SINGAPORE — The investment cap for Singapore Savings Bonds will be doubled to S$200,000 for Singapore Savings Bonds (SSB) from Feb 1 next year, the Monetary Authority of Singapore (MAS) announced on Monday (Dec 17).

The central bank also said investors will be able to use their Supplementary Retirement Scheme (SRS) funds to invest in SSB from the same date.

Since its launch in October 2015, some 100,000 individuals have invested about S$3.7 billion in the SSB programme, the MAS said in a statement.

Following requests from the public, the government announced earlier this year that it would allow SRS monies to be used to buy SSB.

On Monday, the MAS said it has worked with the banks to enable the use of SRS funds for SSB investments.

Investors may apply for the SSB through the Internet banking portals of their respective SRS operators – namely DBS/POSB, OCBC and UOB. The minimum amount is S$500 and there is a S$2 transaction fee for each application.

Meanwhile, the MAS also announced that a new portal called My Savings Bond will be launched in March 2019 to allow investors to have a consolidated view of their SSB holdings, purchased using both cash and SRS funds.