Singapore Savings Bond June 2023 – 2.81% P.A. Flat Throughout
June 2023’s Singapore Savings Bond (SSB) has an almost perfectly flat return of 2.81% p.a. regardless of the tenure you hold it for. Correct me if I’m wrong, but this is perhaps the first time we’ve seen something like this happen.
| Year from issue date | 1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 |
|---|---|---|---|---|---|---|---|---|---|---|
| Interest % | 2.81 | 2.81 | 2.81 | 2.81 | 2.81 | 2.81 | 2.81 | 2.82 | 2.82 | 2.82 |
| Average return per year %* | 2.81 | 2.81 | 2.81 | 2.81 | 2.81 | 2.81 | 2.81 | 2.81 | 2.81 | 2.81 |
SBJUN23 GX23060E Bond Details
Past SSBs compared
| Year From Issue Date | 1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 |
| May 2023 | 3.03 | 3.03 | 3.03 | 3.03 | 3.03 | 3.03 | 3.03 | 3.04 | 3.06 | 3.07 |
| 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 |
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Undersubscription is likely
With a S$700 million tranche size and how last month’s SSB was not oversubscribed, it is almost certain that this month’s SSB would be undersubscribed. This means that there will be no ceiling amount, and applicants would likely be able to get whatever amount they apply for subject to an overall limit of S$200,000 per individual across all SSBs they own.
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. This is because your funds are deducted from your account at the point of application, and you do not get any interest for such funds.
| 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) |
| 2nd May 2023 (6PM) | 26th May 2023 (9PM) | 29th May 2023 (after 3PM) | 1st June 2023 (by end of day) |
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