Singapore Savings Bond December 2022 – Highest Ever Average Returns of 3.26% to 3.47% P.a.
Here comes yet another all-time high for Singapore Savings Bond (SSB): December 2022 SSB gives as much as 3.47% p.a, making it the most attractive SSB to date. Even the 1 and 2-year return stands at 3.26% p.a which is the highest yet.
| Year from issue date | 1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 |
| Interest % | 3.26 | 3.26 | 3.28 | 3.58 | 3.58 | 3.58 | 3.58 | 3.58 | 3.58 | 3.58 |
| Average return per year %* | 3.26 | 3.26 | 3.27 | 3.34 | 3.39 | 3.42 | 3.44 | 3.45 | 3.46 | 3.47 |
Past SSBs compared
Past SSBs
| Year 1 | Year 2 | Year 3 | Year 4 | Year 5 | Year 6 | Year 7 | Year 8 | Year 9 | Year 10 | |
|---|---|---|---|---|---|---|---|---|---|---|
| June 2023 | 2.81 | 2.81 | 2.81 | 2.81 | 2.81 | 2.81 | 2.81 | 2.81 | 2.81 | 2.81 |
| July 2023 | 2.76 | 2.76 | 2.76 | 2.76 | 2.76 | 2.76 | 2.76 | 2.78 | 2.81 | 2.82 |
| August 2023 | 2.97 | 2.97 | 2.97 | 2.97 | 2.97 | 2.97 | 2.97 | 2.98 | 2.98 | 2.99 |
| September 2023 | 3.01 | 3.01 | 3.01 | 3.01 | 3.01 | 3.01 | 3.01 | 3.02 | 3.04 | 3.06 |
| October 2023 | 3.05 | 3.05 | 3.05 | 3.05 | 3.05 | 3.05 | 3.06 | 3.09 | 3.13 | 3.16 |
| November 2023 | 3.21 | 3.21 | 3.21 | 3.21 | 3.21 | 3.21 | 3.22 | 3.25 | 3.29 | 3.32 |
| December 2023 | 3.30 | 3.30 | 3.30 | 3.30 | 3.30 | 3.30 | 3.31 | 3.34 | 3.37 | 3.40 |
| January 2024 | 3.00 | 3.00 | 3.00 | 3.00 | 3.00 | 3.00 | 3.00 | 3.02 | 3.05 | 3.07 |
| February 2024 | 2.72 | 2.72 | 2.72 | 2.72 | 2.72 | 2.72 | 2.72 | 2.75 | 2.78 | 2.81 |
| March 2024 | 2.74 | 2.74 | 2.74 | 2.74 | 2.74 | 2.74 | 2.75 | 2.79 | 2.84 | 2.88 |
| April 2024 | 2.95 | 2.95 | 2.95 | 2.95 | 2.95 | 2.95 | 2.96 | 2.99 | 3.02 | 3.04 |
| May 2024 | 2.99 | 2.99 | 2.99 | 2.99 | 2.99 | 2.99 | 3.00 | 3.02 | 3.04 | 3.06 |
| June 2024 | 3.26 | 3.26 | 3.26 | 3.26 | 3.26 | 3.26 | 3.27 | 3.29 | 3.31 | 3.33 |
| July 2024 | 3.26 | 3.26 | 3.26 | 3.26 | 3.26 | 3.26 | 3.26 | 3.28 | 3.29 | 3.30 |
Tranche size biggest in months at $1 billion
December’s SSB has also increased the total tranche amount to $1 billion which is the highest ever for Singapore Savings Bond (update: biggest ever was $1.2 billiion; thanks Jackson!). Last month’s bond saw $900 million offered with a ceiling amount of $10,500. Allotment figure should roughly be about this amount, and we will find out the exact figure at the end of November.
Other products are increasing rates too
This month’s rates may be good, but the latest t-bill has reached over 4% p.a. return, albeit with just a 6-month tenure. Upcoming t-bills are likely to give SSBs a run for their money, and people with shorter time horizons may find those more appealing.
Bank deposits are also catching up. Well, OCBC 360 at least, which is giving between 3.25% to 4.65% p.a. in realistic interest rates. I have a review of the latest OCBC 360 improvement coming really soon, so stay subscribed to the Telegram to be kept updated on great places to place your funds.
Application timeline
Note that applying early does not confer you any priority in the allotment process, so it is more ideal to apply nearer to the closing date.
| Opening Date | Closing Date | Allotment | Issuance |
| 1st business day of month (6PM) | 4th last business day of the month (9PM) | 3rd last business day of the month (after 3PM) | 1st business day of the following month (end of day) |
| 1st November 2022 (6PM) | 25th November 2022 (9PM) | 28th November 2022 (after 3PM) | 1st December 2022 (by end of day) |
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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