Where can I find the auction and issuance calendar for SGS Bonds, T-bills and SSB?

You can refer to the MAS website for the Auctions and Issuance Calendar.

Can SGS applications be amended or cancelled after submission?

No, SGS applications are strictly non-amendable and non-revocable once submitted. Please review all details carefully before submitting.

Do T-bills pay interest?

No, T-bills don’t pay regular interest. Instead, you buy them at a discount and receive the full face value at maturity. The difference is your interest.

When will I receive coupon payments for my SGS Bonds?

For SGS Bonds, you will receive coupon payments on the first business day of the month, every 6 months from the bond's issue date. Payments are typically credited to your Direct Crediting Service (DCS) bank account or your SRS/CPF account, depending on your investment mode.

What is the maximum investment amount for SSB?

You can hold a maximum of S$200,000 across all SSBs at any one time, whether purchased with cash or SRS funds, or a combination of both.

Singapore Government Securities

Discover Singapore Government Securities (SGS) Bonds, Treasury Bills (T-bills), and Singapore Savings Bonds (SSB) – all Singapore Government backed, offering a safe way to diversify your investment portfolio.

Government-Backed Security: Fully backed by the Singapore Government.

Varied Income Option: Enjoy fixed, steady income (SGS), buy at discount and get full face value at maturity (T-bills) or increasing interest over time (SSB).

Diversify Across Horizons: Broaden your investment portfolios with short-term (T-bills) and long-term (SGS, SSB) options.

Overview

Types of SGS

SGS & T-bills

SSB

FAQ

Types of Singapore Government Securities

Choose a Bond that suits your investment needs

Singapore Government Securities (SGS) Bonds

SGS Bonds are tradable government debt securities paying fixed interest every 6 months, with maturities from 2 to 50 years.

Find out more

Treasury Bills (T-bills)

T-bills are short-term (6-month/1-year) tradable government securities. They are bought at a discount, with investors receiving full face value upon maturity.

Find out more

Singapore Savings Bonds (SSB)

SSB offers flexible, long-term savings with safe, step-up returns and penalty-free monthly redemptions, providing a secure investment option.

Find out more

How to apply SGS Bonds and T-bills New Issues?

Before applying, please refer to our guide for details on the application process and requirements, and commonly asked questions.

Investors without a CPF Investment Account would need to take the Self-Awareness Questionnaire (SAQ).
Find out how much of your OA and SA savings you can invest. Log in to my cpf digital services with your Singpass > Select my cpf > My dashboards > Investment

Cash Application: Customers may submit SGS applications via digibank Online or digibank App or DBS/POSB ATMs (from 6pm on the Announcement Date until 9pm, 1 business day before the Auction Date)

SRS Application (For DBS SRS Account Holders only): Customers may submit applications via digibank Online or digibank App from 6pm on the Announcement Date until 9pm, 1 business day before the Auction Date.

CPFIS-OA Application (For DBS CPFIA Account Holders only): Customers may submit applications via digibank Online or digibank App from 6pm on the Announcement Date until 9pm, 1 business day before the Auction Date.

CPFIS-SA Application: Customers may visit any DBS/POSB branch to submit their applications from the Announcement Date up to 2 business days (before 10am) prior to the Auction Date.

How to buy or sell existing SGS Bonds and T-bills Issues?

Buying

Explore Your Options: Choose from a wide range of SGS Bonds and T-bills available in the market.
Understand Pricing: These bonds are traded at their current market value, which changes daily.
You may visit any DBS/POSB branch to submit your cash, SRS, CPFIA/SA applications.
Using SRS/CPF Funds:
- If you hold a DBS SRS or CPFIA account, you can buy these bonds directly through DBS.
- If your SRS or CPF funds are with another agent bank, please contact them to make your purchase.

Selling

Understand Pricing: When selling, your bonds will be sold at their current market value, which changes daily. Be aware that selling before the maturity date may result in losses.
You may visit any DBS/POSB branch to submit your cash, SRS, CPFIA/SA applications.
Using SRS/CPF Funds:
- If you hold a DBS SRS or CPFIA account, you can sell these bonds directly through DBS.
- If your SRS or CPF funds are with another agent bank, please contact them to make your sale.
For SGS Bonds only – To sell SGS bonds custodised in CDP, a DBS Vickers account holder can do so via digibank Online.

Investors without a CPF Investment Account would need to take the Self-Awareness Questionnaire (SAQ).

How to apply or redeem SSB?

Cash Application: Customers may submit SSB application / redemption via digibank Online or digibank App or DBS/POSB ATMs from 6pm on the 1st business day of the month until 9pm on the last 4th business day of the month.

SRS Application (For DBS SRS Account Holders Only): Customers may submit SSB application / redemption via digibank Online or digibank App from 6pm on the 1st business day of the month until 9pm on the last 4th business day of the month.

For more information on our SGS Bonds/T-bills/SSB application processes and requirements, please visit our Help & Support article.

Frequently Asked Questions

When you're looking to invest in SGS Bonds and T-bills, there are two main ways to bid: Non-Competitive and Competitive. Here's a breakdown of the differences:

Overview
Non-Competitive Bid: With this option, you simply state the amount you wish to invest. You do not specify the return (yield) you expect.
Competitive Bid: For this type of bid, you must specify both the amount you want to invest and the desired return (yield).

Allotment (How your bid is fulfilled)
Non-Competitive Bid: Non-competitive bids are given priority and will be fulfilled first, covering up to 40% of the total amount issued.
Competitive Bid: Please be aware that you might not receive the full investment amount you applied for. This depends on how your desired yield compares to the final cut-off yield set for the issuance.

Reason to Select
Non-Competitive Bid: Choose this option if you are keen to invest in the bond regardless of the final return, or if you are unsure what yield to bid.
Competitive Bid: You should submit a competitive bid if you only wish to invest in the bond provided it offers a return above a specific level that you set.

Singapore Government Securities

Types of Singapore Government Securities

Singapore Government Securities (SGS) Bonds

Treasury Bills (T-bills)

Singapore Savings Bonds (SSB)

How to apply SGS Bonds and T-bills New Issues?​

How to buy or sell existing SGS Bonds and T-bills Issues?​

How to apply or redeem SSB?​

Frequently Asked Questions

Download digibank

How to apply SGS Bonds and T-bills New Issues?

How to buy or sell existing SGS Bonds and T-bills Issues?

How to apply or redeem SSB?