Fun fact : In total, about 120,000 individuals hold more than S$5.7 billion worth of SSB as at the start of 2022.

FYI: Read These 37 Things To Become An Expert On The Singapore Savings Bonds.

After being under-subscribed in the past 2 tranches, Savings Bonds bucked the trend!

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 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 maintain or even drop through 2023 till the end of next year.

The market is currently expecting rates to be around 4.25% to 4.50% at the end of the year whereas the market seems to be driven by FEAR at the moment.

You probably have your own thoughts as to whether you’re gonna be keeping funds on the sidelines for now or DCA-ing into the market.

I guess if rates continue to go up, we can always redeem our older Singapore Savings Bonds and buy newer ones, right?

Applicants of @MAS_sg SSBs earlier this year have been busy redeeming their Savings Bonds, perhaps for new tranches that have higher returns?

It is not difficult to see why. After all, the application fee is only $2 and early redemption does give us pro-rated returns 😅 pic.twitter.com/VqygIeCh8m

— Kevin | Turtle Investor (@turtle_investor) November 28, 2022

I wasn’t too sure what to expect for the allocation although demand is expected to be muted.

Seeing that rates went up beyond 3% this time around, I applied and got all of $12,500.

This April tranche (SBAPR23 GX23040S) turned out to be just a little over-subscribed (total applied S$758m, total allotted S$751m of S$700m offered) and so, congrats! Most people would have gotten the full allocation unless you are a whale. The quantity ceiling was $68,500.

Trivial – The maximum amount of Savings Bonds that each investor may hold at any one time is $200,000.

Demand has softened as other short-term instruments are offering stiff competition with high yields, whereas risk appetite has seemingly returned for some investors.

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 April 2023 issue of SSBs, note the following –

• All applicants who applied were fully allotted, subject to the individual allotment limits.

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 Apr 2023 Singapore Savings Bonds, 29 Mar 2023 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 Apr 2023 Singapore Savings Bonds, 30 Mar 2023 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 Apr 2023 Singapore Savings Bonds, the interest payment months will be

• Issue date + 6 months (01 Oct 2023)
• Issue date + 12 months (01 Apr 2024)
• Issue date + 18 months (01 Oct 2024)
• Issue date + 24 months (01 Apr 2025)
• Etc

If you need the official Monetary Authority of Singapore’s SSB calculator, click here to access it. (example below)

Let’s wait and see what 2023 tranches will bring, and perhaps I will apply for more 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?

At the moment, I have idle funds parked in MoneyOwl (read my MoneyOwl WiseSaver review here) and truth be told, 4.04% (as of 24/03/2023) is actually pretty good and beats options such as Singlife and Singtel Dash PET. Plus I put in additional $5,000 in GXS recently!

Over the past few months, I have been spending some times creating Notion templates (like the one below) 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’d try and make more of these templates and resources available for free downloads on my online store as I slowly get them organized.

In a little over two months, I have grown a brand new Twitter account to 600 followers organically. If you are thinking of starting your own digital creator journey, grab your own free eBook resource which I’ve recently published.

With fifty 5-star ratings and dozens of DMs in my inbox that I can’t share easily – looks like there is a huge market demand to be filled!