Singapore Savings Bond June 2022 Oversubscribed: 261% of Tranche Applied For

A testament to how good the rates were and/or how hungry people are for low-risk yield, June 2022’s Singapore Savings Bond saw a 261% subscription rate of the $350 million tranche. More than $916 million was applied for, more than 2.5 times the maximum offered amount.

Oversubscription for Singapore Savings Bond has not been seen since May 2019 owing to the lacklustre rates of SSB for the past couple of years. In fact, SSB struggled to hit even half of the offered amounts through late 2020 and almost all of 2021 despite offering only $100 to $150 million. This time, however, is markedly different: June 2022 SSB increased the maximum offered amount to $350 million, and was still oversubscribed by a significant margin.

Maximum of $15,000 allocated per person

If you have subscribed to $15,000 or less, you would have successfully subscribed to the amount you applied for.

Application for any amounts above this figure would result in either $15,000 or $15,500 being subscribed, and the rest of your funds will be refunded to you.

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Some thoughts on this

I did not subscribe to June 2022 SSB owing to a mixture of laziness and expecting to see rates go up in July’s bond. I imagine quite a few people are like me too, but it turns out that given how hotly subscribed this tranche was, people who intend to put a sizeable amount of money into SSB may not have the luxury of choice. You are probably going to have to split your funds into different months’ bonds given that oversubscription is likely to continue if the rates are similar or better than June 2022 SSB’s rates.

For smaller investors, $15,000 should be a comfortable ceiling to put aside some idle funds in. For bigger amounts and if your time frame is shorter, $50,000 fits nicely for Bonus$aver promo. If you have $250,000 or so, check out Citigold’s promo which could be a solution for your funds.

Next month couldn’t come any sooner, as we wait to see what rates July’s bond would bring.

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