By MoneyBees
See the interest a Singapore Savings Bond pays each year on its step-up schedule, what you get back if you redeem early, and how it compares with the latest 6-month T-bill. Uses the latest issue's rates from MAS, or type the rates of a bond you already hold.
S$500 steps, up to S$200,000 in total.
Interest earned
$2,479.00
over 120 months
You get back
$12,477.00
after $2 in bank fees
Return a year
2.48%
simple, after fees
The same $10,000 in 6-month T-bills at the latest cut-off of 1.90% (8 Oct 2026) would earn about $1,900.00 over 120 months, if every rollover got that yield. The SSB rate is locked for 10 years; a T-bill yield is set at each auction.
MAS gives this issue a 10-year average return of 2.45% a year. Apply by 27 Oct 2026.
Step-up rates for GX26110X. Source: MAS.
| Year | Rate | Interest | Total so far |
|---|---|---|---|
| Year 1 | 1.67% | $167.00 | $167.00 |
| Year 2 | 2.00% | $200.00 | $367.00 |
| Year 3 | 2.19% | $219.00 | $586.00 |
| Year 4 | 2.35% | $235.00 | $821.00 |
| Year 5 | 2.49% | $249.00 | $1,070.00 |
| Year 6 | 2.61% | $261.00 | $1,331.00 |
| Year 7 | 2.70% | $270.00 | $1,601.00 |
| Year 8 | 2.79% | $279.00 | $1,880.00 |
| Year 9 | 2.91% | $291.00 | $2,171.00 |
| Year 10 | 3.08% | $308.00 | $2,479.00 |
Interest is paid every 6 months, half of the year's amount each time. Redeem early and MAS pays the interest earned up to then.
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S$10,000 at the GX26110X rates earns 1.67% in year 1, $167.00, and 2.00% in year 2, $200.00. Redeem after 18 months and you get year 1's interest plus half of year 2's, $267.00. Less S$4 in fees, you keep $263.00.
Hold all 10 years and the interest averages $247.90 a year. MAS's 10-year average return differs a little because it counts when each payment arrives.
Each year has its own rate, fixed when the issue opens. Interest for a year is your amount x that year's rate, paid in two halves every 6 months. S$10,000 at a year 1 rate of 1.67% earns S$167 in year 1.
You can redeem in any month with no penalty. You get your money back plus the interest earned up to then, by the 2nd business day of the next month. Your bank charges S$2 per redemption request.
At least S$500, in multiples of S$500, and up to S$200,000 across all the Savings Bonds you hold.
Your bank charges a S$2 transaction fee for each application and each redemption request. Neither is refunded. There is no fee when a bond matures.
It is the yearly return MAS works out if you hold the bond for all 10 years. Because the rates step up, holding for less than 10 years gives you a lower return than this figure.
An SSB locks in rising rates for 10 years and you can leave in any month. A T-bill's yield is set at each auction and you cannot sell it back to MAS early. This page puts the latest 6-month T-bill cut-off next to your SSB so you can compare.
Yes. Choose the older-issue option and type the 10 yearly rates from your CDP statement or the MAS page for that issue.
Yes. MAS lets you buy Savings Bonds with SRS money; interest and redemptions are paid into your SRS account.
These calculators provide general estimates for educational purposes only and are not personalised financial advice. Results may rely on rates and rules that change over time, so verify against official sources (IRAS, CPF Board, HDB, MAS) or consult a licensed financial adviser before making decisions.
Junxiong-WFG Organisation is an authorised representative of AIA Financial Advisers Private Limited (Reg. No. 201715016G).