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Singapore T-Bill Rates — July 2026

The latest 6-month Singapore T-bill (BS26114W) cut off at 1.55% per year, auctioned 16 Jul 2026. The latest 1-year T-bill cut off at 1.68%. Rates, next auction and yield history below — from MAS, updated every auction.

Next auction · 23 Jul 2026 · 1-year T-bill · issues 28 Jul 2026
6-month cut-off yield
1.55%
BS26114W · auctioned 16 Jul 2026
1-year cut-off yield
1.68%
BY26102T · auctioned 23 Jul 2026
Next auction
23 Jul
1-year · issues 28 Jul 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 yieldBid-to-cover
16 Jul 20261.55%1.82×
2 Jul 20261.50%2.00×
18 Jun 20261.47%2.36×
4 Jun 20261.48%1.66×
21 May 20261.45%2.12×
7 May 20261.40%2.05×
23 Apr 20261.40%2.29×
9 Apr 20261.47%1.74×
26 Mar 20261.46%2.00×
12 Mar 20261.37%2.08×
26 Feb 20261.36%2.14×
12 Feb 20261.36%2.02×

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 T-bill yield trend
1.6% 1.3% Jan 2026 Jul 2026

Cut-off yield at each 6-month T-bill auction — the annualised return the last successful bidder locked in. 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 (BS26114W, auctioned 16 Jul 2026) had a cut-off yield of 1.55% per year. The latest 1-year T-bill (BY26102T, 23 Jul 2026) came in at 1.68%. 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.