Despite increasing the maximum tranche to $600 million from $350 million the month before, the Singapore Savings Bond (SSB) for July 2022 (GX22070T) is oversubscribed. Of the $600 million, more than $1.3 billion was subscribed.
Maximum of $18,500 allotted per person
If you subscribed to $18,000 or less, you will get the amount you subscribed for.
Applications above this figure will get $18,000, and approximately 16.79% of such applications would get $18,500.
The rest of your funds will be refunded to you.
Rates are still expected to continue rising, so we might see even higher yields in the months to follow. As attractive as the rates are for SSB, there are also issues in deploying relatively larger amounts into it due to the maximum allotment as well as the $200,000 cap per individual.
A relative who recently came into some money shared her frustration that SSB is troublesome to get into due to the recent trend of oversubscription. I intend to share some alternatives soon, so you should subscribe to my Telegram for that, along with other personal finance content and great deals.
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