Compare T-bill and SSB returns.
S$
Compare from
- Savings Bond
- Savings Bond Oct 2026
- Closed 25 Sept 2026 · rate steps up yearly
- 6-month T-bill
- 1.70% a year
- 10 Sept 2026 auction · same rate on every roll
| Held | Savings Bond | T-bill | Difference |
|---|---|---|---|
| 1 year | S$10,1651.65% a year | S$10,170Higher | S$5 |
| 2 years | S$10,3371.67% a year | S$10,343Higher | S$6 |
| 5 years | S$11,025Higher1.97% a year | S$10,879 | S$145 |
| 10 years | S$12,578Higher2.32% a year | S$11,836 | S$742 |
Assumptions
- Savings Bond returns use the MAS step-up schedule for the chosen issue
- T-bills roll every six months at the cut-off yield of the last auction before that issue closed
- Interest compounds once a year
- Both are Singapore Government Securities
Frequently asked questions
- Does a T-bill or a Savings Bond pay more?
- Over six months, usually the T-bill, since its auction tracks current rates. Over several years the Savings Bond's step-up rates can overtake it, while each T-bill roll takes the next auction's rate.
- Can I get my money back early?
- A Savings Bond can be redeemed in any month with accrued interest and no penalty. A T-bill must be sold on the secondary market before it matures, at the price a buyer offers.
- How much can I hold?
- Savings Bonds are capped at S$200,000 per person across all issues, according to MAS. T-bills have no individual cap and can be bought with cash, SRS or CPF savings.
Further reading
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