Singapore Savings Bond rate continues to flatten

It has a 10-year average return rate of 2.81%,

The rates of the Singapore Savings Bond (SSB) June issuance continued to flatten, data from the Monetary Authority of Singapore (MAS) showed.

The month’s bond, which was offered on 2 May, posted a 2.81% one-year average return per year rate. Its 10-year average return was also 2.81%.

Previously, May’s issuance was at 3.03% for the one-year interest rate and 3.07% for the 10-year paper. Total amount offered was S$700m, whilst total amount allotted was S$697.2m.

ALSO READ: 2Y SGS bond ‘attractive enough’ to draw demand: UOB

The June issuance has an offered amount of S$700m and a closing date on 26 May. Finalised application date is scheduled on 1 June.

The longer the period an individual holds SSBs, the higher the return will be. This is in line with the "step up" feature of the SSB program's goal of promoting long-term savings and investment.

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