirement Savings (SRS) Account, you must have an SRS Account with OCBC.
  • Your CDP account information (ID numbers, etc.) must match the information you have provided to OCBC.
How can I apply for SSB?
  • Ensure that you have an individual CDP Securities Account linked to your OCBC Account through Direct Crediting Service. We cannot accept applications from a joint CDP Securities Account.
  • Application is only available from Monday to Saturday; 7am to 9pm (excluding public holidays).
  • A non-refundable transaction fee of SGD 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 funding mode Cash OCBC SRS Account Balances
ATM, OCBC app/Internet Banking OCBC app/Internet Banking
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:

Investment Funding Mode Cash OCBC SRS Account CPF (OCBC CPF-IA Holders only)
ATMs, OCBC app/Internet Banking OCBC app/Internet Banking OCBC app/Internet Banking OCBC branches
Start of applications 6pm on the day of announcement Date 6pm on the day of announcement Date The day of announcement
Application availability OCBC app/Internet Banking: Monday to Saturday; 7am to 9pm (excluding public holidays)
OCBC branches (for our branch opening hours, please visit OCBC website > Personal Banking > ATM and branch locator)
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 CPF Ordinary Account (OA):
SGD2.50 + GST for each transaction

CPF 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.

For more information on the auction details, please visit MAS website > Bonds and Bills > Auctions and Issuance Calendar

For more information on the CPF-IA charges, please visit OCBC Website > Personal Banking > Investments > CPF Investment Account

What is the timeline of events for SGS bonds and T-bills?
Timeline Cash-funded application SRS application CPF-IA (including CPF OA / CPF SA) funded applications
On Application Date 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. Funds are not debited or earmarked when you submit your application.

The balance shown in the OCBC app/Internet Banking reflects your available investible savings after deducting your submitted investment amount.
On Auction Date If your allotment is successful:
A refund for the discount (based on the cut-off price) will be credited to your debiting account within 1–2 working days from the auction date.

If your allotment is unsuccessful:
The full application amount will be refunded to your debiting account within 1–2 working days from the auction date.		 If your allotment is successful:
The portion of funds that was not allocated will be released. The revised allocated amount will be earmarked, after deducting the discount based on the cut-off price.

If your allotment is unsuccessful:
The full earmarked amount will be released back to your SRS account balance.		 If your allotment is successful and you have sufficient CPF balance:
The allocation amount, after deducting the discount (based on the cut-off price), will be debited from your CPF-IA, CPF OA, or CPF SA account.

Please ensure that the CPF account used for application have sufficient funds to support the debit.

If your allotment is unsuccessful:
The application amount will be returned to your available investible savings and reflected in the OCBC app/internet banking.
On Issue Date If your allotment is successful: The allotted holdings will be credited to your CDP Securities Account.

Please login to your CDP Securities Account to view your allocated holdings.		 If your allotment is successful: The allotted amount, less the discount (based on the cut-off price), will be deducted and displayed in your SRS account.

Please login to your SRS account to view your allocated holdings.		 If your allotment is successful: The allotted holdings will be available for viewing on your CPF-OA and CPF-SA.
When the SGS Bonds and T-bills have matured, where will the maturity proceeds be credited into?
Cash-funded applications SRS-funded applications CPF-IA (inclusive of CPF OA and CPF SA) funded applications
How will the maturity proceeds be credited? The proceeds from the redemption will be received in the current/savings account nominated by you for Direct Crediting Service with CDP.

This may not necessarily be the OCBC Savings or Current Account used to fund the application.

To verify the current/savings account nominated for Direct Crediting Service with CDP, please login to your CDP Internet Service > Individual and Joint Account > View Account Summary > Registered Accounts > Direct Crediting Services		 SRS Account used to fund the application. For CPF funds, it will be credited either into CPF-IA or CPF SA.

If your CPF-SA is closed, the proceeds will be credited into your Retirement Account up to your Full Retirement Sum, with any remaining balances to be paid to your CPF OA.

For details of the CPF-SA closure and how it affects your CPF SA investments: CPF website > CPF Investment Schemes > FAQs. Alternatively, please contact the CPF Board.
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.
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  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.
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  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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How to apply

Apply or check 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.

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