The SSB October 2024 issue of Singapore Savings Bonds by the Monetary Authority of Singapore posted a significant decline in its returns compared to the previous issue.
First-year returns are 2.59%The 10-year average return is 2.77%
This is definitely a disappointing issue for investors hoping to put more cash into SSBs before the Fed rate cuts take place this month.
To make matters worse, next month’s issue (see below) isn’t likely going to see higher returns.
On my SSB historical interest rates page, you can view the full history of the Singapore Savings Bonds issues presented in table format and the number of SSBs for each issue that investors have already redeemed.
Singapore Savings Bonds returns reached the previous high in December 2023 (3.40%) as the momentum of the Fed rate hikes gathered pace.
Looking at the table above, I think many people have already started redeeming their inferior issues. You probably should, as well.
Short-term options such as the Fullerton Cash Fund and Mari Invest (see comparison) are currently good choices that I am using for returns on idle cash.
If you are interested in knowing more about Singapore Savings Bonds, check out my articles below.
Table of Contents1. SSB Oct 2024 – SBOCT24 GX24100H
Here are the details and yearly interest rates on the latest issue of the SSB October 2024.
Amount Offered – S$800 millionInterest Payment Months – October and AprilOpening Date – 02 September 2024 at 6:00 pm (First business day)Closing Date – 25 September 2024 at 9:00 pm (Fourth last business day)Allotment Date – 26 September 2024 after 3:00 pm (Third last business day)Issue Date – 01 October 2024Maturity Date – 01 October 20342. Recap: What are Singapore Savings Bonds?
Singapore Savings Bonds are safe and flexible bonds for individual