Singapore Savings Bond rates

Checked against MAS at 9:20 pm, 12 Nov 2026 SGT. We check MAS twice every evening. MAS announces each issue’s rates on the first business day of the month before it is issued.

How to apply: DBS/POSB, OCBC or UOB internet banking, app or ATM (cash), or your SRS operator, by 9 pm, Wed 25 Nov. From $500, in multiples of $500; $2 a go. All the steps

SBDEC26 against the alternatives today

The Savings Bond’s figures are MAS’s average if held 1 or 2 years. T-bill and CPF rates are today’s and can change, so their 2-year figure assumes the same rate throughout; T-bills are the return on cash paid. CPF OA money is CPF savings, not cash. Over 1 year, the highest cash option today is the 1-year T-bill, 15 Oct at 1.96%. Compare any amount and length

Apply now, or wait for SBJAN27?

If you would hold it 1 year, SBJAN27 looks better (our estimate). Held 2 to 10 years, SBDEC26 pays more.

If you hold it	SBDEC26 (MAS)	SBJAN27 (our estimate)
1 year	1.83%	about 1.86%
2 years	1.91%	about 1.86%
5 years	2.16%	about 1.98%
10 years	2.39%	about 2.18%

Average % a year if held to then. Apply for SBDEC26 by 9 pm, Wed 25 Nov; SBJAN27’s rates come out on Tue 1 Dec and applications close on 28 Dec. The estimate moves until 30 Nov, and has been within 0.03 points of MAS’s 10-year average for 23 of the last 23 issues. Waiting also leaves your cash a month longer before it earns. You can apply for both, within the $200,000 limit.

The latest issue, year by year

A Savings Bond’s interest rate steps up each year, and every rate is fixed on the day MAS announces the issue. The “average a year” column is what you earn on average if you hold the bond to the end of that year; it is the number to compare with a fixed deposit of the same length. For the bonds you hold, our Savings Bond calculator shows when each one pays and how much room is left under the S$200,000 limit.

SBDEC26 steps up from 1.83% in year 1 to 2.83% in year 10, 1.00 points in all, and pays less than SBNOV26 in 8 of the 10 years, more in year 1.

SBDEC26 SBNOV26

Tap or hover on a column to read it.

0%1%2%3%4%

Year 1234Year 56789Year 10

Interest is paid every 6 months, on the first business day of Dec and Jun. The first payment for SBDEC26 is in June 2027. The bond matures on 1 Dec 2036 and pays back what you put in.

Keep your SSB, or switch to the new one?

You can redeem a Savings Bond in any month and apply for a new one in the same month, so people ask whether moving pays. MAS’s own FAQ puts the question this way: a new bond with a higher headline rate starts again at its lowest rate, while an older bond’s rates have already stepped up. Pick the bond you hold to see both sides over the same months.

Keep your SSB, or switch to SBDEC26?

