November SSB issuance saw the average per annum interest rate raised by 0.04% from the previous month. On top of being the 2nd highest issuance this year, at 2.57% this is competitive with the current CPF interest rate of 2.5%.
Despite this issuance being only the 2nd highest for the year. What is interesting, is that the near term (Yr 1 – Yr 5) rates are increasing at an increasing clip. This provides a good alternative to leaving money in the bank.
Since repaying part of the home loan in Mar and Aug, my hurdle rate for CPF-OA has since fallen to 2.5%. As such, I have decided to take a small slice of this issuance as part of the wedding savings plan.
Mth | Yr 1 | Yr 2 | Yr 3 | Yr 4 | Yr 5 | Yr 6 | Yr 7 | Yr 8 | Yr 9 | Yr 10 | Average |
Jan | 1.32% | 1.58% | 1.71% | 1.82% | 1.99% | 2.22% | 2.43% | 2.65% | 2.86% | 3.06% | 2.13% |
Feb | 1.55% | 1.59% | 1.67% | 1.77% | 1.91% | 2.07% | 2.26% | 2.44% | 2.61% | 2.75% | 2.04% |
Mar | 1.42% | 1.55% | 1.73% | 1.92% | 2.08% | 2.23% | 2.38% | 2.53% | 2.69% | 2.87% | 2.11% |
Apr | 1.42% | 1.77% | 2.02% | 2.25% | 2.41% | 2.51% | 2.59% | 2.67% | 2.79% | 2.97% | 2.31% |
May | 1.65% | 1.95% | 2.14% | 2.28% | 2.42% | 2.54% | 2.62% | 2.72% | 2.84% | 3.00% | 2.39% |
Jun | 1.68% | 2.14% | 2.21% | 2.21% | 2.30% | 2.52% | 2.67% | 2.81% | 2.96% | 3.12% | 2.43% |
Jul | 1.72% | 2.19% | 2.35% | 2.42% | 2.56% | 2.77% | 2.91% | 3.06% | 3.22% | 3.41% | 2.63% |
Aug | 1.78% | 2.16% | 2.37% | 2.54% | 2.67% | 2.76% | 2.81% | 2.86% | 2.95% | 3.11% | 2.57% |
Sep | 1.75% | 2.02% | 2.22% | 2.39% | 2.52% | 2.60% | 2.66% | 2.73% | 2.82% | 2.97% | 2.44% |
Oct | 1.74% | 2.08% | 2.22% | 2.31% | 2.42% | 2.55% | 2.63% | 2.72% | 2.83% | 2.97% | 2.42% |
Nov | 1.80% | 2.09% | 2.27% | 2.42% | 2.54% | 2.63% | 2.69% | 2.75% | 2.84% | 2.98% | 2.48% |
Dec | 1.89% | 2.19% | 2.38% | 2.54% | 2.66% | 2.73% | 2.77% | 2.82% | 2.90% | 3.04% | 2.57% |
SSB highest interest rates in Jul (2.63%), followed by Aug & Dec (2.57%)