Singapore Savings Bond October 2022 – Average Returns of 2.60% to 2.75% P.a.

Singapore Savings Bond (SSB) for October 2022 is out, and the average returns range from 2.60% to 2.75% p.a. The tranche size is $900 million.

Year from issue date12345678910
Interest %2.602.602.602.672.742.742.812.892.952.99
Average return per year %*2.602.602.602.622.642.662.682.702.732.75
SBOCT22 GX22100X Bond Details

Application timeline

You can use DBS, UOB, or OCBC banking portals to apply, and you will need a Central Depository (CDP) account. Note that DBS’s mobile app does not allow for SSB application.

The application timeline for October’s Singapore Savings Bond is as follows:

Opening DateClosing DateAllotmentIssuance
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)
1st September 2022 (6PM)27th September 2022 (9PM)28th September 2022 (after 3PM)3rd October 2022 (by end of day)

SSBs compared

October 2022’s SSB marks the first time in recent months where returns are lower than that of the previous month:

           
Year From Issue Date12345678910
May 20220.861.491.721.841.911.962.012.042.062.09
Jun 20221.431.922.162.302.372.432.462.492.512.53
Jul 20221.692.162.372.472.542.602.632.662.692.71
Aug 20222.002.422.632.742.822.882.922.952.973.00
Sep 20222.632.672.682.692.692.712.732.752.782.80
Oct 20222.602.602.602.622.642.662.682.702.732.75
Average return per year %

While September’s bond had lower long-term returns, its 1st and 2nd year returns were higher than that of the August one. October’s, on the other hand, has returns lower across the 10-year tenure compared to September’s.

This may result in a higher allotment amount. September’s ceiling amount was $13,500, an improvement from the previous month’s. We should see a higher ceiling for October given that the tranche size is the same at $900 million while the returns are slightly lower.

Check out the Savings page for more savings-related products and alternatives.


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