The SSB you hold SBNOV26: 1.67% in year 1, 2.45% averageSBOCT26: 1.65% in year 1, 2.32% averageSBSEP26: 1.52% in year 1, 2.25% averageSBAUG26: 1.46% in year 1, 2.06% averageSBJUL26: 1.46% in year 1, 2.11% averageSBJUN26: 1.46% in year 1, 2.11% averageSBMAY26: 1.40% in year 1, 2.14% averageSBAPR26: 1.36% in year 1, 1.99% averageSBMAR26: 1.38% in year 1, 2.16% averageSBFEB26: 1.35% in year 1, 2.25% averageSBJAN26: 1.33% in year 1, 1.99% averageSBDEC25: 1.35% in year 1, 1.85% averageSBNOV25: 1.39% in year 1, 1.83% averageSBOCT25: 1.56% in year 1, 1.93% averageSBSEP25: 1.71% in year 1, 2.11% averageSBAUG25: 1.82% in year 1, 2.29% averageSBJUL25: 2.06% in year 1, 2.49% averageSBJUN25: 2.20% in year 1, 2.56% averageSBMAY25: 2.49% in year 1, 2.69% averageSBAPR25: 2.73% in year 1, 2.85% averageSBMAR25: 2.83% in year 1, 2.97% averageSBFEB25: 2.76% in year 1, 2.82% averageSBJAN25: 2.73% in year 1, 2.86% averageSBDEC24: 2.66% in year 1, 2.81% averageSBNOV24: 2.25% in year 1, 2.56% averageSBOCT24: 2.59% in year 1, 2.77% averageSBSEP24: 3.06% in year 1, 3.10% averageSBAUG24: 3.19% in year 1, 3.22% averageSBJUL24: 3.26% in year 1, 3.30% averageSBJUN24: 3.26% in year 1, 3.33% averageSBMAY24: 2.99% in year 1, 3.06% averageSBAPR24: 2.95% in year 1, 3.04% averageSBMAR24: 2.74% in year 1, 2.88% averageSBFEB24: 2.72% in year 1, 2.81% averageSBJAN24: 3.00% in year 1, 3.07% averageSBDEC23: 3.30% in year 1, 3.40% averageSBNOV23: 3.21% in year 1, 3.32% averageSBOCT23: 3.05% in year 1, 3.16% averageSBSEP23: 3.01% in year 1, 3.06% averageSBAUG23: 2.97% in year 1, 2.99% averageSBJUL23: 2.76% in year 1, 2.82% averageSBJUN23: 2.81% in year 1, 2.81% averageSBMAY23: 3.03% in year 1, 3.07% averageSBAPR23: 3.01% in year 1, 3.15% averageSBMAR23: 2.76% in year 1, 2.90% averageSBFEB23: 2.84% in year 1, 2.97% averageSBJAN23: 2.95% in year 1, 3.26% averageSBDEC22: 3.26% in year 1, 3.47% averageSBNOV22: 3.08% in year 1, 3.21% averageSBOCT22: 2.60% in year 1, 2.75% averageSBSEP22: 2.63% in year 1, 2.80% averageSBAUG22: 2.00% in year 1, 3.00% averageSBJUL22: 1.69% in year 1, 2.71% averageSBJUN22: 1.43% in year 1, 2.53% averageSBMAY22: 0.86% in year 1, 2.09% averageSBAPR22: 0.71% in year 1, 1.91% averageSBMAR22: 0.59% in year 1, 1.79% averageSBFEB22: 0.52% in year 1, 1.64% averageSBJAN22: 0.45% in year 1, 1.78% averageSBDEC21: 0.41% in year 1, 1.71% averageSBNOV21: 0.34% in year 1, 1.45% averageSBOCT21: 0.35% in year 1, 1.39% averageSBSEP21: 0.35% in year 1, 1.43% averageSBAUG21: 0.34% in year 1, 1.50% averageSBJUL21: 0.36% in year 1, 1.53% averageSBJUN21: 0.38% in year 1, 1.61% averageSBMAY21: 0.37% in year 1, 1.56% averageSBAPR21: 0.35% in year 1, 1.15% averageSBMAR21: 0.28% in year 1, 0.97% averageSBFEB21: 0.32% in year 1, 0.89% averageSBJAN21: 0.27% in year 1, 0.90% averageSBDEC20: 0.24% in year 1, 0.87% averageSBNOV20: 0.23% in year 1, 0.91% averageSBOCT20: 0.26% in year 1, 0.90% averageSBSEP20: 0.24% in year 1, 0.88% averageSBAUG20: 0.27% in year 1, 0.93% averageSBJUL20: 0.30% in year 1, 0.80% averageSBJUN20: 0.57% in year 1, 1.05% averageSBMAY20: 0.96% in year 1, 1.39% averageSBAPR20: 1.46% in year 1, 1.63% averageSBMAR20: 1.43% in year 1, 1.71% averageSBFEB20: 1.54% in year 1, 1.75% averageSBJAN20: 1.52% in year 1, 1.76% averageSBDEC19: 1.56% in year 1, 1.71% averageSBNOV19: 1.62% in year 1, 1.74% averageSBOCT19: 1.64% in year 1, 1.75% averageSBSEP19: 1.65% in year 1, 1.95% averageSBAUG19: 1.68% in year 1, 2.01% averageSBJUL19: 1.93% in year 1, 2.16% averageSBJUN19: 1.88% in year 1, 2.13% averageSBMAY19: 1.95% in year 1, 2.16% averageSBAPR19: 1.96% in year 1, 2.16% averageSBMAR19: 1.95% in year 1, 2.18% averageSBFEB19: 1.98% in year 1, 2.20% averageSBJAN19: 2.01% in year 1, 2.45% averageSBDEC18: 1.89% in year 1, 2.57% averageSBNOV18: 1.80% in year 1, 2.48% averageSBOCT18: 1.74% in year 1, 2.42% averageSBSEP18: 1.75% in year 1, 2.44% averageSBAUG18: 1.78% in year 1, 2.57% averageSBJUL18: 1.72% in year 1, 2.63% averageSBJUN18: 1.68% in year 1, 2.43% averageSBMAY18: 1.65% in year 1, 2.39% averageSBAPR18: 1.42% in year 1, 2.31% averageSBMAR18: 1.42% in year 1, 2.11% averageSBFEB18: 1.55% in year 1, 2.04% averageSBJAN18: 1.32% in year 1, 2.13% averageSBDEC17: 1.26% in year 1, 2.16% averageSBNOV17: 1.21% in year 1, 2.07% averageSBOCT17: 1.19% in year 1, 2.13% averageSBSEP17: 1.15% in year 1, 2.12% averageSBAUG17: 1.05% in year 1, 2.06% averageSBJUL17: 1.04% in year 1, 2.12% averageSBJUN17: 1.02% in year 1, 2.16% averageSBMAY17: 1.00% in year 1, 2.32% averageSBAPR17: 1.02% in year 1, 2.27% averageSBMAR17: 1.04% in year 1, 2.38% averageSBFEB17: 1.05% in year 1, 2.44% averageSBJAN17: 0.91% in year 1, 2.18% average

