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The latest 6-month Singapore T-bill (BS26122V) cleared at a cut-off yield of 1.86% p.a. at its auction on 4 November 2026, down from 1.95% at the previous auction on 22 October, which was the highest cut-off yield of 2026. The bills will be issued on 10 November 2026 and mature on 11 May 2027.
BS26122V Auction Results
Here are the key details for this issue:
| Auction Date | 4 November 2026 |
| Issue Date | 10 November 2026 |
| Maturity Date | 11 May 2027 |
| ISIN | SGXZ26923052 |
| Cut-Off Yield | 1.86% p.a. |
| Previous Cut-Off Yield (BS26121N, 22 October 2026) | 1.95% p.a. |
MAS also publishes the cut-off price, median yield, average yield, total bids, and bid-to-cover ratio for each auction. For those figures, see the official MAS auction page for BS26122V.
How BS26122V Compares With Recent Auctions
The cut-off yield for BS26122V fell by 9 basis points from the previous auction, its lowest level since the 10 September auction, which cleared at 1.70%.
| Auction Date | Issue Code | Cut-Off Yield |
| 24 September 2026 | BS26119F | 1.92% |
| 8 October 2026 | BS26120W | 1.90% |
| 22 October 2026 | BS26121N | 1.95% |
| 4 November 2026 | BS26122V | 1.86% |
The result also came in below where the market was trading ahead of the auction. According to Beansprout, the 6-month T-bill closed at a yield of 1.92% on 29 October, and ilovessb shows the 6-month SGS benchmark yield at 1.90% on 3 November. Beansprout’s write-up of the auction points to a sharp rise in demand as a key reason for the lower yield.
What a 1.86% Yield Means for Your Money
A T-bill does not pay interest during its life. Instead, you buy it at a discount to its S$100 face value and receive the full face value at maturity, so the difference is your return. Over the 182 days from 10 November 2026 to 11 May 2027, a 1.86% yield works out to roughly S$92 to S$93 of return on every S$10,000 of face value. This is my own estimate from the cut-off yield, so your actual figure depends on the exact cut-off price.
For comparison, the best fixed deposit rates in my latest monthly roundup reach around 2.00% to 2.10% p.a. for specific banks, tiers, and tenures. See my Best Fixed Deposit Rates in Singapore page for the current comparison. The November 2026 Singapore Savings Bond starts at 1.67% in Year 1, as covered in my SBNOV26 breakdown. Unlike a Singapore Savings Bond, a T-bill cannot be redeemed early with MAS, so it suits money you can leave untouched for six months.
When Is the Next 6-Month T-Bill Auction
The BS26122V auction has already closed, so applications for it are no longer open. The next 6-month T-bill, BS26123A, will be announced on 12 November 2026 and auctioned on 19 November 2026, with issue on 24 November 2026 and maturity on 25 May 2027.
To apply for the next auction, individual investors can use the ATMs and internet banking portals of DBS/POSB, OCBC, or UOB for cash applications, apply through their SRS operator for SRS funds, or apply through their CPFIS-OA agent bank for CPF Ordinary Account funds. MAS notes that applications through bank channels may close 1 to 2 business days before the auction, so check your bank’s exact cut-off time. See my T Bills Singapore guide for the full walkthrough.
BS26122V FAQ
What was the cut-off yield for BS26122V?
1.86% p.a., set at the auction on 4 November 2026.
When does BS26122V mature?
11 May 2027, 182 days after its 10 November 2026 issue date.
Can I still apply for BS26122V?
No. The auction closed on 4 November 2026. The next 6-month T-bill, BS26123A, is auctioned on 19 November 2026.
Is 1.86% a good T-bill yield?
It is below the 2026 high of 1.95% reached about two weeks earlier, and below the best fixed deposit rates this month. However, a T-bill gives you a government-backed return over a short tenor. Whether it suits you depends on whether you can leave the money untouched, since T-bills cannot be redeemed early with MAS.
Bringing It Together
The BS26122V result shows 6-month T-bill yields easing from the 2026 high of 1.95%, although 1.86% is still well above the 1.36% seen back in February. Before applying to the next auction, compare the yield against current fixed deposit rates and Singapore Savings Bond rates, and remember that a T-bill locks in your money until maturity.
Disclaimer: This is not a sponsored post, and the opinions are solely based on My Sweet Retirement’s own research. Auction results are based on MAS data as reported by ilovessb.com and Beansprout, and the return estimate is my own calculation. Always verify directly on the MAS Auctions and Issuance Calendar before making investment decisions.