--- title: "Singapore Savings Bond November 2026: 2.45% Average, But T-Bills Just Overtook Year One" description: The November 2026 Singapore Savings Bond pays 2.45% on average over 10 years, but the 6-month T-bill now beats its first-year rate. Here is how to choose. image: https://www.thefinancialcoconut.com/hubfs/financial-bonds-concept-with-currency-on-blue-back-2026-09-23-21-11-14-utc-jpg-1.jpeg --- [Skip to content](https://www.thefinancialcoconut.com/blog/singapore-savings-bond-november-2026#main-content) [![Full\_COlour](https://www.thefinancialcoconut.com/hs-fs/hubfs/Full_COlour.png?width=456&height=80&name=Full_COlour.png)](https://www.thefinancialcoconut.com/) - [Retirement Marketspace](https://retirementmarketspace.thefinancialcoconut.com/) - [Events](https://www.thefinancialcoconut.com/events) Show submenu for Events - [For Investors](https://tfcmysterymeetup.com/) - [For Business Owners & Creators](https://ipcreatorunite.peatix.com/) - [For Salaried Workers](https://www.thefinancialcoconut.com/thought-leadership-series) - [TFC Events](https://www.thefinancialcoconut.com/events) - [Shows](https://www.thefinancialcoconut.com/tfc-shows) Show submenu for Shows - [Wise and Shine](https://www.thefinancialcoconut.com/wise-and-shine) - [The Business Show](https://www.thefinancialcoconut.com/tfc-business-show) - [Chills with TFC](https://www.thefinancialcoconut.com/chills-with-tfc) - [Blog](https://www.thefinancialcoconut.com/blog) Show submenu for Blog - [Work Smart](https://www.thefinancialcoconut.com/worksmart) - [Invest](https://www.thefinancialcoconut.com/invest) - [Retire Well](https://www.thefinancialcoconut.com/retire-well) - [Business](https://www.thefinancialcoconut.com/business) Open main navigation Close main navigation - [Retirement Marketspace](https://retirementmarketspace.thefinancialcoconut.com/) - [Events](https://www.thefinancialcoconut.com/events) Show submenu for Events - [For Investors](https://tfcmysterymeetup.com/) - [For Business Owners & Creators](https://ipcreatorunite.peatix.com/) - [For Salaried Workers](https://www.thefinancialcoconut.com/thought-leadership-series) - [TFC Events](https://www.thefinancialcoconut.com/events) - [Shows](https://www.thefinancialcoconut.com/tfc-shows) Show submenu for Shows - [Wise and Shine](https://www.thefinancialcoconut.com/wise-and-shine) - [The Business Show](https://www.thefinancialcoconut.com/tfc-business-show) - [Chills with TFC](https://www.thefinancialcoconut.com/chills-with-tfc) - [Blog](https://www.thefinancialcoconut.com/blog) Show submenu for Blog - [Work Smart](https://www.thefinancialcoconut.com/worksmart) - [Invest](https://www.thefinancialcoconut.com/invest) - [Retire Well](https://www.thefinancialcoconut.com/retire-well) - [Business](https://www.thefinancialcoconut.com/business) - [Contact us](https://www.thefinancialcoconut.com/contact-us) [Contact us](https://www.thefinancialcoconut.com/contact-us) Oct 6, 2026, 3:25:00 PM # Singapore Savings Bond November 2026: 2.45% Average, But T-Bills Just Overtook Year One ![Picture of The Financial Coconut](https://www.thefinancialcoconut.com/hs-fs/hubfs/Square%20(2)-3.png?width=50&name=Square%20(2)-3.png) [The Financial Coconut](https://www.thefinancialcoconut.com/blog/author/the-financial-coconut) Share: [facebook-f icon](http://www.facebook.com/share.php?u=https://www.thefinancialcoconut.com/blog/singapore-savings-bond-november-2026) [linkedin-in icon](http://www.linkedin.com/shareArticle?mini=true&url=https://www.thefinancialcoconut.com/blog/singapore-savings-bond-november-2026) [envelope icon](mailto:?body=https://www.thefinancialcoconut.com/blog/singapore-savings-bond-november-2026) [Share this page](https://twitter.com/intent/tweet?url=https://www.thefinancialcoconut.com/blog/singapore-savings-bond-november-2026) [![Follow The Financial