Amount

$

In multiples of $500.

Keep SBNOV25: interest until it matures in Nov 2035

$1,696.67

Switch to SBDEC26: interest over the same 8 years and 11 months

$2,101.42

Fees to switch: $2 to redeem, $2 to apply

−$4.00

Over those 8 years and 11 months

Switching earns $400.75 more after fees: about 2.36% a year against 1.90% a year.

From 1 Dec 2026, when SBDEC26 is issued. Money from redeeming SBNOV25 this month comes back by the second business day of that month, with the interest earned to then. SBDEC26 then keeps paying for another 13 months after SBNOV25 would have matured, at 2.71% to 2.83% a year. Rates are MAS’s; this is the interest only, before any change in rates you might get later.

Applications for SBDEC26 close at 9 pm on 25 Nov, and so do redemption requests for this month.

Full SSB calculator: every payment and date, redeeming early, all the SSBs you hold in one view, and SSB against T-bill and CPF OA.

Of the 119 Savings Bonds still running, switching to SBDEC26 pays for 36. We ran the same sums as the calculator above for every one, on $10,000, after the $4 fees. Tap a bond to see it in the calculator.

Show the other 26

If you hold	Keep: % a year left	Switch: % a year	Switching gains on $10,000
SBJAN26	2.09%	2.36%	+$249.50
SBOCT20	1.42%	2.07%	+$248.16
SBNOV20	1.50%	2.08%	+$223.25
SBMAR21	1.58%	2.11%	+$220.25
SBJUL26	2.16%	2.39%	+$211.91
SBJUN26	2.17%	2.38%	+$201.50
SBAUG20	1.51%	2.06%	+$199.34
SBJUN20	1.58%	2.05%	+$161.00
SBMAY26	2.21%	2.38%	+$154.59
SBSEP25	2.19%	2.35%	+$132.00
SBAPR21	1.81%	2.11%	+$129.00
SBMAR26	2.25%	2.37%	+$106.25
SBSEP26	2.29%	2.40%	+$99.25
SBFEB22	1.98%	2.17%	+$98.33
SBMAY20	1.77%	2.04%	+$89.50
SBAPR20	1.84%	2.03%	+$60.66
SBMAR22	2.08%	2.18%	+$46.50
SBOCT21	2.06%	2.15%	+$39.16
SBOCT26	2.36%	2.40%	+$35.33
SBDEC19	1.87%	2.00%	+$35.00
SBNOV19	1.87%	1.99%	+$30.17
SBOCT19	1.88%	1.99%	+$26.50
SBSEP21	2.09%	2.15%	+$24.50
SBFEB20	1.97%	2.02%	+$10.50
SBJAN20	1.98%	2.01%	+$5.08
SBAPR22	2.17%	2.18%	+$1.33

