Best Brokers for Singapore Investors Buying Bonds
Singapore investors can access bonds via SGX-listed Singapore Government Securities (SGS), Singapore Savings Bonds (SSBs), and international bond ETFs through IBKR Singapore or Tiger Brokers. Singapore Savings Bonds are the starting point: SSBs offer step-up interest rates (averaging ~3.0–3.5% over 10 years, 2026 rates), guaranteed by the government, redeemable any month with no capital loss, and capped at SGD 200,000 per person. For higher yield: SGX-listed REITs and MAS-regulated corporate bond market. For global bond exposure: iShares Global Corporate Bond UCITS ETF (CORP, 0.20% TER) and Vanguard USD Corporate Bond ETF (VCIT) via IBKR.
Market
Bonds & Fixed Income
Bloomberg Global Aggregate
Top ETF
AGGG
AGGG (iShares Core Global Aggregate Bond UCITS ETF)
Your currency
🇸🇬 SGD
Singapore
FX cost reality check
Singapore Savings Bond: zero cost, apply via DBS/POSB/OCBC/UOB iBanking or ATM, SGD 2 transaction fee, 3.0–3.5% average yield. SGS 10-year bond (June 2026): ~2.9% yield, zero brokerage on SGX through DBS Vickers. US Treasury via IBKR Singapore: SGD/USD 0.08% + $2 commission, ~4.2% gross yield. Effective SGD/USD hedging cost: ~1.0–1.5%/year. Unhedged US Treasury via IBKR: best for investors willing to take USD/SGD FX exposure.
Best brokers for Singaporean investors in bonds and fixed income
Ranked by FX conversion cost — the biggest variable cost for international investors.
Interactive Brokers
The lowest FX spreads of any mainstream broker — 0.08–0.2% mid-market margin across all major corridors.
Tiger Brokers
Low-cost US and HK stock access for Asian investors
moomoo
Commission-free investing with advanced charting for Asian markets
About Bonds & Fixed Income: what Singaporean investors need to know
Why invest here
Bonds provide portfolio stability and income. After the 2022 rate cycle, developed-market government bonds offer yields of 4–5% — the most attractive in 15 years. For capital preservation and income, bonds belong in most long-term portfolios.
Key risk
Interest rate risk; currency risk; credit risk in corporate/EM bonds; inflation eroding real returns
Benchmark index
Bloomberg Global Aggregate
Recommended ETF (non-US investors)
AGGG (iShares Core Global Aggregate Bond UCITS ETF)
Regulation for Singaporean investors
MAS-regulated platforms for Singapore bond investing. SSBs: MAS-guaranteed, apply through Singapore banks, SGD 200,000 cap per person, redeemable monthly. SGS bonds available on SGX and via MAS eBond service. US Treasury interest: 0% US withholding under Singapore–US DTA interest exemption. Corporate bonds on SGX: minimum SGD 250,000 face value for most — retail investors use ETFs instead.
Tax treatment for Singaporean investors in bonds and fixed income
No Singapore income tax on interest from bonds (SSBs, SGS, and most foreign bonds) for individual investors. No Singapore CGT on bond ETF gains. US Treasury interest: 0% US withholding under Singapore–US DTA. Corporate bond interest paid to Singapore investors from foreign issuers may have source-country withholding — UCITS bond ETFs already reflect these at fund level. Singapore investors receive the net return with no further Singapore tax.
Not tax advice. Tax laws change frequently. Consult a qualified tax professional in Singapore before making investment decisions.