Being the highest return offered by Singapore Savings Bond (SSB) ever, November 2022’s issue of SSB has been oversubscribed. Of the $900 million offered, approximately $2.2 billion was subscribed. This resulted in a ceiling amount of $10,500 for this tranche.
Maximum of $10,500 allocated per individual
If you subscribed to $10,000 or less, you will get the amount you subscribed for.
Applications above this figure will get $10,000, and approximately 29.15% of such individuals would be allotted $10,500.
The rest of your funds will be refunded to you.
Rates continue to rise
$10,000 or $10,500 is actually higher than I predicted (I thought it was going to be far less than $10,000), but unfortunately I… forgot to subscribe to this month’s tranche.
For those who did not manage to get their desired amount (or was busy getting into an accident, as I was), next month’s bond should still continue to offer attractive rates, possibly even better ones than this month’s since interest rates continue to be on the upward trend.
There are also alternatives you can look at.
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