• You can hold up to $200,000 in Savings Bonds in total. MAS lets you redeem and apply in the same month within that limit, but the money for the new application is taken when you apply, before the redemption is paid.
• If more is applied for than is on offer, you may get less than you asked for: see who got what.
• The figures are interest only, with the rates MAS has set. They are not advice on whether to switch.

Next month’s rates: our estimate

How MAS sets the rates, and how we estimate them

MAS sets each issue’s rates from the yields on Singapore Government Securities over the month before it announces them: the simple average of each day’s 1, 2, 5 and 10-year benchmark yields, joined into a curve, then turned into rates that step up each year so that, held for any number of years, the bond earns about what a government bond of that length would. MAS publishes those daily yields, so the same sums can be done before the month is out.

Our estimate for SBJAN27: about 2.18% a year on average over 10 years, and about 1.86% in year 1. It uses the average SGS yields from 2 Nov to 12 Nov 2026 (8 business days): 1-year 1.880%, 2-year 1.860%, 5-year 1.977% and 10-year 2.180%. MAS uses the whole month, so the estimate will move as yields change between now and 30 Nov.

MAS announces the real rates on Tuesday 1 December. Until then, MAS’s are the only official numbers.

How close the method has been

We ran the same method on the last 23 issues, using only the SGS yields MAS published for each one’s month. It matched MAS’s 10-year average exactly for 21 of them and was within 0.03 points for 23. Year 1 matched exactly for 17 and was within 0.02 points for 23. No single year’s rate was more than 0.04 points out. We only show an estimate while at least 9 in 10 issues are within 0.03 points on the 10-year average.

The last estimate we showed before each announcement, against what MAS then announced:

• SBDEC26: we said about 2.38% on average (1.83% in year 1) from 22 days of yields; MAS announced 2.39% (1.83%).

Get next month’s rates by email

One email when MAS announces the next Savings Bond rates, with the year-by-year rates and the apply-by date.

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Who got what

When more is applied for than is on offer, MAS shares it out from the smallest amounts up: everyone gets up to the same cut-off amount, and some applicants picked at random get $500 more. When less is applied for, everyone gets the full amount.

More applied for than on offer (26) Everyone got all they applied for (108)

Tap or hover on a bar to read an issue.

0×1×2×3×4×

201620182020202220242026

SBNOV26: Everyone got the full amount they applied for: $293 million was applied for within the limits, against $400 million on offer.

26 of the 134 issues since October 2015 had more applied for than was on offer. “Applied for” counts applications within the limits; MAS’s figures, in Singapore dollars.

Savings Bond rates since 2015

Year 1 10-year average

3 yearsSince 2015

Tap or hover on the chart to read a value.

0%1%2%3%4%

202420252026

The last 24 issues

All 135 issues since October 2015, with every year’s rate and who got what: download the CSV (opens in any spreadsheet).

The highest 10-year average since October 2015 was SBDEC22’s 3.47% (announced Nov 2022); the lowest was SBJUL20’s 0.80% (announced Jun 2020). SBDEC26 sits at 2.39%.

