Singapore Savings Bond September 2022 – Average Returns of 2.63% to 2.80% P.a.
Singapore Savings Bond (SSB) continues to be a hot favourite as interest rates rise, and SSB September 2022 is out with 1-year returns at 2.63% p.a, 2-year returns at 2.67% p.a, and 10-year returns at 2.80% p.a.
The tranche size is a new record of $900 million.
| Year from issue date | 1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 |
|---|---|---|---|---|---|---|---|---|---|---|
| Interest % | 2.63 | 2.71 | 2.71 | 2.71 | 2.71 | 2.79 | 2.86 | 2.94 | 3.00 | 3.04 |
| Average return per year %* | 2.63 | 2.67 | 2.68 | 2.69 | 2.69 | 2.71 | 2.73 | 2.75 | 2.78 | 2.80 |
Application timeline
You can use DBS, UOB, or OCBC banking portals to apply, and you will need a Central Depository (CDP) account. The application timeline for September’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 August 2022 (6PM) | 26th August 2022 (9PM) | 29th August 2022 (after 3PM) | 1st September 2022 (by end of day) |
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Recent SSBs compared
While not displacing last month’s SSB as the highest 10-year returns ever, September’s short term rates are quite attractive indeed:
| Year From Issue Date | 1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 |
| May 2022 | 0.86 | 1.49 | 1.72 | 1.84 | 1.91 | 1.96 | 2.01 | 2.04 | 2.06 | 2.09 |
| Jun 2022 | 1.43 | 1.92 | 2.16 | 2.30 | 2.37 | 2.43 | 2.46 | 2.49 | 2.51 | 2.53 |
| Jul 2022 | 1.69 | 2.16 | 2.37 | 2.47 | 2.54 | 2.60 | 2.63 | 2.66 | 2.69 | 2.71 |
| Aug 2022 | 2.00 | 2.42 | 2.63 | 2.74 | 2.82 | 2.88 | 2.92 | 2.95 | 2.97 | 3.00 |
| Sep 2022 | 2.63 | 2.67 | 2.68 | 2.69 | 2.69 | 2.71 | 2.73 | 2.75 | 2.78 | 2.80 |
| Oct 2022 | 2.60 | 2.60 | 2.60 | 2.62 | 2.64 | 2.66 | 2.68 | 2.70 | 2.73 | 2.75 |
| Nov 2022 | 3.08 | 3.11 | 3.14 | 3.15 | 3.16 | 3.17 | 3.18 | 3.19 | 3.20 | 3.21 |
| Dec 2022 | 3.26 | 3.26 | 3.27 | 3.34 | 3.39 | 3.42 | 3.44 | 3.45 | 3.46 | 3.47 |
| Jan 2023 | 2.95 | 2.95 | 2.95 | 3.02 | 3.09 | 3.13 | 3.16 | 3.19 | 3.23 | 3.26 |
| Feb 2023 | 2.84 | 2.84 | 2.84 | 2.84 | 2.84 | 2.84 | 2.86 | 2.90 | 2.94 | 2.97 |
| Mar 2023 | 2.76 | 2.76 | 2.76 | 2.76 | 2.76 | 2.76 | 2.78 | 2.82 | 2.86 | 2.90 |
| Apr 2023 | 3.01 | 3.01 | 3.01 | 3.01 | 3.01 | 3.01 | 3.03 | 3.07 | 3.12 | 3.15 |
(Important) things to take note
There were a couple of people who used DBS’s phone banking app to apply for Singapore Savings Bond, and ended up getting Singapore Government Securities instead. Do note that these are different products (and something I intend to talk about soon), and you need to use the desktop version to apply for SSB.
Thoughts and alternatives
Given the tranche size, interest rates, and overall attractiveness of SSB recently, it is likely that oversubscription would continue. Last month saw a relatively paltry $9,000 ceiling amount, and this is quite low for those who have a substantial amount to set aside.
There are alternatives to consider which include SSB’s fellow SGS bonds and treasury bills – more on this in my upcoming video; subscribe to my Telegram to receive updates. You could also consider some savings deals here. Bonus$aver is giving $250 for setting aside $50,000 funds until the end of the following month, and traded endowment policies are something you could also consider if you intend to be more risk conservative with an amount of money you have.
There is also an upcoming product launching over the next few days that could be suitable for your needs, so watch out for it in the Telegram channel.
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