Fun fact : Did you know that Singapore Permanent Residents and foreigners are eligible to buy Singapore Savings Bonds as well? I have never thought about this question until I was asked about it, and a quick Google search gave me the answer.
This month, I spent a lot of time outside of Singapore, got Covid in between trips and thankfully, still remembered to apply for SSBs just before the deadline.
The Singapore Savings Bonds SSB interest rate history has been inching upwards ever since the FED embarked on interest rate hikes in an attempt to combat inflation, with the past SSB interest rates going from the lows of January 2022 (First Year 0.45%, 10-Year 1.78%) to the current highs of December 2022 (First Year 3.26%, 10-Year 3.47%).
The good (or bad) news, depending on how you see it, is that interest rates will likely continue to rise, albeit at a slower rate, through 2023 with the likely probability around 5.25% to 5.50% at the end of next year.
Great for savers, but bad for home-owners.
Well, if rates continue to go up, we can always redeem our older Singapore Savings Bonds and buy newer ones, right?
Considering the November’s tranche was 2.4x over-subscribed and the individual allocation was capped at $10000, I wasn’t expecting to get a big allocation this time.
If you have applied for $14,000 or less, congrats! You would have gotten the full allocation.
At 1.7x oversubscription, this tranche saw decent demand as the hunger for yield stays high. A wise man once said – “hunger is the best side dish.”
To get an overview of the allotment results for past tranches of the Singapore Savings Bonds, click here.
To log in to MAS Singapore Savings Bonds portal to check your SSBs investment and results, click here.
For this latest December 2022 issue of SSBs (GX22120S), note the following –
- Applicants who applied for S$14,000 or lower were fully allotted, subject to the individual allotment limits.
- Applicants who applied for S$14,500 or higher were allotted either S$14,000 or S$14,500.
- Approximately 39.34% of these applicants were selected at random and allotted the additional S$500.
FAQ #1 : When will the monthly SSB results be announced?
MAS will always announce the overall application results on the third last business day of the month.
For December 2022 Singapore Savings Bonds, 28 November 2022 is the third last business day for the month and results are announced at 3:00pm.
FAQ #2 : When will unsuccessful applications be refunded?
Money will be refunded by the second last business day of the month.
For December 2022 Singapore Savings Bonds, 29 November 2022 is the second last business day for the month.
FAQ #3 : What are the interest payment dates?
The interest payment months for Singapore Savings Bonds is every subsequent six months after the issue date.
For December 2022 Singapore Savings Bonds, the interest payment months will be
- Issue date + 6 months (01 June 2023)
- Issue date + 12 months (01 December 2023)
- Issue date + 18 months (01 June 2024)
- Issue date + 24 months (01 December 2024)
If you need the official Monetary Authority of Singapore’s SSB calculator, click here to access it!
Let’s wait and see what 2023 tranches will bring, and perhaps I will apply once again. If need be, I would redeem my earlier tranches of SSBs.
Have you checked your allotment of SSBs yet?
Meanwhile, if you are still standing on the sidelines with idle cash, why not deploy them in cash funds for some returns while waiting?
These days, I have been spending some times updating Notion templates that I have been using to keep track of all things related to personal finance and it is indeed a worthy companion to Google Sheets.
I would be making most of these templates and resources available for free downloads (yay) once I have got them organized properly.
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Hello! I’m Kevin, Turtle Investor
At the age of 30, I am the Personal Finance Blogger who laid claim to a negative net worth of minus $25,755 – and decided to turn things around.
- Seven years later in 2019, I hit CPF Full Retirement Sum (FRS) of $176,000 without making a single cent of CPF top-up
- In nine years, I have added more than $1 million to my net worth
- In total, I have earned more than six-figures in alternative income in addition to my job
I am married to a lovely wife and that means dual income with no kids. In my free time, I chase miles so that we can fly in business class. My hobbies include making pocket change off this blog and sharing everything I know with you!