Sunday, 29 April 2018

(post 19/week 18)tipforthought:Singapore saving bond(SSB) is good but i do not have any!

5.An interesting article to read this week

Link:https://blog.seedly.sg/investment-products-below-1000/

Summary:

There are various product in the market that requires less than $1000 to invest
1.Singapore saving bond(SSB) which require a minimum amount of $500
2.Robo-adviser(smartly,autowealth,stash-away)
3.Sti ETF and abf Singapore bond via regular saving plan(posb)
4.Money market fund(FundsuperMart)

Just to add on one more product...

5.Peer to peer lending(moolahsense, funding societies)

Why invest in Singapore saving bond(SSB)?

  • Singapore saving bond(SSB) has an advantage over other instruments such as your saving account and fixed deposit
  • ·It's government-backed(AAA credit rating)
  • ·It's just require a minimum amount of $500 to invest and its return is above 1-2% per annum


To me, Singapore saving bond(SSB)belong to the lowest level of investment, level 1(low-risk low return) but I think it is more reliable than either money market fund or those insurance saving plans that are introduced to you by an insurance agent

Being young and being greedy(Laughs), I do not have any Singapore saving bond but just for information sake, here is how you can buy Singapore saving bond

Research link:http://www.sgs.gov.sg/savingsbonds/Your-SSB/How-to-buy.aspx

  • Step 1: Open an account with any of our Singapore local bank(DBS/POSB, OCBC, UOB)
  • Step 2.Open a CDP securities account with any of our Singapore local bank brokers preferably with our local bank brokers for easy access and convenience, just head down to the bank to apply(DBS VICKERS, OCBC SECURITIES, UOB KAY HIAN)
  • As for me, I open an account with DBS VICKERS by visiting our Singapore invest fair at 2016 when I turn 20 that year
  • Step 3: Buy Singapore saving bond(SSB) via online banking or through ATM(there is a transaction fee of $2)
  • Step 4: Sit back and collect your interest every 6 months (it will be pay to your bank account that is linked to your CDP account)
  • Step 5: Lastly, get out there and start applying the Singapore saving bond today!


The most important advice is to not procrastinate, get out there and start now and start early because everyone learns best from experience, remember no one has more interest in your money than you!

Next week, I think it's finally time to talk about my posb invest saver plan back from 2016(probably going to be a long one), do look out for my post!

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