Singapore Savings Bonds (SSB) Calculator
Estimate the interest and total value of a Singapore Savings Bond across its 10-year step-up schedule, or for an early redemption.
Year-1 interest
1.46%
Year-10 interest
2.81%
10-year average
2.11%
A new Savings Bond is issued every month — applications typically open on the first business day and close about a week before issue. Exact dates auto-update from MAS.
| Issue | Year 1 | Year 10 | 10-yr avg |
|---|---|---|---|
| SBJUL26 | 1.46% | 2.81% | 2.11% |
| SBJUN26 | 1.46% | 2.87% | 2.11% |
Source: MAS Singapore Savings Bonds · auto-updates daily · as of 2026-06-05
Minimum $500, in multiples of $500 (max $200,000 per individual).
SSB have a 10-year tenor but can be redeemed penalty-free in any month.
Total value at redemption
$12,110
Principal $10,000 + interest after 10 years
Total interest
$2,110
Effective return
2.11%
p.a. (simple average)
10-yr avg if held full
2.11%
Estimates only. SSB rates are fixed at issuance but refresh with each monthly issue, so a bond you buy will differ. Interest is paid every 6 months and SSB are capital-guaranteed (redeemable at par). The step-up schedule shown is an approximation calibrated to the current 10-year average.
| Year | Coupon rate | Interest | Cumulative interest |
|---|---|---|---|
| 1 | 1.44% | $143.50 | $143.50 |
| 2 | 1.58% | $158.50 | $302.00 |
| 3 | 1.74% | $173.50 | $475.50 |
| 4 | 1.89% | $188.50 | $664.00 |
| 5 | 2.04% | $203.50 | $867.50 |
| 6 | 2.19% | $218.50 | $1,086.00 |
| 7 | 2.34% | $233.50 | $1,319.50 |
| 8 | 2.48% | $248.50 | $1,568.00 |
| 9 | 2.64% | $263.50 | $1,831.50 |
| 10 | 2.79% | $278.50 | $2,110.00 |
How Singapore Savings Bonds work
Singapore Savings Bonds are one of the safest places to park cash: they are backed by the Singapore Government, capital-guaranteed, and can be redeemed in any month without penalty. That makes them a popular home for an emergency fund or short-to-medium-term savings, paying more than most bank deposits while keeping your money fully accessible.
Each bond pays a coupon every six months, and the rate steps up the longer you hold. Because the early-year rates are lower than the later ones, the headline “10-year average return” is only achieved if you hold the bond for the full term. This tool lets you see both the full-term return and what you would earn if you cash out early.
SSB versus T-bills and fixed deposits
SSB suit savers who value flexibility and a guaranteed return that improves over time. For a single short tenor you might compare a 6-month or 1-year T-bill, while a longer growth horizon usually calls for diversified investing. See our T-bill and compound interest calculators to weigh the alternatives.
Frequently asked questions
What are Singapore Savings Bonds (SSB)?
SSB are a safe, fully capital-guaranteed bond issued and backed by the Singapore Government. They have a 10-year tenor, pay interest every 6 months, and can be redeemed in any month with no penalty — you always get your principal back plus accrued interest. The minimum investment is S$500 (in multiples of S$500) and the maximum individual holding is S$200,000.
How does the SSB step-up interest schedule work?
SSB pay a “step-up” coupon: the rate is lowest in year 1 and rises each year. The rates are fixed at the time you buy and never change. If you hold the bond for the full 10 years, the average interest equals the headline 10-year average return. Redeem early and you only earn the lower early-year coupons, so your effective return is lower.
How is my SSB return estimated here?
We total the per-year coupons for the number of years you hold: total interest = amount × the coupon rate for each year held. The schedule steps up from roughly 1.46% in year 1 to about 2.81% in year 10, calibrated so the 10-year simple average matches the current headline figure. The effective annual return is the average of the coupon rates over your holding period.
Do SSB rates change?
Yes. A new SSB is issued every month with its own fixed rates, based on the average 10-year Singapore Government Securities yield of the prior month. Once you buy, your bond’s rates are locked for its full life — but a bond bought in a different month will have a different schedule. This calculator uses the latest published 10-year average.