November 2023’s Government Bonds: 3.4% P.A. December 2023 SSB and 6-Month T-Bills

Details for December 2023 Singapore Savings Bond (SSB) is out, and the rates are up again! Get between 3.30% to 3.40% p.a. average returns depending on how long you hold the bond for. By my records, the 1-year return of 3.30% is the highest ever offered by SSB. The 10-year average return of 3.4% p.a. is the second highest after last year’s December 2022 SSB.

As usual, there are also two 6-month t-bills up for auction this month.

December 2023 SSB

Year from issue date12345678910
Interest %3.303.303.303.303.303.303.363.583.683.68
Average return per year %3.303.303.303.303.303.303.313.343.373.40
SBDEC23 GX23120Z

Last month’s SSB had a relatively large tranche of S$1 billion. A total of S$1.2 billion was applied for and allotted, resulting in oversubscription. The ceiling amount was S$47,500.

Given the same S$1 billion tranche this time and even higher rates, it is likely that oversubscription would be more pronounced.

You can apply latest before 27th November 2023 9PM. There is no priority in applying early so subscribing as late as possible is best because your funds can collect interest elsewhere.

Past SSBs

Past SSBs

Year 1 Year 2 Year 3 Year 4 Year 5 Year 6 Year 7 Year 8 Year 9 Year 10
June 20232.81 2.81 2.81 2.81 2.81 2.81 2.81 2.81 2.81 2.81
July 20232.76 2.76 2.76 2.76 2.76 2.76 2.76 2.78 2.81 2.82
August 20232.97 2.97 2.97 2.97 2.97 2.97 2.97 2.98 2.98 2.99
September 20233.01 3.01 3.01 3.01 3.01 3.01 3.01 3.02 3.04 3.06
October 20233.05 3.05 3.05 3.05 3.05 3.05 3.06 3.09 3.13 3.16
November 20233.21 3.21 3.21 3.21 3.21 3.21 3.22 3.25 3.29 3.32
December 20233.30 3.30 3.30 3.30 3.30 3.30 3.31 3.34 3.37 3.40
January 20243.00 3.00 3.00 3.00 3.00 3.00 3.00 3.02 3.05 3.07
February 20242.72 2.72 2.72 2.72 2.72 2.72 2.72 2.75 2.78 2.81
March 20242.74 2.74 2.74 2.74 2.74 2.74 2.75 2.79 2.84 2.88
April 20242.95 2.95 2.95 2.95 2.95 2.95 2.96 2.99 3.02 3.04
See More Past SSBs

Year From Issue Date12345678910
May 20220.861.491.721.841.911.962.012.042.062.09
Jun 20221.431.922.162.302.372.432.462.492.512.53
Jul 20221.692.162.372.472.542.602.632.662.692.71
Aug 20222.002.422.632.742.822.882.922.952.973.00
Sep 20222.632.672.682.692.692.712.732.752.782.80
Oct 20222.602.602.602.622.642.662.682.702.732.75
Nov 20223.083.113.143.153.163.173.183.193.203.21
Dec 20223.263.263.273.343.393.423.443.453.463.47
Jan 20232.952.952.953.023.093.133.163.193.233.26
Feb 20232.842.842.842.842.842.842.862.902.942.97
Mar 20232.762.762.762.762.762.762.782.822.862.90
Apr 20233.013.013.013.013.013.013.033.073.123.15
May 20233.033.033.033.033.033.033.033.043.063.07

Average return per year %

The usual two 6-month t-bills

It’s a quiet month for other government bonds this month. Apart from the usual two 6-month t-bills, there aren’t any other SGS bonds up for subscription.

The latest t-bill had a cut-off yield of 3.95% p.a. Not too shabby at all.

Issue CodeTypeAnnouncement DateAuction DateTenure
BS23122FT-bill01 Nov 202308 Nov 20236-month
BS23123ZT-bill16 Nov 202323 Nov 20236-month

Where am I placing my savings?

I made a video recently documenting the places I’m putting my savings:

I’m planning to shift some funds around and it’ll most likely involve government bonds, so stay subscribed if you want to know how I’m managing my cash savings.

Savings promos

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