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Singapore T-Bill Rates — October 2026

The latest 6-month Singapore T-bill (BS26120W) cut off at 1.90% per year, auctioned 8 Oct 2026. The latest 1-year T-bill cut off at 1.92%. Rates, next auction and yield history below — from MAS, updated every auction.

Next auction · 22 Oct 2026 · 6-month T-bill · issues 27 Oct 2026
6-month cut-off yield
1.90%
BS26120W · auctioned 8 Oct 2026
1-year cut-off yield
1.92%
BY26103X · auctioned 15 Oct 2026
Next auction
22 Oct
6-month · issues 27 Oct 2026
Min S$1,000 Cash · SRS · CPF-OA/SA 6-month or 1-year SG-Government backed Returns tax-free

Apply via DBS/POSB, OCBC or UOB (internet banking / ATM), or with SRS or CPF funds, during the auction window. Applications generally close about a day before the auction (earlier for CPF) — check your bank's cut-off. Rates are set at auction, so they're the same wherever you apply.

A Treasury Bill (T-bill) is a short-term Singapore Government security — as safe as a Savings Bond, but it works differently. You buy it at a discount and are repaid the full face value at maturity; the difference is your return, quoted above as the annualised cut-off yield. MAS auctions the 6-month T-bill roughly every two weeks and the 1-year about once a quarter.
Recent 6-month T-bill auctions
Auction dateCut-off yieldvs prevBid-to-cover
8 Oct 20261.90%▼ 0.022.14×
24 Sep 20261.92%▲ 0.221.88×
10 Sep 20261.70%▲ 0.101.97×
27 Aug 20261.60%▲ 0.041.93×
13 Aug 20261.56%▼ 0.032.13×
30 Jul 20261.59%▲ 0.042.11×
16 Jul 20261.55%▲ 0.051.82×
2 Jul 20261.50%▲ 0.032.00×
18 Jun 20261.47%▼ 0.012.36×
4 Jun 20261.48%▲ 0.031.66×
21 May 20261.45%▲ 0.052.12×
7 May 20261.40%—2.05×

Bid-to-cover = total bids ÷ amount offered; higher means stronger demand. A higher-demand auction often pushes the cut-off yield down. Source: MAS.

6-month yield trend
2.0% 1.4% Apr 2026 Oct 2026

Cut-off yield at each 6-month auction, 1.47% → 1.90% (rising). Source: MAS.

T-bill or Savings Bond? T-bills lock in a fixed rate for 6–12 months and can be bought with CPF; SSBs are flexible — redeem any month with no penalty — and step up the longer you hold. Read the full SSB vs T-bills comparison, or check the latest Singapore Savings Bond rates.
Common questions
+What is the latest Singapore T-bill rate?
The most recent 6-month T-bill (BS26120W, auctioned 8 Oct 2026) had a cut-off yield of 1.90% per year. The latest 1-year T-bill (BY26103X, 15 Oct 2026) came in at 1.92%. The cut-off yield is the effective annualised return you earn if allotted.
+How do Singapore T-bills work?
A T-bill is a short-term Singapore Government security. You buy it at a discount to its face value and are repaid the full face value at maturity — the difference is your return. There are two tenors: 6-month and 1-year. They are as low-risk as it gets, being fully backed by the AAA-rated Singapore Government.
+How do I buy T-bills in Singapore?
Apply through DBS/POSB, OCBC or UOB (internet banking or ATM) during the auction window, using cash, SRS, or CPF-OA/CPF-SA funds. The minimum is S$1,000, in multiples of S$1,000. Most retail investors submit a "non-competitive" bid and are allotted at the cut-off yield.
+Can I buy T-bills with CPF?
Yes. T-bills can be bought with CPF Ordinary Account (CPF-OA) and CPF Special Account (CPF-SA) funds, as well as cash and SRS. This makes them a popular way to earn a fixed return on idle CPF-OA savings — though you should weigh it against the CPF-OA interest you give up.
+Are T-bills or Singapore Savings Bonds better?
It depends on your needs. T-bills lock in a fixed rate for 6 or 12 months and can be bought with CPF; SSBs are flexible — redeemable any month with no penalty — and step up the longer you hold. See our full SSB vs T-bills comparison for the details.