The 10-year average interest rate of savings bonds issued in May and June this year also fell by 0.2 percentage points month-on-month, but the interest rate was significantly higher at that time.
The public can subscribe for these savings bonds through the ATMs and Internet banking websites of three local banks, as well as the mobile app of OCBC. The minimum subscription amount is 500 yuan, and the public can only hold savings bonds of no more than 200,000 yuan at any time.
The public can subscribe to the batch of savings bonds that will be issued on August 1 from now on. The subscription deadline is 9 pm on July 28.
The first-year interest rate of savings bonds issued on Tuesday was 2.06%, and received a total subscription amount of RMB 353.7 million at the end of June 25, which was lower than the maximum supply for four consecutive months. The maximum supply has dropped sharply from 700 million yuan in April to 400 million yuan.
The 10-year average interest rate of the new batch of Singapore Savings Bond (SSB) fell to 2.29%, down 0.2 percentage points from the previous batch, the largest drop this year, and has fallen for five consecutive months, and the longest decline since July 2020.
The new batch of savings bonds released by the Monetary Authority of Singapore on Tuesday (July 1) will be issued on August 1, with the maximum supply amount remaining at 400 million yuan, with the first annual interest rate of 1.82%, which is the first time since July 2022 that it has fallen below 2.00%.