Singapore Savings Bond (SSB) for January 2024 is available for subscription. Following December 2023’s attractive returns, this new tranche doesn’t seem that great with an average return of 3% to 3.07% p.a. depending on how long you hold the bond for.
For the last month of 2023, there are the usual two 6-month t-bills. There are no other Singapore Government Security (SGS) bonds available for subscription this month.
Here’s a look at the government bonds you can apply for in the month of December 2023:
January 2024 SSB
|Year from issue date
|Average return per year %
December 2023 SSB had a relatively large S$1 billion tranche and was still oversubscribed with a total of S$1.9 billion applied for. The oversubscription resulted in a ceiling amount of S$20,500.
This month’s bond sees an increase to S$1.1 billion. At the same time, the rates are quite a bit lower than the previous bond. The rates look similar to that of September 2023 and October 2023’s SSBs – neither of which saw oversubscription despite a much lower tranche size. Oversubscription is hence not likely with January 2024’s SSB.
You can apply latest before 26th December 2023 (9PM). There is no priority in applying early so subscribing as late as possible is best because your funds can collect interest elsewhere. And indeed there are quite a few savings promos competing for your funds this month (see the end of this post for more).
The usual two 6-month t-bills
As with most months of the year, there are two 6-month t-bills up for subscription.
The latest t-bill had a cut-off yield of 3.8% p.a. Remember to apply before the auction dates:
|30 Nov 2023
|07 Dec 2023
|13 Dec 2023
|20 Dec 2023
Quite a few savings promos
Competing heavily with government bonds this month would be promos from banks vying for your savings. It’s not looking good for SSBs this month, I would say, since there are quite a lot of great options you can choose from for your cash savings. T-bills still make sense for CPF, but if you have excess cash I suggest taking a look at the various bank promos for the month of December.
Given the great offers I am also restructuring my savings portfolio. There have been significant changes since the last time I did this video. Stay subscribed if you want more savings promos and updates!
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