The cutoff yield for 1-Year Singapore Treasury Bills (SGS T Bills) BS25106X is 2.73% per annum. SGS T Bills are low risk in nature and can be the next alternative place to grow your money. In terms of interest rates, Singapore Treasury Bills (SGS T Bills) usually offers higher interest rates than Singapore Savings Bond and most fixed deposits. However, this issue of SGS T Bill (BS25106X) is offering returns lower than 2.85% per annum offered by SBAPR25.
Having said that, it is not an apple-to-apple comparison. If you held SBAPR25 for the 1st year, the return is also 2.73% per annum. The interest rate per annum is 2.85% only if you held SBAPR25 for 10 years.
As you can see from the above chart, the cut off yield for Singapore Treasury Bills have been falling since February (BS25102Z). But it seems that the interest rate had recovered slightly with the latest issue of SGS T Bills (BS25106X) jumping back to 2.73% per annum.
What are Singapore Treasury Bills?
Singapore Treasury Bills are short-term debt instruments issued by the Singapore government to raise funds for its financing needs. These bills are typically sold at a discount from their face value and mature in 3, 6, or 12 months. They are considered a safe investment as they are backed by the Singapore government’s creditworthiness.
Investors can purchase these bills directly from the Singapore government or through designated financial institutions. Treasury Bills are often used by investors as a low-risk, liquid investment option with a fixed return.
The Announcement Date and Auction Date of Singapore Treasury Bills can be found at Monetary Authority of Singapore (MAS) website under Auctions and Issuance Calendar. The issuance calendar 2025 is available below. For convenience, you can also download a copy to keep on your computer’s desktop.
Singapore T-Bills Calendar
For convenience, I am sharing the Singapore Treasury Bills (T-Bills) Auction and Issuance Calendar here. If you need the Treasury Bill results such as the status of each issuance, please refer to Treasury Bills at MAS website – Auctions and Issuance Calendar.
6-Months T-Bills Calendar
1-year T-Bills Calendar
Tracking of Singapore Savings Bonds (SSB) and Treasury Bills (T-Bills) All in One Place
Stocks Café is probably the only software that I know which allows you to track your purchased Singapore Savings Bonds and Treasury Bills (T-Bills) all in one place together with your stock investments. This makes it easy to track your total net investments.
Stocks Café allows you to create portfolios. You can use portfolio to different your investments. For example, I created three portfolios in Stocks Café, namely Stocks, Singapore Savings Bonds and Treasury Bills. This allow me to categorize how much I allocate for each investment.
Should you invest in SGS T Bills or Fixed Deposits right now?
As shared in March’s post about fixed deposits, MayBank2u Singapore offered the highest fixed deposit interest rate at 2.90% per annum for a 6-months tenure. However, the fixed deposit placement must be done at the branch.
In the second position would be RHB Bank whereby the bank is offering 2.70% per annum for a 3 or 6-months fixed deposit placement.
If you compare MayBank2u 12-month fixed deposit against Singapore Treasury Bills (SGS T Bills) BS25106X, needless to say, SGS T Bill lose out to fixed deposit.
Buy SGS T Bills or put your money in High Yield Savings Account UOB Stash Account?
Below are the tiered interest rates offered by UOB Stash Account.
| Monthly Average Balance | Base interest (p.a.) | Bonus interest (p.a.) | Total interest (p.a.) |
| First S$10,000 | 0.05% | 0.00% | 0.05% |
| Next S$30,000 | 0.05% | 1.95% | 2.00% |
| Next S$30,000 | 0.05% | 2.95% | 3.00% |
| Next S$30,000 | 0.05% | 4.95% | 5.00% |
| Above S$100,000 | 0.05% | 0.00% | 0.05% |
To decide between SGS T Bill and UOB Stash Account depends on how much cash you have. If I have 100K, I will probably go for UOB Stash Account. According to the UOB Stash calculator, I would receive a total interest amount of S$3004.91 if I placed 100K in UOB Stash Account from January to December 2025. Thus, the yield per annum is estimated to be 3% per annum.
My Thoughts on SGS T Bills Singapore BS25106X
The interest rates for Singapore Treasury Bills seem to be recovering but yet to be attractive. Given that some high interest yielding savings account out there such as UOB Stash Account is giving me around 3% per annum, I probably will not be buying any Singapore Treasury Bills at the moment.