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 date | 1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 |
|---|---|---|---|---|---|---|---|---|---|---|
| Interest % | 2.60 | 2.60 | 2.60 | 2.67 | 2.74 | 2.74 | 2.81 | 2.89 | 2.95 | 2.99 |
| Average return per year %* | 2.60 | 2.60 | 2.60 | 2.62 | 2.64 | 2.66 | 2.68 | 2.70 | 2.73 | 2.75 |
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 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) |
| 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 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 |
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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