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Treasury bills (T bills) Singapore 2023: How to apply for Individual / Retail Investors?, Submit through PD

Treasury bills (T bills) Singapore
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T bills Singapore 2023

What is t bill Singapore?

Treasury bills (T-bills) are short-term, tradable Singapore Government Securities that are issued at a discount to their face value.

How to Submit T Bills Singapore through Primary Dealer (PD), SG?

Investors must submit their bids through a primary dealer (PD) to take part in Singapore Government Securities (SGS) or MAS-issued Securities auctions. You may trade SGS bonds and Treasury Bills (T-bills) in the secondary market through Primary Dealers.

  • For Institutional Investors
  • For Retail Investors

Institutional Investors

Institutional investors can approach any of the 13 primary dealers (PDs) given below.

Australia & New Zealand Banking Group Ltd Deutsche Bank AG
Bank of America, National Association Hongkong and Shanghai Banking Corporation Ltd
Barclays Bank PLC Malayan Banking Bhd
BNP Paribas SA Oversea-Chinese Banking Corporation Ltd
Citibank, NA Standard Chartered Bank (Singapore) Limited
Credit Suisse AG United Overseas Bank Ltd
DBS Bank Ltd

Retail Investors

Individual investors can approach DBS, OCBC and UOB for SGS transactions. They can also apply for SGS through DBS/POSB, OCBC and UOB ATMs and internet banking.

Bank Contact Branch address
DBS 1800-111 1111 12 Marina Boulevard Level 3
UOB 1800-222 2121 80 Raffles Place
OCBC 1800-363 3333 65 Chulia Street

Website: https://www.mas.gov.sg/find-a-primary-dealer

Is T-Bills a good investment in Singapore?

  • T-bills are considered a safe, conservative and low risk investment.

What is the interest rate of Treasury Bill 2023 in Singapore?

  • 6 month Singapore T-bill offers a yield of 3.99% p.a. in a recent auction held in 20 July 2023.
  • 1-year T-bill auction on 27th July 2023.

What is the rate of 1 year Treasury bill in Singapore?

  • 1-year T-bill auction on 27th July 2023 and the rate will be determined. You can check back after 1pm on 27 Jul 2023.

Auction: BS23114A 6-Month T-bill (New)

Investors may submit auction applications for the following 6-Month Singapore Government Securities (SGS) Treasury bill.

  • Announcement date: 13-Jul-23
  • Auction date: 20-Jul-23
  • Issue date: 25-Jul-23
  • Maturity date: 23-Jan-24
Allotment Yield and Price
Total Amount Allotted
 S$5.6 billion
Cut-off Yield
 3.85% p.a.
Amount Allotted to Non-Competitive Applications
 S$2.2 billion
Cut-off Price
 98.08
Amount Allotted to MAS
 S$0.0 million
Median Yield 
 3.65% p.a.
Total Amount Applied
 S$12.2 billion
Median Price
 98.18
% of Competitive Applications at Cut-off Allotted
 Approximately 26%
Average Yield 
 2.88% p.a.
% of Non-Competitive Applications Allotted
 100%
Average Price
 98.564
Bid-to-Cover Ratio
 2.18

Auction: BY23102N 1-Year T-bill (New)

Investors may submit auction applications for the following 1-Year Singapore Government Securities (SGS) Treasury bill.

  • Announcement date: 20 Jul 2023
  • Auction date: 27 Jul 2023
  • Issue date: 01 Aug 2023
  • Maturity date: 30 Jul 2024

NOTE: 1-year T-bill auction on 27th July 2023 and the rate will be determined. You can check back after 1pm on 27 Jul 2023.

How to Buy SG Treasury bills?

Investors can buy SGS bonds and T-bills using,

  1. Cash
  2. Supplementary Retirement Scheme (SRS) funds or CPF Investment Scheme (CPFIS) funds.

What are the requirements to buy T-Bills SG?

Cash application

  • Have Bank Account with one of the three local banks – DBS/POSB, OCBC and UOB.
  • You must have an individual CDP account with Direct Crediting Services activated (Coupon and principal payments to be credited directly into your bank account).

Note: You can’t buy SGS with a joint CDP account.

SRS application

  • Must have SRS account with the three SRS operators (DBS/POSB, OCBC, and UOB).

CPFIS-OA application

  • You will need a CPF investment Account with any of the three CPFIS agent bank [DBS/POSB, OCBC, and UOB].

CPFIS-SA application

  • If you wish to invest CPFIS-SA funds, no need to open a CPF Investment Account.

How to Sell T-bills in Singapore?

Investors can’t redeem their T-bills early. You may choose to sell your T-bill on the secondary market at DBS, OCBC, or UOB’s main branches.

*** T-bill may rise or fall before maturity and the trading volume for T-bills is low, making them relatively illiquid.

How to apply for Singapore T Bills for Individuals?

You can apply through DBS/POSB, OCBC and UOB ATM’s or internet banking. Investors can get the Singapore Government Securities (SGS) bonds and Treasury Bills (T-bills) 3 business days before issuance and are announced on the SGS website 5 business days before the auction.

For more information, please visit https://www.mas.gov.sg/

Cash application Apply thro’ DBS/POSB, OCBC and UOB ATMs and internet banking portal
SRS application Apply SRS Operator (DBS/POSB, OCBC, or UOB)
CPFIS-OA application Submit your application via your CPFIS-OA agent banks (DBS/POSB, OCBC, or UOB).

  • DBS/POSB: Apply thro’ DBS/POSB’s internet banking portal.
  • OCBC: Apply through OCBC’s internet banking portal or OCBC Digital application.
  • UOB: Apply for SGS bonds in person at any UOB branch. Apply for T-bills through UOB’s internet banking portal.

NOTE: Restricted to your CPFIS-OA agent bank to facilitate the settlement process for SGS bonds and T-bills purchased under CPFIS-OA.
CPFIS-SA application Submit an application via your CPFIS bond dealers (DBS/POSB, OCBC, or UOB).

  • DBS/POSB: Apply in person at any DBS/POSB branch.
  • OCBC: Apply through OCBC’s internet banking portal or OCBC Digital application.
  • UOB: Apply in person at any UOB branch.

What will be the minimum investment amount for Singapore SGS Bonds & T-Bills?

  • The minimum bid amount for SGS bonds and T-bills is S$1,000.

How to check SGS results / t-bill auction results in Singapore?

How an Investors can check the T-Bills results in Singapore?

  1. You can use the issuance calendar to check the results an hour later, after an auction closes.
  2. The SGS bonds / T-bills will be issued 3 business days after the results are announced.

If your bid is successful, the securities will be reflected in your respective accounts after the issuance date.

  • Cash applications: Check your CDP statement
  • SRS application: Check the statements from your SRS Operator (DBS/POSB, OCBC and UOB are SRS operators)
  • CPFIS-OA application: Verify the CPFIS statement sent by your agent bank (DBS/POSB, OCBC and UOB are CPFIS agent banks)
  • CPFIS-SA application: You can check your CPF statement

How Primary dealers can submit the bids in Singapore?

  1. Submit through eApps Facility: https://eservices.mas.gov.sg/sgseapps/
  2. To login use your Singpass Account.

How to get the Treasury bills (T bills) Singapore Statistics

You can view the closing Prices, Daily Treasury Bills Prices, historical auction data from the below link.  https://www.mas.gov.sg/bonds-and-bills/treasury-bills-statistics

More detailed Information: Contact Monetary Authority of Singapore (MAS)

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