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|
|Average return per year %*||2.60||2.60||2.60||2.62||2.64||2.66||2.68||2.70||2.73||2.75|
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)|
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|
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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