SRS Investments

[zumaba]

The three SRS custodians don't advertise this option since they don't make much money on SGS issues, and you may get blank stares from many branch employees, but yes. I know someone who did it. It's a paper form (or possibly pair of forms) at DBS/POSB that's in their electronic form library. MAS requires them to do this if they want to be primary SGS dealers, and they do.

Note that SGSs can be called before maturity, so you still have to monitor your SRS even if your plan is to hold to maturity.

CPFIS can also be used to purchase initial issue SGSs, but that only really makes sense as a maneuver to avoid an OA "sweep" when purchasing a HDB leasehold on credit. In that case you'd purchase something with a short maturity.

First, you will need a CDP account, so go get one of those if you don't have one already. Second, you need cash in a SRS. Third, you need a Singapore Government Security you want to buy, not a Singapore Savings Bond. I provided two examples below. Fourth, you will probably have to visit a branch and ask for the SGS order form. "But wouldn't you like a horribly overpriced unit trust instead?" Be politely persistent. Eventually the fifth person asked in the branch will know what you're talking about, and they'll dig out the form. The form will ask where you want funds to come from, and that's where you put the SRS details. Fill out the form very carefully, and triple check it.

Unfortunately DBS/POSB doesn't let you conduct this particular transaction through the ATM or iBanking, but it can be done. (I'm not sure about OCBC and UOB and their Internet banking.) And it's a free transaction and free custody, except for the price of the bond.

You can also try calling DBS and asking them to get the form ready for you in the branch.

By the way, I highly recommend you put in a non-competitive bid.

Hi, BBCWatcher: thanks a lot for all the very helpful infos you updated. I did a search on web to find if SRS can be used to buy Singapore Government Securities (SGS) but the results seems not very helpful.

Could you please provide the official link that saying SRS can be used to buy SGS?

My SRS is with OCBC and I also can't find helpful infos from OCBC website too.

But I did find this info from DBS that you can use iBanking to buy SGS using CASH.

https://www.dbs.com.sg/personal/ibanking/faq/sgsbond.page

Got a bit confused now.

 

[zened88]

Thanks guys for the info.

Went down to UOB today, spent approximately an hour there trying to the get appropriate form to fill up.

The form is called: "Application for book-entry government securities".

The bank made me fill up the first part and proceeded to fax it to their "bonds department" or something.

Fingers crossed this works out!

 

[nautilus]

Thanks guys for the info.

Went down to UOB today, spent approximately an hour there trying to the get appropriate form to fill up.

The form is called: "Application for book-entry government securities".

The bank made me fill up the first part and proceeded to fax it to their "bonds department" or something.

Fingers crossed this works out!

Does UOB charge any holding fees for SGS bonds bought with SRS funds?

 

[heng_ah]

Does UOB charge any holding fees for SGS bonds bought with SRS funds?

BBCWatcher already mentioned that bank doesn't make money for this service(no fee), hence it's not advertised by them.

Anyway, the custodian is CDP : http://www.sgs.gov.sg/Individual-Investors/Bonds-and-Treasury-Bills/FAQs.aspx#22._Are_There_Any_Fees

You can clarify with UOB Treasury during office hour
Hotline (for SRS): 1800 538 8011 / 1800 388 2121

Long long time ago I ever bought non-competitive SGS T-Bills via DBS (City Hall branch).
The process was very manual. At that time, custodian was not CDP yet and can't apply thru ATM.

I have to queue and filled-in pre-defined form, submit manually at the branch. The bank will then ear-mark the amount from my savings account.

No fee incurred.

I think for purchase of SGS bond thru SRS, it will be similar process.

 

[nautilus]

Thanks Heng.

 

[Gremlin_108]

Hi!

When you buy SGS bonds with money from SRS account, will the coupons be paid back into the SRS account or can it be paid into a normal bank account?

I'm concerned that if the coupons are paid back into SRS account, then they can potentially be taxed when they are withdrawn after retirement age?

 

[apatheticme]

Hi!

When you buy SGS bonds with money from SRS account, will the coupons be paid back into the SRS account or can it be paid into a normal bank account?

I'm concerned that if the coupons are paid back into SRS account, then they can potentially be taxed when they are withdrawn after retirement age?

Pretty sure any money made with SRS monies will be going to the SRS account. Which means if you still intend to have high income when withdrawing from it, you are essentially subjected to taxes on capital gains and dividends.

 

[kitkat2]

anyone has any luck with buying sgs with srs at ocbc?

went to ocbc to ask to buy sgs with my srs. after waiting 20 mins the lady came back and said sgs can ve bought using cash only and offered me insurance and structured deposit instead!

