As widely expected, Singapore Savings Bond’s August 2022 tranche (SBAUG22 GX22080V) has been oversubscribed. Unsurprisingly, the highest yield ever for SSB drew intense interest – a staggering $2.4 billion dollars were fighting over the $700 million offered.
Maximum of $9,500 allotted per person
If you subscribed to $9,000 or less, you will get the amount you subscribed for.
Applications above this figure will get $9,000, and approximately 8.15% of such applications would get $9,500.
The rest of your funds will be refunded to you.
Thoughts and alternatives
I finally placed some idle savings into SSB since the yields looked really attractive. The figure of $9,000 was a lot lower than I was hoping for.
By most measures of existing Singapore Government Securities yields, next month may yet be another high for SSB, and that’d certainly be hotly subscribed too.
The low allotment has been frustrating to some who have larger amounts of funds sitting around. Case in point, my mum has been trying to set aside a larger amount and playing the monthly game with SSB isn’t the most ideal given the opportunity cost of idle funds.
There are a few alternatives to consider. StanChart has an ongoing Bonus$aver promo, and for larger amounts, CitiGold may also be a worthy consideration. These are for short tenures of 1 to 4 months, however.
I have just published a video on Traded Endowment Policies, and that may be something you’d find suitable as well for larger amounts, and longer tenures.
Do note that the above may either earn me an affiliate fee, or are sponsored, but they are indeed options that my family have taken up or are looking into getting. At the lower risk side of things, there are also things like fixed deposits and t-bills, and these are things I would cover on an upcoming video and post. Stay subscribed to get updates!
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