6-month T-bill
BS26121N
Auction 22 Oct 2026 · Issued 27 Oct 2026 · Matures 27 Apr 2027
This auction has not been priced yet. Results will appear here after the auction on 22 Oct 2026.
Planned issue size: S$8.6B
Last 6-month cut-off: 1.90% (BS26120W, auctioned 08 Oct 2026). A past result, not an estimate for this auction.
Applying through a bank? MAS notes that bank ATM and internet-banking applications may close 1 to 2 business days before the auction. Check your bank for its exact cut-off. Bids are due by noon on the auction date, and MAS publishes the aggregate results about an hour after the auction closes; this page updates after they are out. Source: MAS
See the estimated cut-off range for the next 6-month auction
6-month cutoff yield history
How this auction works
MAS runs a uniform-price auction: every successful bidder — competitive or non-competitive — pays the cutoff yield. The cutoff is the highest yield accepted to fill the issue size; the median is the middle of all submitted bids, so the gap between them shows how far the last accepted bid sat above the middle of the pool. The bid-to-cover ratio is the total amount bid divided by the amount issued. Which of the three yields you actually receive is covered in cut-off, median and average yields explained.
Frequently asked questions
- When does BS26121N mature?
- BS26121N matures on 27 Apr 2027. T-bills are zero-coupon: you pay below face value at issue and receive the full S$1,000 per bill at maturity.
- Can I buy BS26121N with CPF?
- T-bills are CPFIS-OA and CPFIS-SA eligible — you can fund the purchase from your CPF Ordinary Account or Special Account via your bank's CPFIS portal. There are bank-specific fees and a "dead-money" gap to watch. See /learn/how-to-buy-t-bills-with-cpf/ for the full mechanics.
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Compare & cross-check
- Latest 1-year T-bill: BY26103X — 1.92% cutoff
- Latest SSB: GX26110X — 1.67% year 1
- T-bill vs SSB, side by side →
- Return calculator →