Coconut](https://no-cache.hubspot.com/cta/default/46975693/interactive-182431637553.png)](https://cta-service-cms2.hubspot.com/web-interactives/public/v1/track/redirect?encryptedPayload=AVxigLL2CjCe42iR2RH2MpVX0Ej%2BKJQ%2F3A0Z7pXnUs35To%2Bo6nbKcpBVq9I98X5NUungVEwfs5YCKuM%2FaP97VxIITkTlihT57%2F%2F4XDW9rT3VR4MatSLDi%2BMU5mbQqihfX3LRRz83ij8K19OiD8UXy8sdct4t0Q%3D%3D&webInteractiveContentId=182431637553&portalId=46975693)   **TL;DR** - The November 2026 Singapore Savings Bond (SBNOV26) pays 1.67% in year one and 2.45% a year on average over ten years. - The latest 6-month T-bill cleared at 1.92%, well above SSB's first-year rate. Last month it was the other way round. - SSB's ten-year average still sits just under the CPF Ordinary Account's 2.5%. - Applications close at 9pm on 27 October 2026. ![](https://www.thefinancialcoconut.com/hs-fs/hubfs/financial-bonds-concept-with-currency-on-blue-back-2026-09-23-21-11-14-utc-jpg-1.jpeg?width=3890&height=2592&name=financial-bonds-concept-with-currency-on-blue-back-2026-09-23-21-11-14-utc-jpg-1.jpeg) The Singapore Savings Bond for November 2026 (SBNOV26) pays 1.67% in its first year and an average of 2.45% a year if held for the full ten years, up from October's 1.65% and 2.32%. Applications close at 9pm on 27 October 2026. The catch: the 6-month T-bill now pays more for short-term cash. ## What are the Singapore Savings Bond November 2026 rates? Here is what is on offer in this tranche: - **Year 1 interest:** 1.67% per annum - **Year 10 interest:** 3.08% per annum - **10-year average return:** 2.45% per annum - **Amount offered:** S$400 million - **Applications close:** 27 October 2026, 9pm - **Allotment results:** 28 October 2026 - **Issue date:** 2 November 2026, maturing 1 November 2036 Interest is paid every six months, with the first payment on 1 May 2027. The ten-year average has now climbed for three tranches in a row: 2.25% in September, 2.32% in October and 2.45% in November. If you skipped last month's bond because the rate felt underwhelming, this one is a noticeably better deal for long-term holders. ![](https://www.thefinancialcoconut.com/hs-fs/hubfs/singapore-currency-2026-09-23-00-29-05-utc-jpg-2.jpeg?width=5184&height=1744&name=singapore-currency-2026-09-23-00-29-05-utc-jpg-2.jpeg) ## Why does the T-bill now pay more than SSB's first year? A month ago, October's SSB first-year rate of 1.65% sat slightly above the 6-month T-bill at 1.6%, a gap we touched on when [comparing CPF, T-bills and Savings Bonds](https://www.thefinancialcoconut.com/blog/why-your-cpf-now-pays-more-than-t-bills-and-savings-bonds-in-2026). That has flipped. The most recent 6-month T-bill (BS26119F, issued 29 September 2026) cleared at a cut-off yield of 1.92%, according to MAS. That is up from 1.70% at the 10 September auction, and a full 0.25 percentage points above SBNOV26's first-year rate. The trigger was the US Federal Reserve's rate increase on 16 September, which pushed short-term yields up quickly. We covered the wider fallout in [what the Fed's first hike since 2023 means for your money in Singapore](https://www.thefinancialcoconut.com/blog/the-fed-just-hiked-rates-for-the-first-time-since-2023). T-bills react to that kind of news within weeks because they are auctioned fortnightly. SSB rates are set once a month, based on average Singapore Government Securities yields from the month before, so they move more slowly. The first-year rate barely budged, whilst the later years rose more. ## Should you buy the November SSB or a T-bill? It depends on when you need the money back. **Under a year:** The T-bill currently pays more. The trade-off is that you are locked in until maturity unless you sell on the secondary market, and the next auction's yield is not guaranteed to match the last one. **Not sure when you will need it:** SSB is the more forgiving choice. You can redeem in any month