All 135 issues since October 2015

Issue	Announced	Year 1	10-year average	Year 10
SBDEC26	2 Nov 2026	1.83%	2.39%	2.83%
SBNOV26	1 Oct 2026	1.67%	2.45%	3.08%
SBOCT26	1 Sep 2026	1.65%	2.32%	3.01%
SBSEP26	3 Aug 2026	1.52%	2.25%	2.82%
SBAUG26	1 Jul 2026	1.46%	2.06%	2.72%
SBJUL26	2 Jun 2026	1.46%	2.11%	2.81%
SBJUN26	4 May 2026	1.46%	2.11%	2.87%
SBMAY26	1 Apr 2026	1.40%	2.14%	2.96%
SBAPR26	2 Mar 2026	1.36%	1.99%	2.82%
SBMAR26	2 Feb 2026	1.38%	2.16%	2.88%
SBFEB26	2 Jan 2026	1.35%	2.25%	3.03%
SBJAN26	1 Dec 2025	1.33%	1.99%	2.67%
SBDEC25	3 Nov 2025	1.35%	1.85%	2.29%
SBNOV25	1 Oct 2025	1.39%	1.83%	2.44%
SBOCT25	1 Sep 2025	1.56%	1.93%	2.51%
SBSEP25	1 Aug 2025	1.71%	2.11%	2.85%
SBAUG25	1 Jul 2025	1.82%	2.29%	3.09%
SBJUL25	2 Jun 2025	2.06%	2.49%	3.22%
SBJUN25	2 May 2025	2.20%	2.56%	3.12%
SBMAY25	1 Apr 2025	2.49%	2.69%	2.99%
SBAPR25	3 Mar 2025	2.73%	2.85%	3.03%
SBMAR25	3 Feb 2025	2.83%	2.97%	3.15%
SBFEB25	2 Jan 2025	2.76%	2.82%	2.91%
SBJAN25	2 Dec 2024	2.73%	2.86%	3.01%
SBDEC24	1 Nov 2024	2.66%	2.81%	3.01%
SBNOV24	1 Oct 2024	2.25%	2.56%	2.87%
SBOCT24	2 Sep 2024	2.59%	2.77%	2.97%
SBSEP24	1 Aug 2024	3.06%	3.10%	3.21%
SBAUG24	1 Jul 2024	3.19%	3.22%	3.31%
SBJUL24	3 Jun 2024	3.26%	3.30%	3.42%
SBJUN24	2 May 2024	3.26%	3.33%	3.54%
SBMAY24	1 Apr 2024	2.99%	3.06%	3.27%
SBAPR24	1 Mar 2024	2.95%	3.04%	3.28%
SBMAR24	1 Feb 2024	2.74%	2.88%	3.26%
SBFEB24	2 Jan 2024	2.72%	2.81%	3.09%
SBJAN24	1 Dec 2023	3.00%	3.07%	3.27%
SBDEC23	1 Nov 2023	3.30%	3.40%	3.68%
SBNOV23	2 Oct 2023	3.21%	3.32%	3.63%
SBOCT23	4 Sep 2023	3.05%	3.16%	3.48%
SBSEP23	1 Aug 2023	3.01%	3.06%	3.20%
SBAUG23	3 Jul 2023	2.97%	2.99%	3.04%
SBJUL23	1 Jun 2023	2.76%	2.82%	3.02%
SBJUN23	2 May 2023	2.81%	2.81%	2.82%
SBMAY23	3 Apr 2023	3.03%	3.07%	3.21%
SBAPR23	1 Mar 2023	3.01%	3.15%	3.53%
SBMAR23	1 Feb 2023	2.76%	2.90%	3.26%
SBFEB23	3 Jan 2023	2.84%	2.97%	3.33%
SBJAN23	1 Dec 2022	2.95%	3.26%	3.63%
SBDEC22	1 Nov 2022	3.26%	3.47%	3.58%
SBNOV22	3 Oct 2022	3.08%	3.21%	3.30%
SBOCT22	1 Sep 2022	2.60%	2.75%	2.99%
SBSEP22	1 Aug 2022	2.63%	2.80%	3.04%
SBAUG22	1 Jul 2022	2.00%	3.00%	3.29%
SBJUL22	1 Jun 2022	1.69%	2.71%	3.00%
SBJUN22	4 May 2022	1.43%	2.53%	2.71%
SBMAY22	1 Apr 2022	0.86%	2.09%	2.37%
SBAPR22	1 Mar 2022	0.71%	1.91%	2.28%
SBMAR22	3 Feb 2022	0.59%	1.79%	2.18%
SBFEB22	3 Jan 2022	0.52%	1.64%	2.18%
SBJAN22	1 Dec 2021	0.45%	1.78%	2.44%
SBDEC21	1 Nov 2021	0.41%	1.71%	2.78%
SBNOV21	1 Oct 2021	0.34%	1.45%	2.69%
SBOCT21	1 Sep 2021	0.35%	1.39%	2.55%
SBSEP21	2 Aug 2021	0.35%	1.43%	2.54%
SBAUG21	1 Jul 2021	0.34%	1.50%	2.74%
SBJUL21	1 Jun 2021	0.36%	1.53%	3.04%
