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SBMAY23 GX23050W SSB is out! Above 3% but less than last month. What’s the plan?

Posted on by careyourpresent

The most anticipated Singapore Saving Bonds rate is out for next month. The rate is 3.03% (year 1) and reaches for the 3.21% (year 10). The average is 3.07%. Would you buy or bye this month? Let’s analyse more.

SBMAY23 GX23050W

Compare to Last Month

Let’s compare to last month. As per what I what posted earlier, the rate is indeed lower by a little bit. It’s still great as 3% for longer term emergency funds but not attractive as short term funds because Fixed Deposit, Treasury Bills, Money Market Funds offer close to 4% now.

If we look at the yield, it give 3.15% (above 3% is not bad for longer term of 10 years) which is quite good as compared to the recent 3.65% of treasury bill and the lowering fixed deposit rates. Next month SSB should be slightly lower but yet not much people applied for this round. If people believe in Fed pivot and the interest rate to come down, why not much people apply?

SBAPR23 GX23040S

But the good thing about Singapore Saving Bonds is that you can locked 3%+ rate for 10 years while you can redeem anytime within 1 month without any penalty. See my previous posts on Singapore Saving Bonds.

SBAPR23 GX23040S – Singapore Saving Bonds (SSB) above 3% again. Buy or Bye?

Singapore Saving Bonds – SBAPR23 GX23040S – results out! Almost all get what they want!

Update on my recent Trade under rising interest rate conditions!

Application Details for this month SBMAY23 GX23050W

Application deadline is 25 Apr 2023, 9pm with $700.0 million. Next payment will be 01 Nov 2023 with subsequent payment on every 6th Month on 01 May and 01 Nov.

Given that last month almost everyone get what they want, 69k and the interest rate is slightly lower for this month as compared to last month, most likely the demand will be low too. What you apply in this month, likely you will get everything! If you think interest rate will goes down soon, it is always good to lock in the 10 years rate, you can redeem anytime anyway.

What’s my plan for this month SSB? SBMAY23 GX23050W

Let’s us recap the advantages of SSB first:

  • Very safe – backed by Singapore Government
  • Locked down decent rates of around 3% for 10 years.
  • Easy to redeem and can redeem partial
  • Liquidity needs maximum of 1 month where you can get your money back. Hence suitable as emergency fund.
  • Limit of 200k should be good enough for most people.
  • Can build Bond Ladder to get monthly income (which I already did)

Let’s us recap the disadvantages of SSB:

  • Short term rates are lower than banks’ fixed deposits, money market funds such as MoneyOwl,etc of around 3.5% and above.
  • Low returns
  • 1 month liquidity to redeem your funds may be too long for people who need the funds immediately.

I have applied and got what I wanted last month. SSB is my emergency funds/last resort warchest.

Although I have not yet reach 200k but may not want to apply more since this month rate is slightly lower. However, let’s see how it goes this month. Hopefully I can deploy my warchest from my Fixed Deposit and Money Market Funds. If I manage to use all these funds, then I won’t apply SSB, otherwise I may apply more SSB.

Anyway, let me screenshot my SSB portal. Risk free money, not bad isn’t it? I will get around 300 each per month for the next 10 years risk free!

Good articles that you should read!

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CAREYOURPRESENT

Money just buy you the chance of freedom.

When you are young and working, you exchange time for money. When you are old, you can have lots of money but you can’t buy time back, especially the things that you have missed while busying striking out in career. Of course, if you love your career, and consciously know that you are missing out the first time your child walk or talk, that’s ok, but if you are the other spectrum, please do something about it.

Your kids grew up and they no longer need you to accompany them. They no longer want to sit on your lap to share/do things with you…all these time you spent in your 9 to 6 or even longer cubicles…can the money that you have earned by you back these?

We always thought we have more time with our old parents, but we are wrong. Time with them is ticking away every day. One day it will suddenly be gone. There is no regret medicine, no reset in time. Gone is gone and cannot come back. No matter you are billionaires or millionaires, you cannot reset this.

We always thought that we have more time with our spouse every day, but we are wrong. One day they will be gone too. When you read this, please go tell your spouse that you love him/her and he or she is the best thing that you ever had in your life.

I have picked out some of the more life reflecting articles of the CAREYOURPRESENT series. Do read them:

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REMEMBER:

Love your life daily.

You have one less day with your spouse, parents, children and yourself.

Time is ticking away.

For each passing day,

Enjoy and Treasure your Life!

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