Dear readers, the application for the Singapore November 23 Singapore Savings Bonds (SBNOV23) will open next week. The interest for many will be on the average annual 10-year interest of the Nov 23 Singapore Savings Bonds.
Before I give my estimation of the likely average interest rate of SBNov23 Singapore Savings Bonds, let us recall the interest rate of previous Singapore Savings Bonds 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
From the above, we can see an increase in the average 10-year interest rate of the Singapore Savings Bonds from the Jun 23 bond to Oct 23 bond. I expect the trend of increased interest rates to continue to the Nov 23 bond, similar to how the 6-month Treasury Bill (T-bill) has increased from 3.73% per annum (BS23118F) to 4.07% per annum (BS23119H).
With interest rate of T-bill increasing significantly to over 4% per annum, will we likely see a significant increase for the average 10-year interest rate for Nov 23 Singapore Savings Bonds? This is the question that I am more interested in.
2 Oct 23 update: average 10-year interest rate of Nov 23 SSB is out
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