How to Invest
Choosing the Securities you Want to Buy
Singapore Government Securities (SGS) Bonds

Issuer The Monetary Authority of Singapore issues SGS Bonds on behalf of the Singapore Government.
Tenor 2, 7, 10, and 15 years
Currency Singapore dollar
Interest Payment SGS Bonds carry a fixed and semiannual coupon. Payment is on the 1st or 15th of a particular month. In case of holiday, payment is on the next business day.

The day count convention for bond computations is Actual/Actual.
Minimum Amount of Tender SGD1,000
Method of Sale in the Primary Market Competitive or noncompetitive
Auction Format Uniform-pricing. Successful competitive bidders and non-competitive bidders will be allotted the securities at a uniform yield, which is the cut-off yield of successful competitive bids submitted at the auction.
Who may apply All entities or individuals, including nonresidents, may participate. All applications must be submitted through an approved SGS Primary Dealer.
Redemption SGS Bonds are noncallable/non-puttable bonds with bullet redemptions at face (par) value.
Taxation

There is no capital gains tax. For individuals, SGS Bonds are exempt from interest income tax. Institutions and corporations, which earned interest and discount income on SGS issued on or after 28 Feb 1998, are taxed at a concessionary rate of 10%. 

Secondary Market Trading Over-the-counter.  SGS Bonds are not listed on the Singapore Exchange.

Singapore Government Securities (SGS) Bills

Issuer Monetary Authority of Singapore issues SGS T-bills on behalf of the Singapore Government.
Tenor 3-month and 1 year
Currency Singapore dollar
Interest Payment SGS T-bills are zero-coupon, issued and traded on a discount basis. Day count convention is Actual/365.
Minimum Amount of Tender SGD1,000
Method of Sale in the Primary Market Competitive or noncompetitive.
Auction Format Uniform-pricing. Successful competitive bidders and non-competitive bidders will be allotted the securities at a uniform yield, which is the cut-off yield of successful competitive bids submitted at the auction.
Who may apply All entities or individuals, including nonresidents, may participate. All applications must be submitted through an approved SGS Primary Dealer.
Redemption T-bills are redeemable at par upon maturity.
Taxation

There is no capital gains tax. For individuals, SGS Bonds are exempt from interest income tax. Institutions and corporations are taxed at a concessionary rate of 10%.

Secondary Market Trading Over-the-counter. SGS T-bills are not listed on the Singapore Exchange.