Singapore Savings Bond opens for February issuance with interest rates under 3%

THE interest rates for the latest Singapore Savings Bond (SSB) have further slipped to 2.84 per cent for the first year and 2.97 per cent for the 10-year average, even as other short-term market investment products offer yields of around 4 per cent.

The Monetary Authority of Singapore (MAS) website showed that the 10-year bond for retail investors opened on Tuesday (Jan 3) for issuance in February, offering interest rates much lower than its recent tranches.

The last issuance has a first-year and 10-year average returns of 2.95 and 3.26 per cent, respectively, while the corresponding interest rates for the December tranche are 3.26 per cent and 3.47 per cent.