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Savings · Singapore T-bills · verified 2026-09-07 against MAS data

Singapore T-bill rates — every 2026 auction, tracked

The 6-month T-bill cut off at 1.60% p.a. on 26 Aug 2026— 2026’s highest. The next auction is 9 Sept 2026 (BS26118E, S$8.4bn on offer) — cash applications via internet banking typically close 9pm the business day before. Every figure below is verified against MAS auction data; compare it with the audited September 2026 FD table (best clean 6-month 2.00%).

The 2026 cut-off trend

1.39%1.56%1.60%Jan26 Aug

All 6-month auctions, 2026

AuctionCodeCut-offMedianAverageAllottedBid-to-coverIssue date
26 Aug 2026BS26117A1.60%1.55%1.48%S$8.7bn1.93×31 Aug 2026
12 Aug 2026BS26116V1.56%1.52%1.47%S$8.7bn2.13×17 Aug 2026
29 Jul 2026BS26115N1.59%1.51%1.47%S$8.6bn2.11×3 Aug 2026
15 Jul 2026BS26114W1.55%1.49%1.44%S$8.8bn1.82×20 Jul 2026
1 Jul 2026BS26113X1.50%1.45%1.38%S$8.7bn2.00×6 Jul 2026
17 Jun 2026BS26112T1.47%1.43%1.32%S$8.2bn2.36×22 Jun 2026
3 Jun 2026BS26111H1.48%1.41%1.32%S$8.5bn1.66×8 Jun 2026
20 May 2026BS26110S1.45%1.38%1.32%S$8.5bn2.12×25 May 2026
6 May 2026BS26109N1.40%1.34%1.25%S$8.5bn2.05×11 May 2026
22 Apr 2026BS26108W1.40%1.37%1.30%S$8.4bn2.29×27 Apr 2026
8 Apr 2026BS26107X1.47%1.41%1.35%S$8.4bn1.74×13 Apr 2026
25 Mar 2026BS26106T1.46%1.39%1.30%S$8.2bn2.00×30 Mar 2026
11 Mar 2026BS26105H1.37%1.29%1.23%S$8.3bn2.08×16 Mar 2026
25 Feb 2026BS26104S1.36%1.32%1.25%S$8.2bn2.14×2 Mar 2026
11 Feb 2026BS26103Z1.36%1.31%1.23%S$8.2bn2.02×18 Feb 2026
28 Jan 2026BS26102F1.37%1.32%1.26%S$8.1bn2.03×2 Feb 2026
14 Jan 2026BS26101E1.39%1.35%1.19%S$7.9bn2.42×19 Jan 2026

Upcoming auctions

  • 9 Sept 2026 — BS26118E (6-month, S$8.4bn), issue 14 Sept 2026
  • 23 Sept 2026 — BS26119F (6-month), issue 28 Sept 2026
  • 7 Oct 2026 — BS26120W (6-month), issue 12 Oct 2026
  • 21 Oct 2026 — BS26121N (6-month), issue 26 Oct 2026
  • 3 Nov 2026 — BS26122V (6-month), issue 9 Nov 2026
  • 18 Nov 2026 — BS26123A (6-month), issue 23 Nov 2026
  • 2 Dec 2026 — BS26124E (6-month), issue 7 Dec 2026
  • 16 Dec 2026 — BS26125F (6-month), issue 21 Dec 2026
  • 14 Oct 2026 — BY26103X (1-YEAR), issue 19 Oct 2026

Amounts are announced by MAS about a week before each auction. Apply by ~9pm the business day before (banks vary; SRS/CPF earlier).

1-year T-bills, 2026

AuctionCodeCut-offAllottedBid-to-cover
22 Jul 2026BY26102T1.68%S$6.3bn2.12×
15 Apr 2026BY26101H1.46%S$6bn2.06×
21 Jan 2026BY26100S1.44%S$6.1bn1.99×

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Quick answers

What is the latest Singapore T-bill rate?The latest 6-month T-bill (BS26117A, auctioned 26 Aug 2026) cut off at 1.60% p.a. — 2026's highest so far. The cut-off yield is the single rate every successful bidder receives. The next auction is 9 Sept 2026 (BS26118E, S$8.4bn on offer).
How do I buy a Singapore T-bill?Apply through DBS/POSB, OCBC or UOB internet banking under Singapore Government Securities, minimum S$1,000 in multiples of S$1,000. Most retail investors submit a non-competitive bid (you accept the cut-off yield, whatever it is). Cash applications typically close 9pm one business day before the auction; SRS applications go through your SRS operator and CPF applications through your CPFIS bank, both with earlier cut-offs.
T-bill or fixed deposit — which pays more right now?The latest 6-month cut-off of 1.60% sits against a best clean 6-month fixed deposit of 2.00% in our September 2026 audit — though promotional FDs move monthly and the very top rates carry conditions. A T-bill needs no bank relationship or fresh-funds condition and is a direct government obligation with no S$100,000 insurance cap; an FD gives a known rate upfront and simpler early exit (forfeit interest rather than sell at market).
Are T-bills safe?Six-month and 1-year T-bills are direct obligations of the Singapore Government, which holds AAA credit ratings — there is no deposit-insurance cap because the credit risk sits with the sovereign, not a bank. The practical risks are liquidity (no early redemption; cash applicants can only sell in the secondary market at an unguaranteed price) and auction risk (a non-competitive bid accepts whatever the cut-off is).
Why did the T-bill cut-off rise in 2026?Cut-offs climbed from 1.39% in January to 1.60% at the latest auction, with one dip (1.56% on 13 Aug). Short-term SGD yields track global rates — the US Fed held rates with a hawkish tilt through 2026 and banks competed harder for deposits, pulling the whole short end up. The Fed's 15–16 September decision is the next big swing factor.

Go deeper: T-bill vs fixed deposit — the full guide · the SSB’s rate ladder · this month’s FD promo ranking.

Official sources

Auction figures verified 2026-09-07against MAS’s official auction data and cross-checked against the cited independent trackers; MAS’s published results are the binding reference. Future auction dates are from the MAS issuance calendar and can change. Yields are set at auction and cannot be known in advance — nothing here predicts a cut-off. This is education and comparison, not a recommendation to buy any security; bank application deadlines and CPF/SRS procedures vary — confirm with your bank.