 

[kitkat2]

Thanks guys for the info.

Went down to UOB today, spent approximately an hour there trying to the get appropriate form to fill up.

The form is called: "Application for book-entry government securities".

The bank made me fill up the first part and proceeded to fax it to their "bonds department" or something.

Fingers crossed this works out!

which uob branch did you go to?

 

[w1rbelw1nd]

Rubbish. I am pretty sure at the very least you can buy SGS for those that are currently traded in sgx.

anyone has any luck with buying sgs with srs at ocbc?

went to ocbc to ask to buy sgs with my srs. after waiting 20 mins the lady came back and said sgs can ve bought using cash only and offered me insurance and structured deposit instead!

 

[ntoken]

Rubbish. I am pretty sure at the very least you can buy SGS for those that are currently traded in sgx.

yes, arnd 2 yrs ago i have purchased SGS secondary market bond from SGX and its reflected in SRS account, coupon goes back into SRS account

 

[OCBC Bank]

anyone has any luck with buying sgs with srs at ocbc?

went to ocbc to ask to buy sgs with my srs. after waiting 20 mins the lady came back and said sgs can ve bought using cash only and offered me insurance and structured deposit instead!

Hi kitkat2,

We came across your post and though to share that purchases for Singapore Savings Bonds can be made via OCBC internet banking and/or our ATMS.

You may find more information at these links below:

https://www.ocbc.com/personal-banking/investments/singapore-government-securities.html

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

^WX

 

[limpoop]

Hi kitkat2,

We came across your post and though to share that purchases for Singapore Savings Bonds can be made via OCBC internet banking and/or our ATMS.

You may find more information at these links below:

https://www.ocbc.com/personal-banking/investments/singapore-government-securities.html

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

^WX

He was asking how to buy SGS bonds using SRS funds and why you mentioned SSB instead?

 

[heng_ah]

Hi kitkat2,

We came across your post and though to share that purchases for Singapore Savings Bonds can be made via OCBC internet banking and/or our ATMS.

You may find more information at these links below:

https://www.ocbc.com/personal-banking/investments/singapore-government-securities.html

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

^WX

OCBC

SGS Bond vs SSB Bond
 傻傻分不清楚; sha sha fen bu qing chu ...

 

[heng_ah]

which uob branch did you go to?

For UOB, you can go to any branch, because none of them will be familiar with SRS SGS Bond submission.

Ask them to contact their colleague at "Global Markets Operations Center" for guidance. Contact the following personnel :

[The information counter staff assisted me was at Bedok, perhaps she forgot the steps already]

 

[lzydata]

Judging by this thread, if the government would let people buy SSB using SRS funds, demand is going to go up quite a bit

 

[maumu]

^ I'm one of those.

i'm not sure what else we can use for our SRS funds other than SD, which is low-risk and hassle-free and yet gets some decent interest (similar to TD).

the 0.05% interest for funds not utilized in investment is really bad.

 

[highsulphur]

^ I'm one of those.

i'm not sure what else we can use for our SRS funds other than SD, which is low-risk and hassle-free and yet gets some decent interest (similar to TD).

the 0.05% interest for funds not utilized in investment is really bad.

Buy A35......

 

[w1rbelw1nd]

Hi kitkat2,

We came across your post and though to share that purchases for Singapore Savings Bonds can be made via OCBC internet banking and/or our ATMS.

You may find more information at these links below:

https://www.ocbc.com/personal-banking/investments/singapore-government-securities.html

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

^WX

Hey OCBC, can you answer direct to the question?

Can you clarify if we can use OCBC to buy SGS bonds primary issues? Normally these are done through ATM subscription if purchased through cash.

Simple question, hope that an established bank with exclusive access to SRS like OCBC has answers at hand to a simple question.

Thanks.

 

[kitkat2]

managed to submit my order by the deadline yesterday. i think most ocbc branches are not familiar with buying sgs with srs. was very disappointed initially but didn't want to give up so i headed over to the hq instead. glad that the financial consultant there was very helpful and resourceful.

similar to uob, the form is also called book entry for govt securities.

the form is meant for purchase of sgs using cpf. it looks like a very outdated form as the prints are small and distorted. worse still, there is no place where i could enter my srs account info.

luckily the consultant searched his computer folder again and managed to find a payment form with cpf and srs listed as options.

in the end, i submitted 2 sets of forms. hope my application will go through. fingers crossed.

thank you to all who replied!