SBJUN21	3 May 2021	0.38%	1.61%	3.22%
SBMAY21	1 Apr 2021	0.37%	1.56%	3.01%
SBAPR21	1 Mar 2021	0.35%	1.15%	2.21%
SBMAR21	1 Feb 2021	0.28%	0.97%	1.94%
SBFEB21	4 Jan 2021	0.32%	0.89%	1.63%
SBJAN21	1 Dec 2020	0.27%	0.90%	1.64%
SBDEC20	2 Nov 2020	0.24%	0.87%	1.63%
SBNOV20	1 Oct 2020	0.23%	0.91%	1.79%
SBOCT20	1 Sep 2020	0.26%	0.90%	1.66%
SBSEP20	3 Aug 2020	0.24%	0.88%	1.56%
SBAUG20	1 Jul 2020	0.27%	0.93%	1.76%
SBJUL20	1 Jun 2020	0.30%	0.80%	1.47%
SBJUN20	4 May 2020	0.57%	1.05%	1.78%
SBMAY20	1 Apr 2020	0.96%	1.39%	1.91%
SBAPR20	2 Mar 2020	1.46%	1.63%	1.91%
SBMAR20	3 Feb 2020	1.43%	1.71%	2.12%
SBFEB20	2 Jan 2020	1.54%	1.75%	2.04%
SBJAN20	2 Dec 2019	1.52%	1.76%	2.04%
SBDEC19	1 Nov 2019	1.56%	1.71%	1.91%
SBNOV19	1 Oct 2019	1.62%	1.74%	1.91%
SBOCT19	2 Sep 2019	1.64%	1.75%	1.91%
SBSEP19	1 Aug 2019	1.65%	1.95%	2.36%
SBAUG19	1 Jul 2019	1.68%	2.01%	2.44%
SBJUL19	3 Jun 2019	1.93%	2.16%	2.55%
SBJUN19	2 May 2019	1.88%	2.13%	2.48%
SBMAY19	1 Apr 2019	1.95%	2.16%	2.49%
SBAPR19	1 Mar 2019	1.96%	2.16%	2.49%
SBMAR19	1 Feb 2019	1.95%	2.18%	2.55%
SBFEB19	2 Jan 2019	1.98%	2.20%	2.53%
SBJAN19	3 Dec 2018	2.01%	2.45%	2.90%
SBDEC18	1 Nov 2018	1.89%	2.57%	3.04%
SBNOV18	1 Oct 2018	1.80%	2.48%	2.98%
SBOCT18	3 Sep 2018	1.74%	2.42%	2.97%
SBSEP18	1 Aug 2018	1.75%	2.44%	2.97%
SBAUG18	2 Jul 2018	1.78%	2.57%	3.11%
SBJUL18	1 Jun 2018	1.72%	2.63%	3.41%
SBJUN18	2 May 2018	1.68%	2.43%	3.12%
SBMAY18	2 Apr 2018	1.65%	2.39%	3.00%
SBAPR18	1 Mar 2018	1.42%	2.31%	2.97%
SBMAR18	1 Feb 2018	1.42%	2.11%	2.87%
SBFEB18	2 Jan 2018	1.55%	2.04%	2.75%
SBJAN18	1 Dec 2017	1.32%	2.13%	3.06%
SBDEC17	1 Nov 2017	1.26%	2.16%	3.19%
SBNOV17	2 Oct 2017	1.21%	2.07%	3.10%
SBOCT17	4 Sep 2017	1.19%	2.13%	3.28%
SBSEP17	1 Aug 2017	1.15%	2.12%	3.35%
SBAUG17	3 Jul 2017	1.05%	2.06%	3.11%
SBJUL17	1 Jun 2017	1.04%	2.12%	3.18%
SBJUN17	2 May 2017	1.02%	2.16%	3.19%
SBMAY17	3 Apr 2017	1.00%	2.32%	3.73%
SBAPR17	1 Mar 2017	1.02%	2.27%	3.59%
SBMAR17	1 Feb 2017	1.04%	2.38%	3.50%
SBFEB17	3 Jan 2017	1.05%	2.44%	3.57%
SBJAN17	1 Dec 2016	0.91%	2.18%	3.40%
SBDEC16	1 Nov 2016	0.87%	1.87%	2.86%
SBNOV16	3 Oct 2016	0.77%	1.79%	2.77%
SBOCT16	1 Sep 2016	0.84%	1.79%	2.62%
SBSEP16	1 Aug 2016	0.87%	1.75%	2.47%
SBAUG16	1 Jul 2016	0.89%	2.03%	2.94%
SBJUL16	1 Jun 2016	0.93%	2.06%	2.82%
SBJUN16	3 May 2016	0.90%	1.94%	2.55%
SBMAY16	1 Apr 2016	0.97%	2.09%	2.69%
SBAPR16	1 Mar 2016	1.04%	2.19%	2.77%
SBMAR16	1 Feb 2016	1.09%	2.44%	3.35%
SBFEB16	4 Jan 2016	1.00%	2.50%	3.65%
SBJAN16	1 Dec 2015	1.21%	2.58%	3.69%
SBDEC15	2 Nov 2015	1.15%	2.44%	3.64%
SBNOV15	1 Oct 2015	1.18%	2.78%	3.83%
SBOCT15	1 Sep 2015	0.96%	2.63%	3.70%

