MAS offers $300m of Singapore Savings Bonds for January

The Monetary Authority of Singapore (MAS) announced that up to $4 billion of Savings Bonds will be offered in 2016, and up to S$300 million will be available for the January series.

Applications for the January series started Tuesday at 6pm and will be opened till Dec 28 at 9pm, said MAS in a statement on Tuesday.

The first Savings Bond of 2016 (SBJAN16) will be issued on Jan 4, 2016.

A new Savings Bond will continue to be issued every month.

MAS reminded interested investors that they must have an Individual Central Depository (CDP) Securities account with Direct Crediting Service (DCS) activated.

CDP helps investors keep track of their Savings Bond holdings and facilitates the crediting of Savings Bond interest payments into investors' bank accounts.

Investors who already have Individual CDP Securities accounts should check that DCS has been activated before applying for Savings Bonds.

The issuance calendar for 2016, which sets out the key application and issuance dates, can be found on the Savings Bond website.

For more information, please visit the Savings Bonds website at www.sgs.gov.sg/savingsbonds or call the Savings Bonds hotline at 6221-36823.

wjeanne@sph.com.sg