Singapore Savings Bond offers all-time high 1st year and 10-year average interest rates
AGAINST a rising-interest-rate backdrop, the Singapore Savings Bond (SSB) is offering an all-time high first year and 10-year average return of 3.26 per cent and 3.47 per cent respectively for the December tranche, which opened on Tuesday (Nov 1).
Its interest rates are higher than last issuance’s first-year interest rate of 3.08 per cent and 10-year average rate of 3.21 per cent. Despite the allotment amount of S$900 million, that issuance was oversubscribed with applications totalling S$2.2 billion; those who applied for over S$10,000 were allotted either S$10,000 or S$10,500 on a random-selection basis.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Banking & Finance
Great Eastern chairman appeals for patience as shareholders fume over share price ‘disaster’
S&P Global first-quarter profit beats estimates on strong product demand
Thai banks cut rate for some borrowers after push from PM
Money laundering accused who faces 22 charges to plead guilty on May 14
BNP Paribas beats estimates as lower costs offset trading slump
Japan brokerage Daiwa’s Q4 profit more than doubles as markets recover