SSB rates continue to climb this month. MAS has released the SSB Nov 2026 (SBNOV26 GX26110X) offering, with a 1.67% first-year rate and a 2.45% 10-year average rate. This is good news for income investors as SSB rates continue their upward trend!
SSB Nov 2026 Details
It’s another great month for SSB lovers, as SSB rates have risen once more! SSB Nov 2026 has a 1.67% first-year rate and a 2.45% 10-year average rate.
With the Fed raising interest rates at its latest FOMC meeting and continued inflationary pressure in the US, partly driven by tensions in the Middle East, it is no surprise we’re seeing higher rates this month.
If you are yet to fill your desired SSB allocation and are interested in this month’s offering, please take note of the following application timeline:
| Opening date | 01 Oct 2026, 6pm |
| Closing date | 27 Oct 2026, 9pm |
| Allotment date | 28 Oct 2026, after 3pm |
| Issuance date | 02 Nov 2026 (by end of day) |
How Competitive?
SSB interest rates were much higher from late 2022 to 2024, but they have been falling since then. Despite having decent rates, this SSB Nov 2026 still offers interest rates somewhat lower than what investors could get a few years ago.
However, interest rates have started to rise again, and if this trend continues, they could increase further in the coming months. This may create an opportunity for investors to lock in more attractive returns.
That said, future interest rates are not guaranteed and may move up or down. For investors seeking a steady income stream, this month’s SSB offering still offers decent rates.
Future Rates Projection
SSB rates tend to follow the broader interest rate environment. One way to make an educated guess is by looking at the US Fed’s interest rate policy decisions.
At its latest FOMC meeting, the Fed raised interest rates by 25bps, meaning it has finally broken, at least temporarily, its interest-rate-cut campaign.
The market agrees with the Fed’s decision and expects more rate hikes in the coming months.
If this projection holds, SSB rates can continue their upward march in the coming months, following the broader interest rate environment.
What About Next Month’s Rates?
We can make an educated guess on where SSB rates next month will be by looking at the movement of the 10-year Singapore government bond yield in the market now:
The chart shows a strong upward momentum in the past few months. If this momentum holds, we can expect next month’s SSB rates to keep climbing.
We are still early in the month, and rates may continue to fluctuate. To get a more accurate estimate, keep an eye on how this yield changes as we approach the end of the month.
What Do We Do?
We love SSB because it lets us lock in rates for up to ten years while still allowing monthly redemption without penalty.
We have migrated all of our short- to medium-term cash allocation from T-bills to SSB during 2023, when the SSB rates peaked. Because this month’s SSB rates are still lower than our holdings, we will not be participating this month.
What about you? Will you be participating this month?
If you are interested in this month’s SSB, you can follow our step-by-step guide on how to buy SSB.
