Fixed Income

Singapore Savings Bonds (SSB) — Interest Rates & Historical Returns

Singapore Savings Bonds (SSB) are government-backed bonds issued monthly by the Monetary Authority of Singapore (MAS). They offer retail investors a safe, flexible, and step-up interest rate product with no capital loss — you can redeem your investment any month.

Key Features

FeatureDetail
IssuerSingapore Government (via MAS)
Minimum InvestmentSGD 500
Maximum per PersonSGD 200,000
TenureUp to 10 years
Interest PaymentEvery 6 months (Jan & Jul)
Early RedemptionAny month, no penalty
RiskCapital guaranteed by Singapore Government
Credit RatingAAA (Singapore sovereign)

Latest Issue — SBAPR26GD (2026-04)

Data source: MAS historical records (hardcoded, up to Apr 2026)

YearInterest Rate (p.a.)
Year 12.70%
Year 22.74%
Year 32.74%
Year 42.74%
Year 52.74%
Year 62.74%
Year 72.74%
Year 82.74%
Year 92.74%
Year 102.74%

| 10-Year Average | 2.74% |

10-Year Return Projection (per SGD 10,000 invested)

MetricValue
PrincipalSGD 10,000
Total Interest (10 yr)SGD 2,736.00
Total Return27.36%
Average Annual Return2.74%

Note: SSB pays simple interest on the original principal every 6 months. Interest is not compounded.

Historical 1st-Year Interest Rates (Last 24 Months)

Issue MonthBond IDYear 1 Rate5-Year Avg10-Year Avg
Apr 2026SBAPR26GD2.70%2.73%2.74%
Mar 2026SBMAR26GD2.72%2.75%2.76%
Feb 2026SBFEB26GD2.73%2.76%2.77%
Jan 2026SBJAN26GD2.74%2.77%2.78%
Dec 2025SBDEC25GD2.75%2.78%2.79%
Nov 2025SBNOV25GD2.76%2.79%2.80%
Oct 2025SBOCT25GD2.78%2.81%2.82%
Sep 2025SBSEP25GD2.80%2.83%2.84%
Aug 2025SBAUG25GD2.82%2.85%2.86%
Jul 2025SBJUL25GD2.83%2.86%2.87%
Jun 2025SBJUN25GD2.84%2.87%2.88%
May 2025SBMAY25GD2.85%2.89%2.90%
Apr 2025SBAPR25GD2.89%2.92%2.93%
Mar 2025SBMAR25GD2.94%2.94%2.94%
Feb 2025SBFEB25GD2.97%2.97%2.97%
Jan 2025SBJAN25GD2.97%2.97%2.97%
Dec 2024SBDEC24GD3.01%2.98%2.97%
Nov 2024SBNOV24GD3.07%3.01%3.00%
Oct 2024SBOCT24GD3.22%3.12%3.10%
Sep 2024SBSEP24GD3.30%3.19%3.16%
Aug 2024SBAUG24GD3.26%3.16%3.14%
Jul 2024SBJUL24GD3.33%3.21%3.18%
Jun 2024SBJUN24GD3.31%3.17%3.14%
May 2024SBMAY24GD3.33%3.21%3.18%

Rate Summary

MetricValue
Current 1st-Year Rate2.70%
Year-on-Year Change-0.19%
Highest 1st-Year Rate (in dataset)3.55% — 2023-10
Lowest 1st-Year Rate (in dataset)2.70% — 2026-04
Current 10-Year Average2.74%

How to Apply

  1. Via DBS/POSB/OCBC/UOB internet banking or ATM
  2. Via CDP account linked to any of the above banks
  3. Applications open on the 1st business day of each month and close 4 business days before month-end
  4. Allotment is on a balloting basis if oversubscribed (excess is refunded)

Comparison with Other SGD Instruments

InstrumentApprox. RateLiquidityRisk
SSB (latest issue)2.70% yr1 / 2.74% avgMonthly redemptionZero (AAA)
CPF OA2.50%RestrictedZero
CPF SA4.00%RestrictedZero
Bank Fixed Deposit (12-month)~2.50–3.00%Locked until maturityNegligible
SGS T-bills (6-month)~3.00–3.20%Secondary marketNegligible

Data Source & Methodology

  • Interest rate data: MAS eServices API / MAS website
  • Returns computed as simple interest on principal (SSB does not compound interest)
  • Historical rates from January 2023 to April 2026
  • To refresh data, run: python3 scripts/fetch_ssb_data.py
Singapore Savings Bonds SSB Fixed Income Government Bonds Interest Rate MAS
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