Today is the day MAS releases the result of the SSB allotment for May 2018 SSB.
MAS has raised the issuance size from S$150 million to S$200 million earlier this month, in response to the higher demand for SSB.
The first time SSB is oversubscribed is during the 1.55% January 2018 SSB issue, which it was briefly oversubscribed by S$22 million. This was the best interest offered by SSB till this month's tranche.
The second time happened last month when it was oversubscribed by S$111 million, which is when MAS decided to increase the issuance size to S$200 million.
Now, today, for May 2018's SSB issue, it is oversubscribed by S$321 million or 160%!!
Take a look!
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| Source: SSB |
Indeed, I felt that the interest rates offered by May's tranche are really attractive at 1.65% for the first year and 2.39% average return per year if you plan to hold it for the full 10 years.
For applicants that applied for SGD 13,000 or lower, congratulations. You're fully allotted.
Those who applied for more than SGD 13,500 were allotted either SGD 13,000 or 13,500 randomly.
Meaning to say, the most one can get from this tranche is SGD 13,500. For those who applied for more than SGD 13,500, you may wish to take a look at your bank account to check for the refunds posted.
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| Source: SSB - May 2018 Issue Interest Rate |
Similar to January's issue, I've gotten myself $500 worth of SSB for May 2018's tranche using the funds in my opportunity funds.
Regular readers would remember what my 'opportunity funds' here is for.
To those newer readers, here's a small recap of my post back in December 2017:
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| The 19-Year-Old Year Review, Reflection & 2018 Resolution |
As my 'additional war chest' that I've included in my portfolio updates only has $850.00, I've decided to only subscribe for $500, leaving $350 in that account.
It would be really strange, why did I not top up another $150 to make it a thousand instead, as such 'guaranteed' high rates do not come by so frequently in SSB!
Silly me!
$500 in May 2018's SSB will mean that I will be receiving $4.12 in November and another $4.12 in May 2019.
This will also mean that I'm getting 2 free Fillet-O-Fish burger every half a year! Ala-carte burger only. No meal this time round!
On a side note, I'm really glad that I finally manage to convince my mother into applying for some SSB this month, instead of the 0.05% interest POSB account that she is holding onto.
As an extremely risk adverse person, probably it's time that her money will start working a little harder for her.
I will continue to look out for the upcoming SSB for further opportunities to park my opportunity funds. Remember. Opportunity funds!
Read: Singapore Saving Bonds (SSB) - 1.65% (May 2018)
Link to MAS's announcement can be found here.
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