Dear readers, SBMAR24, the Mar 24 Singapore Savings Bond or code name, GX2403V is now open for application.
The closing date of the application is 26 Feb 24 and the allotment and issue dates are respectively 27 Feb 24 and 1 Mar 24.
For the most recent Singapore Savings Bonds that has closed, SBFEB24 GX24020T, or Feb 24 Singapore Savings Bonds, the average 10-year interest rate is less than 3% per annum for the first time ever since Aug 23.
Let us take a look at the average 10-year interest rates of Singapore Savings Bonds since Jan 2023 as below.
Jan-23 3.26% per annum
Feb-23 2.97% per annum
Mar-23 2.90% per annum
Apr-23 3.15% per annum
May-23 3.07% per annum
Jun-23 2.81% per annum
Jul-23: 2.82% per annum
Aug-23: 2.99% per annum
Sep-23: 3.06% per annum
Oct-23: 3.16% per annum
Nov-23: 3.32% per annum
Dec-23: 3.40% per annum
Jan-24: 3.07% per annum
Feb-24: 2.81% per annum
Since Dec 23 Singapore Savings Bonds, the average 10-year interest rates of Singapore Savings Bonds has been on a decline by around 0.3%.
Given that interest rates are widely to decline this year, and based on the above magnitude of decrease, I believe the average 10-year interest rate of SBMAR24, GX2403V to be around 2.50% per annum.
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