Introduction
Singapore Savings Bonds (SSBs) are a type of government bond issued by the Monetary Authority of Singapore (MAS). They are a safe and secure way to save money and earn interest. SSBs are available in denominations of S$1,000, S$5,000, S$10,000, S$50,000, and S$100,000. The interest rate on SSBs is fixed for the entire term of the bond.
How to Sell Singapore Savings Bonds
There are 3 ways to sell Singapore Savings Bonds:
Over-the-counter (OTC)
- Visit any DBS/POSB branch
- Fill up the OTC sales form
- Submit the form together with your SSB certificate(s)
ATMs (DBS/POSB only)
- Insert your DBS/POSB ATM card into the ATM
- Select the “Sell SSB” option
- Enter the amount of SSB you wish to sell
- Confirm the transaction
Internet Banking (DBS/POSB only)
- Log in to DBS/POSB Internet Banking
- Select the “Sell SSB” option
- Enter the amount of SSB you wish to sell
- Confirm the transaction
Note: You will need to have a DBS/POSB bank account in order to sell SSBs online or via ATM.
Fees and Charges
There are no fees or charges for selling SSBs.
Tax Implications
The interest earned on SSBs is tax-free. However, if you sell your SSBs before the maturity date, you may be liable to pay capital gains tax.
Important things to note:
- The minimum amount of SSB you can sell is S$1,000.
- You can only sell SSBs that are in your own name.
- You will need to provide your original SSB certificate(s) when you sell your SSBs.
- The proceeds from the sale of your SSBs will be credited to your DBS/POSB bank account within 3 business days.
Conclusion
Selling Singapore Savings Bonds (SSBs) is a convenient and straightforward process. You can sell your SSBs over-the-counter at any DBS/POSB branch, via ATM (DBS/POSB only), or via Internet Banking (DBS/POSB only). There are no fees or charges for selling SSBs. The interest earned on SSBs is tax-free. However, if you sell your SSBs before the maturity date, you may be liable to pay capital gains tax.
