Singapore Savings Bond April 2023 Oversubscribed: $69,000 Max Per Person
After a couple of months of less than 100% subscription, April 2023’s Singapore Savings Bond (SSB) is oversubscribed. This time, a total of S$751 million was applied for out of the S$700 million tranche.
Maximum amount of S$69,000 allocated per person
If you subscribed to S$68,500 or less, you would get the amount you applied for.
Application amounts above this figure would be allocated either SS$68,500 or S$69,000 on a random basis. About 83% of applicants would get the higher S$69,000 figure.
Thoughts
The SSB rates are more attractive this time round, and it is perhaps more palatable that returns are all above the 3% p.a. mark regardless of how long you hold the bond for. Next month’s May 2023 bond would likely offer similar rates, and just like the April 2023’s SSB is a great opportunity to “refinance” some of your older SSBs – which basically means selling off older, less attractive SSBs to replace them with these >3% p.a. ones.
SSBs continue to be a great place to get virtually risk-free returns for a period of up to 10 years, and maintain almost full liquidity of one’s funds. Interest rates probably won’t stay high forever, but SSBs for these couple of months can give around 3% p.a. for up to a decade.
Seth Wee was a licensed financial adviser representative from 2009 to 2025, with over 16 years of experience in Singapore’s financial advisory industry.
He started Sethisfy.com in 2019 to share practical insights on credit cards, banking products, and miles strategies, helping readers identify financial products that deliver the best value. Seth has been featured in CNA, Channel 8, Today, and a host of other publications. In 2025, he was also part of a panel at CPF’s Ready For Life festival.
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