Savings Bonds in plain words

• A Singapore Savings Bond is a 10-year bond from the Singapore Government, fully backed by it. A new one is issued every month.
• Interest is paid every 6 months. The rate steps up each year and is fixed for the bond’s whole life when MAS announces it.
• You can get your money back in any month, in full, with no penalty and no loss on the amount you put in: ask for a redemption in multiples of $500, and it is paid by the second business day of the next month with the interest earned to then. You cannot sell or transfer the bond to someone else.
• You can apply from $500, in multiples of $500, up to $200,000 held in total across cash and SRS. Each application and each redemption request costs $2, which is not refunded.
• You need to be 18 or over, with an individual CDP account and a bank account with DBS/POSB, OCBC or UOB, or an SRS account with one of them. CPF savings cannot be used. For individuals the interest is tax-free.

Step by step, with this month’s dates

1. Apply in the month before it is issued Now

   Applications open at 6 pm on the first business day of the month and close at 9 pm on the fourth-last business day. Apply from $500, in multiples of $500, with cash through DBS/POSB, OCBC or UOB internet banking, app or ATM, or through your SRS operator; CPF savings can’t be used. The bank charges $2 for each application, which is not refunded, and you can hold up to $200,000 in Savings Bonds (MAS).

   SBDEC26: apply by 9 pm, Wed 25 Nov. Add to calendar

2. Allotment

   MAS allots the bonds on the third-last business day. If more is applied for than is on offer, you may get less than you asked for, and the money for the rest comes back by the end of the second-last business day (MAS).

   SBDEC26 is allotted on Thu 26 Nov.

3. Issued on the first business day of the month

   A new Savings Bond is issued every month. Its rates for all 10 years were fixed the day MAS announced it, and they step up each year.

   SBDEC26: issued 1 Dec 2026, matures 1 Dec 2036. Year 1 1.83%, year 10 2.83%.

