SBJAN23 GX23010Z Results

Singapore Savings Bonds SBJAN23 GX23010Z

SBJAN23 GX23010Z results were announced today. The results came in a bit unexpected. I was allotted the full amount that I applied for. This month’s issue is so much different as compared to SBAUG22 whereby I was only partially allocated.

Besides using cash, I have also dumped all my money in SRS into this month’s issue of Singapore Savings Bond since I do not plan to withdraw the money anyway until my retirement age at 62.

If you look at the chart above, the effective interest rate for SBAUG22 is 3.0% as compared to SBJAN23 interest rate of 3.26% if you held the Singapore Savings Bond for 10 years. Is Singapore Savings Bond not attractive anymore?

In my opinion, I think that most investors had flocked to purchase Treasury Bills as the recent issue of the Treasure Bill is at least 4.28% for 6 months.

Unless you are very rich, if you applied for S$173,000 or higher, you would be allotted either S$172,500 or S$173,000. But anyway, the maximum investment allowed into Singapore Savings Bond is $200,000.

Below are the details of the results.

Total amount appliedS$909.7 million
Total amount within individual allotment limitsS$902.1 million
Total amount allottedS$900.0 million
Quantity ceilingThis Savings Bond was allotted using the Quantity Ceiling format. Applicants who applied for S$172,500 or lower were fully allotted, subject to the individual allotment limits.
Applicants who applied for S$173,000 or higher were allotted either S$172,500 or S$173,000.
Approximately 95.93% of these applicants were selected at random and allotted the additional S$500.

 

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