What are the fees and charges involved? Does the bank charge an administration fee as well?
- The bank will charge a transaction fee of $2 for each Savings Bond application and each Savings Bond redemption request.
For applications using cash, the transaction fee is deducted directly from your bank account.
For applications using SRS funds, the transaction fee is deducted directly from your SRS balance.
For other fees and charges which may arise from your participating bank account, kindly refer to the bank’s Terms and Conditions. - Transaction fees are non-refundable and will apply even if your application requests were unsuccessful.
This information is sourced from MAS
Related questions
Is the $2 fee chargeable per application or per individual?
Can you guide me on how to redeem my Savings Bonds?
Can I make multiple applications through different banks for the same Savings Bond issue? What will happen to my earlier requests? Will they be overwritten or superseded?
Can I make multiple redemptions for the same Savings Bond issue through the same and/or different banks? What will happen to my earlier requests? Will they be overwritten or superseded?
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