By offering a yield exceeding 3%, the SSB July 2024 issue attracted a strong response from yield hunters and was oversubscribed.
$1.3 billion (1.2x) worth of applications were received out of the total $1.1 billion available.
The quantity ceiling is $59,000 (or $59,500), depending on how much you have applied for.
If you did not get the full allocation, the August 2024 issue is expected to be an attractive option (about 3.2%) as well, so watch out for it.
Table of ContentsSSB Trend As Of July 2024
The Singapore Savings Bonds SSB historical interest rate has been very attractive for the past year until the dip in yield happened in February and March.
Ever since the yield rebounded in April 2024 (3.04%), June 2024 (3.33%) and July 2024 (3.30%) have continued the uptrend.
Unfortunately, the Singapore 10-year government bond chart might be downtrending for yield hunters, guaranteeing slightly lower returns on the August 2024 issue of the SSB.
Nevertheless, the yield for the next issue of SSB is expected to be in the attractive range of 3.2%.
For every issue of the Singapore Savings Bonds, the returns shall always be equal to the ten-year reference SGS yield if it is held to maturity.
The SSB yield is determined without guesswork. Official documentation detailing the calculations is available, or you can always use a free tool to do so.
You can compare the charts (SSB avg. 10-year yield vs. 10-year reference yield) for the last ten years below and see how the general trends have mirrored each other.
Singapore Savings Bonds Issues From 2016 to 2024
SSB returns have inched upward because the Fed has embarked on interest rate hikes in an attempt to combat inflation.
Past SSB interest rates climbed from the lows of January 2022