Tell us your time horizon and we'll highlight the best fit based on live rates.
The latest 6-month T-Bill cut-off yield was 1.95% (22 Oct 2026 auction) and the latest 1-year was 1.92% (15 Oct 2026 auction). Both are below the CPF Ordinary Account's guaranteed 2.5% p.a., so CPF OA currently earns more on eligible funds. T-Bills remain an option for cash held outside CPF.
Next auction: 04 Nov 2026 (6-month).
| Bank | 3M | 6M | 9M | 12M | Min. | |
|---|---|---|---|---|---|---|
| HL Bank | 1.40% | 2.05% | 1.60% | 2.05% | S$10,000 | Verify → |
| Bank of China | 1.60% | 2.00% | 1.85% | 1.90% | S$500 | Verify → |
| Citibank | 1.40% | 2.00% | 1.70% | 0.70% | S$5 | Verify → |
| Maybank | — | 1.85% | 1.82% | 1.91% | S$20,000 | Verify → |
| RHB | 1.50% | 1.80% | — | 1.90% | S$20,000 | Verify → |
| HSBC | 1.40% | 1.80% | 1.20% | 1.30% | S$30,000 | Verify → |
| Singapura Finance | 1.50% | 1.75% | 1.45% | 2.08% | S$10,000 | Verify → |
| CIMB | 1.35% | 1.75% | 1.75% | 1.95% | S$10,000 | Verify → |
| ICBC | 1.30% | 1.75% | 1.75% | 1.75% | S$20 | Verify → |
| GXS | 1.22% | 1.70% | — | 1.75% | S$100 | Verify → |
| Standard Chartered | — | 1.70% | 1.30% | 1.70% | S$25,000 | Verify → |
| UOB | — | 1.60% | — | 1.70% | S$10,000 | Verify → |
| Hong Leong Finance | 1.10% | 1.50% | 1.60% | 1.70% | S$100 | Verify → |
| OCBC | 1.28% | 1.50% | — | 1.65% | S$100 | Verify → |
| DBS | — | 0.80% | 1.00% | — | S$1,000 | Verify → |
Singapore Government Securities — longer tenors, higher rates, min S$1,000.
SG Safe Investments helps you compare current rates for Singapore's safest places to park your money — Treasury Bills (T-Bills), Singapore Savings Bonds (SSB), Fixed Deposits, and CPF — all in one place.
See the latest rates side by side, understand how each option works, and figure out which is the best fit for your savings goals and time horizon. No need to check multiple bank and government websites separately.
Anyone in Singapore comparing safe, low-risk options for their savings — whether you're deciding between a T-Bill and a Fixed Deposit, or just want to see all your options in one place before committing your money.
Rates are sourced from the Monetary Authority of Singapore (MAS) — covering T-Bills, Singapore Savings Bonds (SSB), and benchmark interest rates — plus publicly available bank Fixed Deposit rates, updated regularly.
Yes. SG Safe Investments is completely free to use, with no signup or login required.
Singapore offers several government-backed options for parking your savings safely — each with different trade-offs on returns, liquidity, and lock-in periods. Here's what you need to know before choosing.
Treasury Bills (T-Bills) are short-term government securities issued by the Singapore Government through the Monetary Authority of Singapore (MAS). They come in 6-month and 1-year tenors and are sold at a discount to face value — meaning you receive your returns upfront at purchase, not at maturity. T-Bills are considered one of the safest investments available, backed by the full faith and credit of the Singapore Government.
Singapore Savings Bonds (SSB) are long-term bonds issued monthly by the MAS, designed specifically for retail investors. They offer step-up interest rates — meaning the longer you hold, the higher your average return. Unlike T-Bills, SSBs can be redeemed early (with no penalty) at the end of any month, making them highly flexible. The monthly application limit is S$200,000 per person, with a lifetime cap of S$200,000.
Fixed Deposits (FDs) are time deposits offered by banks. They typically offer competitive rates for lock-in periods ranging from 1 month to 24 months. Unlike T-Bills and SSBs, FDs are not government-issued — they are protected under the Singapore Deposit Insurance Scheme (SDIS) up to S$100,000 per depositor per bank.
CPF (Central Provident Fund) accounts earn guaranteed interest rates set by the government: 2.5% per annum on Ordinary Account (OA) funds and 4% per annum on Special and MediSave Account funds. CPF funds cannot be freely withdrawn (subject to withdrawal rules), but the guaranteed rates make CPF a strong benchmark for comparing other safe options. Whenever T-Bill cut-off yields are below CPF OA's 2.5%, CPF OA earns more for those with eligible funds, and T-Bills and Fixed Deposits are the main options for cash held outside CPF. The CPF OA vs T-Bills box above shows how the latest auction compares.
The right choice depends on three factors: how long you can lock in your money, how much you're investing, and whether you need flexibility.
If you need liquidity (may need money back anytime): SSBs are the most flexible — redeem any month with no penalty. Fixed deposits typically have a break-clause penalty. T-Bills lock your money until maturity (6 months or 1 year) with no early redemption.
If you're chasing the best rate: Compare the current T-Bill cut-off yield against SSB first-year rates and the best Fixed Deposit rates in the market. Rates change every auction/month, so check before committing.
If you're investing a large sum: T-Bills are allotted by competitive/non-competitive bid — large non-competitive bids may not be fully allotted if demand is high. SSBs have a S$200,000 lifetime cap. Fixed Deposits have no cap but SDIS protection is limited to S$100,000 per bank.
If you want zero hassle: CPF OA funds earn 2.5% automatically with no action required. For idle cash outside CPF, SSBs offer the closest equivalent — apply once, earn returns automatically, redeem when needed.
It depends on the current T-Bill cut-off yield versus available Fixed Deposit rates. T-Bills are government-backed (slightly safer than bank FDs) and exempt from income tax, but require a CDP account and involve an auction process. Fixed Deposits are simpler to set up but vary widely by bank and tenor. Use this tool to compare current rates side by side.
The minimum investment for Singapore T-Bills is S$1,000, in multiples of S$1,000.
Yes — you can use CPF Ordinary Account (OA) funds to apply for T-Bills and SSBs, subject to CPF Investment Scheme (CPFIS) rules. However, OA funds earn a guaranteed 2.5% p.a., so it only makes sense to invest if the T-Bill or SSB yield exceeds 2.5%. When both are below 2.5%, your funds earn more staying in the OA. The CPF OA vs T-Bills box above compares the latest T-Bill auction with CPF OA.
T-Bill returns (the discount at purchase) are exempt from income tax for Singapore residents. SSB interest is also tax-exempt. Fixed Deposit interest is taxable for residents, though Singapore's personal income tax rates are low and interest income from deposits is generally not taxed below certain thresholds.
Your deposit is protected under the Singapore Deposit Insurance Scheme (SDIS), administered by the Singapore Deposit Insurance Corporation (SDIC), up to S$100,000 per depositor per Scheme member bank. T-Bills and SSBs carry no such risk as they are direct Singapore Government obligations.
6-month T-Bill auctions are held approximately every two weeks. 1-year T-Bill auctions are held less frequently. Auction schedules are published by MAS in advance.
The cut-off yield is the lowest yield accepted in a T-Bill auction — it's the yield you receive if you apply via non-competitive bid. Competitive bidders who bid above the cut-off yield receive no allotment. Non-competitive bidders always receive allotment at the cut-off yield, subject to a 40% allotment cap per auction.