with no penalty, and you get your principal back plus accrued interest. **Several years or more:** SSB's step-up structure does the heavy lifting. Rates rise each year to 3.08% in year ten, which no 6-month instrument can lock in for you. One more comparison worth making. At 2.45%, the ten-year average still falls short of the 2.5% your CPF Ordinary Account earns, and well short of the 4% floor on Special, MediSave and Retirement Accounts, which [the Government has extended to the end of 2027](https://www.thefinancialcoconut.com/blog/cpf-interest-rate-floor-extended-2027). SSB is for cash you want to keep accessible, not a replacement for CPF. ![](https://www.thefinancialcoconut.com/hs-fs/hubfs/man-filling-out-an-application-form-online-2026-09-25-08-12-03-utc-jpg.jpeg?width=7360&height=4912&name=man-filling-out-an-application-form-online-2026-09-25-08-12-03-utc-jpg.jpeg) ## How do you apply for SBNOV26? You need a bank account with DBS/POSB, OCBC or UOB and an individual CDP Securities account. Apply through your bank's ATM or internet banking with a minimum of S$500, in multiples of S$500. Each application costs a S$2 transaction fee, and you can hold up to S$200,000 of Savings Bonds in total. Supplementary Retirement Scheme funds can also be used through your SRS operator. ## In summary November's Savings Bond is a clear step up for long-term holders, but its 1.67% first-year rate is no longer the top option for short-term cash. Match the instrument to your timeline rather than to the headline number. For more breakdowns like this, follow The Financial Coconut Podcast and join the community at [linkin.bio/thefinancialcoconut](https://linkin.bio/thefinancialcoconut). - [TFC: The Fed just hiked rates](https://www.thefinancialcoconut.com/blog/the-fed-just-hiked-rates-for-the-first-time-since-2023) - [TFC: CPF 4% floor extended to 2027](https://www.thefinancialcoconut.com/blog/cpf-interest-rate-floor-extended-2027) - [TFC: Why your CPF now pays more than T-bills and Savings Bonds](https://www.thefinancialcoconut.com/blog/why-your-cpf-now-pays-more-than-t-bills-and-savings-bonds-in-2026) ## FAQ 1. **What is the interest rate for the November 2026 Singapore Savings Bond?** SBNOV26 pays 1.67% per annum in year one, stepping up to 3.08% in year ten, for an average return of 2.45% per annum over ten years. 2. **When is the closing date for the November 2026 SSB?** Applications close at 9pm on 27 October 2026. Allotment results are released on 28 October and the bond is issued on 2 November 2026. 3. **Is the November SSB better than T-bills?** Not for short-term cash. The latest 6-month T-bill yields 1.92%, above SSB's 1.67% first-year rate. SSB is stronger for longer holding periods and for flexibility, because it can be redeemed in any month without penalty. 4. **Is SSB better than leaving money in my CPF OA?** On rate alone, no. The CPF Ordinary Account pays 2.5% per annum, slightly above SBNOV26's 2.45% ten-year average. SSB's advantage is that the cash stays accessible. #### References - Monetary Authority of Singapore, [What is the cut-off yield of the latest T-bill?](https://ask.gov.sg/mas/questions/clx8ktirr005tryoz2yzyrvl6) - Monetary Authority of Singapore, [Singapore Savings Bonds](https://www.mas.gov.sg/bonds-and-bills/singapore-savings-bonds) Let us know what you think about this topic, and what do you want to hear next. You can now be our community contributor and make a [pitch](https://thefinancialcoconut.com/contact/)to have your favourite personality be on our show. Join our [community group](https://linkin.bio/thefinancialcoconut/?fbclid=PAZXh0bgNhZW0CMTEAAaY2-JSYItZawSUnNP4YhAicLp0H2wXwx8EBmQgbzOJrjA6YRiPWXtFDSH4_aem_t1DMRY5jrSAapreaSX9ntw) and drop us your insights on this topic.   ### Stay ahead in your financial journey! 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