Singapore Savings Bond May 2023 Almost Fully Subscribed: No Ceiling Amount
Following April 2023’s Singapore Saving Bond’s (SSB) oversubscription, May 2023 SSB is almost completely subscribed with S$697.2 million allotted out of the S$700 million tranche. This is a subscription level of 99.6% which means there is no ceiling amount.
Applicants would have gotten whatever amount they applied for except those who applied beyond the individual limit of S$200,000 per person across all SSBs. There was actually S$705.5 million applied for, which means quite a few people applied for amounts beyond the maximum S$200,000 of SSBs a single person can hold.
Past SSBs
For comparison, here are the average returns per year given by recent SSBs:
| 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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June 2023 SSB looks to be weaker
Next month’s SSB looks a tad weaker with rates expected to be quite a bit under the 3% mark April and May 2023 SSBs have given us. Subscribe to the Telegram for more updates on savings deals and products.
While the lower rates next month look unattractive relative to other instruments in the market right now, SSBs remain a tool that provide decent rates for as long as 10 years while maintaining nearly full liquidity.
The drop in rates should in fact be a reminder that rates may not remain as high as it is now, and if you have funds that you want to set aside in a very conservative manner for up to a decade or so, SSBs may be one of your best options.
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