4. Interest every 6 months

   For cash, interest goes into the bank account linked to your CDP account; for SRS, into your SRS account (MAS). It is tax-free for individuals.

   SBDEC26 pays in Dec and Jun. What yours pays

5. Get your money back

   Either In any month

   Ask your bank, in multiples of $500, by 9 pm on the fourth-last business day; $2 a request. You get the amount in full, with the interest earned to then, by the second business day of the next month. There is no penalty (MAS).

   Keep or switch to the new one?

   Or At 10 years

   The money and the last interest payment are paid into the same account automatically (MAS).

Rules from MAS: Savings Bonds, how to buy and how to redeem, checked 12 Nov 2026. Dates and rates from MAS’s issuance calendar, read 9:20 pm, 12 Nov SGT.

More on this topic

Questions people ask

How we get these numbers

• Every rate, date and allotment figure on this page is MAS’s, from its Singapore Savings Bonds pages and the SGS statistics it publishes. We check twice every evening, Singapore time.
• Before the numbers go up, we check that no published rate has changed. If one has, or a check fails, the page keeps the last good numbers with their dates, and we look at it by hand.
• Two kinds of number are ours: the dollar amounts and the keep-or-switch figures, worked out from MAS’s rates as shown; and the estimate of next month’s rates, worked out from MAS’s published SGS yields following MAS’s technical specification for Savings Bonds.
• This page shows numbers, not advice on whether to buy, keep or switch. See our disclaimer, how we get our numbers and corrections.

Disclosure: the editor, Jeremiah Say, holds no Singapore Savings Bonds or T-bills. Numbers.sg is not paid by MAS, any bank or anyone selling these products.

Contains information from Singapore Savings Bonds issuance calendar, results and interest rates, and SGS benchmark yields accessed on 12 Nov 2026 from the Monetary Authority of Singapore website, which is made available under the terms of the MAS Terms of Use of Datasets. Numbers.sg is independent and is not endorsed by MAS.

Changes to this page

1. 8 Nov 2026

   Correction. The Savings Bond page said the first payment “is on Jun 2027” and the bond “matures on” a month: these are months, not dates, so both now read “in”. The payment months themselves were right. Singapore Savings Bonds

2. 8 Nov 2026

   Singapore Savings Bonds: a new chart sets this month’s bond against last month’s, year by year. SBDEC26 starts at 1.83% and pays less than SBNOV26 in 8 of the 10 years, more only in year 1. Singapore Savings Bonds

3. 2 Nov 2026

   MAS announced SBDEC26: 1.83% in year 1, 2.39% a year on average if held 10 years. Applications close on 25 Nov.

4. 28 Oct 2026

   SBNOV26 allotted: Everyone got the full amount they applied for: $293 million was applied for within the limits, against $400 million on offer.

5. 24 Oct 2026

   Singapore Savings Bonds redesigned: the official rate first with a bar for each year’s step-up, our estimate for next month marked as an estimate, a one-line how to apply, SSB against T-bills and CPF OA, an “apply now or wait?” answer by how long you’ll hold, every running SSB checked for whether switching pays (tap a row to load it), all issues with highs and lows, applied-for against on-offer for every issue, and an apply-by countdown. Charts and the calculator can be embedded, cited, printed or downloaded. The numbers are the same. See SSB rates

6. 24 Oct 2026

   Savings Bonds: on phones, tapping a bar in “Who got what” now keeps that issue’s numbers on screen (they were cleared as soon as your finger lifted). The numbers are the same. See the chart

7. 23 Oct 2026

   New: Singapore Savings Bond rates. This month’s rates from MAS year by year, our estimate of next month’s with how close the same method has been on past issues, whether switching an SSB you hold pays, who got what, and every issue since 2015 as a chart and a CSV. Checked against MAS twice every evening. See Savings Bond rates

8. 23 Oct 2026

   Savings Bond rates page redesigned: the answer in short under this month’s and next month’s rates, the editor named at the top, and a panel with the source, the time of our last check against MAS and how often our estimate has matched MAS. The numbers are the same. See Savings Bond rates