FAQ
Common questions about Singapore Savings Bonds and T-bills. Answers sourced from MAS, CPF, and IRAS where applicable. Informational only — not financial advice.
Are SSBs safe?
SSBs are issued by the Monetary Authority of Singapore (MAS) on behalf of the Singapore government. The Singapore government holds a AAA credit rating from major agencies. You cannot lose principal on an SSB held to maturity or redeemed before maturity — redemptions are at face value plus accrued interest. The main risks are inflation eroding real returns and the opportunity cost of holding when better alternatives emerge.
Can I lose money on a T-bill?
Held to maturity, no — T-bills return full face value at maturity. If you sell in the secondary market before maturity, you can realize a gain or loss depending on where market yields have moved since you bought. Credit risk is minimal given Singapore's AAA rating.
Can I use CPF to buy SSB?
No. SSBs are purchasable with cash or SRS funds only. CPF OA and CPF SA funds are NOT eligible for SSB purchases. If you want to use CPF for government-backed fixed income, consider T-bills via CPFIS-OA instead.
Can I use CPF to buy T-bills?
CPF OA funds can be used via CPFIS-OA to buy T-bills through DBS/POSB, OCBC, or UOB. CPF SA funds cannot — CPFIS-SA is restricted to approved bonds, not T-bills.
Is SSB or T-bill interest taxable?
Interest from SGS, T-bills, and SSB is tax-exempt for Singapore-resident individuals under the Qualifying Debt Securities (QDS) scheme. Exception: interest derived through a partnership or trade/business is not exempt.
How much SSB can I buy?
The individual holding limit is S$200,000 across all SSB holdings (not per issue). This limit was raised from S$100,000 in 2019. The minimum subscription per application is S$500, in multiples of S$500.
How much T-bill can I buy in one auction?
There is no minimum holding cap, but a non-competitive bid from a single individual is capped at S$1,000,000 per auction. The minimum per application is S$1,000, in multiples of S$1,000. If total non-competitive bids exceed 40% of the issue size, allocations are pro-rated.
When can I redeem my SSB?
Any month after the first 6 months of holding. Submit a redemption request during the monthly application window (1st business day to 9pm on the 4th-last business day). Proceeds arrive on the 2nd business day of the following month. There is a S$2 redemption fee.
Can I sell my T-bill before maturity?
Yes, T-bills are tradable in the secondary market. For retail holders, this typically means selling in person at a DBS/OCBC/UOB branch. You'll receive the current market price, which may be above or below your purchase price depending on where yields have moved.
When are T-bill and SSB auction results published?
T-bill results are published by MAS on the auction day afternoon, after the 12 noon bid close. SSB allotment results are published at the end of the application window (around the last business day of the month).
Are SSBs better than fixed deposits?
It depends on your priorities. SSB advantages: no lock-in (redeem any month), government-backed, step-up coupons reward holding. Fixed deposit advantages: sometimes higher rates for short-term promotions (6-12 months), simpler product. Neither is universally better — compare current rates and your liquidity needs. This is not advice.
What happens if MAS data shown here is wrong?
We fetch data from the MAS statistics API and display it as-is. If a number looks wrong, check MAS directly (link on every event page). Please report discrepancies via contact page so we can fix our parser. Always verify on MAS before taking action — we are not the source of truth.
Is my personal data collected when I visit?
We collect minimal data: Cloudflare logs (IP, URL, timestamp) for abuse prevention, and optionally anonymous analytics if you accept cookies. We do not require registration, do not collect names or emails to view content, and do not sell data. See the privacy policy for full details.
How often is data refreshed?
Our ingest runs every few hours (see the freshness badge at the bottom of every page for the exact last-updated time). T-bills are auctioned about every 2 weeks; SSBs are issued monthly — so intra-day refreshes don't produce new data most of the time.
Can I access the raw data?
Yes. CSV exports are available at /api/ssb.csv and /api/tbills.csv. Current freshness status is at /api/freshness.json. For bulk access or licensing questions, see the contact page. All data originates from MAS and is redistributed under CC-BY 4.0.
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