Track Singapore Treasury Bill auction results, calculate your yield, and understand how T-Bills work — all in one simple tool.
Estimate only. Actual yield determined at auction.
What are T-Bills?
Treasury Bills (T-Bills) are short-term Singapore Government Securities with tenors of 6 months or 1 year. They are sold at a discount and redeemed at face value — the difference is your interest.
Issued and guaranteed by the Singapore Government — among the safest investments available.
6-month and 1-year options mean your money isn't locked up long. Auctions are held regularly.
Accessible to retail investors via DBS/POSB, OCBC, UOB internet banking or ATM using CPF or cash.
SG T-Bill Buddy tracks Singapore Treasury Bill auction results and helps you calculate your potential returns before you invest — no spreadsheets or guesswork needed.
The tool shows the latest T-Bill auction yields, upcoming auction dates, and lets you compare returns against other safe options like Singapore Savings Bonds (SSB), Fixed Deposits, and CPF. Simply check the latest rates or use the calculator to see exactly how much you'd earn on a given investment amount.
Anyone in Singapore looking to park their savings somewhere safe and short-term — whether you're new to T-Bills or a regular investor who wants a quick way to check the latest rates without digging through MAS auction announcements.
T-Bill auction results are based on publicly available MAS auction data and updated regularly. Always verify the latest figures on the official MAS website before investing.
Yes. SG T-Bill Buddy is completely free to use, with no signup or login required.
Singapore Treasury Bills (T-Bills) are issued by the Singapore Government through the Monetary Authority of Singapore (MAS). Understanding the auction process helps you make better decisions about when and how to apply.
The auction process: MAS holds auctions every two weeks for 6-month T-Bills and periodically for 1-year T-Bills. Investors submit bids through banks, brokers, or the CPF Investment Scheme (CPFIS). There are two types of bids: competitive (you specify a yield) and non-competitive (you accept whatever yield the auction produces).
Non-competitive bidding: Most retail investors use non-competitive bids — you apply for a fixed amount and accept the cut-off yield. This guarantees allotment (subject to the 40% per-auction cap for non-competitive bids) without the complexity of yield forecasting. This is the approach recommended for most individuals.
Competitive bidding: Institutional and sophisticated investors bid at specific yields. Bids at or below the cut-off yield receive full allotment; bids above the cut-off yield receive nothing. The cut-off yield is set where total demand meets total supply.
Settlement and returns: T-Bills are issued at a discount — you pay less than face value upfront and receive the full face value at maturity. The difference is your return. For example, a S$10,000 T-Bill at a 1.5% annualised yield (6-month) would cost approximately S$9,925 at issuance and return S$10,000 at maturity.
T-Bill yields in Singapore are primarily influenced by:
MAS monetary policy: MAS manages Singapore's monetary policy through the exchange rate (not interest rates directly), but global interest rate movements affect Singapore T-Bill yields through capital flows.
US Federal Reserve policy: Singapore T-Bill yields closely track US short-term interest rates due to Singapore's open capital account. When the Fed raises rates, Singapore T-Bill yields typically follow.
Demand at each auction: High demand (oversubscription) pushes yields down; lower demand pushes yields up. Institutional demand in particular can significantly affect cut-off yields.
CPF OA rate: The CPF Ordinary Account rate (2.5% p.a.) acts as a soft floor — when T-Bill yields fall below 2.5%, demand from CPF investors drops significantly. At current yields (July 2026, ~1.5%), T-Bills sit below the CPF OA rate.
At current rates (July 2026), the CPF Ordinary Account's guaranteed 2.5% per annum exceeds the latest T-Bill cut-off yield of 1.5%. If you have CPF OA funds available, leaving them in CPF currently earns more than investing in T-Bills. T-Bills remain attractive for cash outside CPF, and for investors who cannot use CPF for a specific reason.
You can apply through internet banking (DBS/POSB, OCBC, UOB), ATM, or through your CPF Investment Scheme (CPFIS) account if using CPF funds. Applications open approximately one week before the auction date and close the day before. You need a Central Depository (CDP) account linked to your bank account.
The minimum investment is S$1,000, in multiples of S$1,000.
For non-competitive bids, your account is debited at the allotment price shortly after the auction. Your full face value is credited back at maturity (6 months or 1 year later). The difference is your return, received upfront as a discount on the purchase price.
Yes — Singapore Government Securities (SGS), including T-Bills, can be sold on the secondary market before maturity via your CDP account through participating brokers. However, the price you receive depends on prevailing market rates and may be above or below your purchase price.
You can wait for the next auction (every ~2 weeks for 6-month T-Bills) or consider Singapore Savings Bonds (SSBs) as an alternative — SSBs have a monthly application window and offer more flexibility with early redemption.
Yes — Singapore Government T-Bills are backed by the Singapore Government and are considered risk-free for credit purposes. The yield is fixed at the cut-off yield at the time of auction. Market price fluctuations only matter if you sell before maturity.
CPF Ordinary Account funds earn a guaranteed 2.5% p.a. At current T-Bill yields of around 1.5% (July 2026), using CPF OA for T-Bills does not make sense — your CPF funds already earn more sitting in the OA. Using CPF for T-Bills only makes sense when the cut-off yield meaningfully exceeds 2.5%. For CPF Special Account funds (earning 4% p.a.), it almost never makes sense to move funds to T-Bills given the higher guaranteed rate.
T-Bill returns are exempt from Singapore income tax for residents. This makes them particularly attractive compared to Fixed Deposits, where interest income is technically taxable (though in practice, most individuals fall below taxable thresholds).