6-Month T-bill (BS26100A) is announced today!
Get Notified When a New 6-Month T-bill is Announced in Future
6-Month T-bill BS26100A (31 Dec 2025) Open
24 Dec 2025
6-Month T-bill BS26100A is open for application from 24 Dec 2025. Auction will be conducted on 31 Dec 2025.
A total of $7.8B is offered for this issue, lower than that of $7.9B for the previous issue, BS25125Z (18 Dec 2025).
Application typically closes on 30 Dec 2025. CPF application may close a business day earlier. Closing date and time may vary from bank to bank. Please check with your bank for the exact cut-off time.
Auction Open
- Announcement Date
- 24 Dec 2025 Notify me
- Closing Date (Typical)
- 30 Dec 2025 Remind me
- Auction Date
- 31 Dec 2025 Notify me
- Issue Date
- 06 Jan 2026
- Maturity Date
- 07 Jul 2026
- Issue Code
- BS26100A
- ISIN Code
- SGXZ83126144
- Total Amount Offered
- $7,800,000,000
Upcoming Auctions
| Announcement | Auction | Issue | Maturity | Code | ISIN |
|---|---|---|---|---|---|
| 08 Jan 2026 | 15 Jan 2026 | 20 Jan 2026 | 21 Jul 2026 | BS26101E | SGXZ15837941 |
| 22 Jan 2026 | 29 Jan 2026 | 03 Feb 2026 | 04 Aug 2026 | BS26102F | SGXZ42579045 |
| 05 Feb 2026 | 12 Feb 2026 | 19 Feb 2026 | 18 Aug 2026 | BS26103Z | SGXZ41539966 |
Recent SGS Benchmark Yield
| Date | 18 Dec 2025 | 19 Dec 2025 | 22 Dec 2025 | 23 Dec 2025 | 24 Dec 2025 |
|---|---|---|---|---|---|
| 6-Month Yield (%) | 1.46 | 1.46 | 1.45 | 1.45 | 1.45 |
Source: Daily SGS Prices (MAS)
If you wish to submit a competitive bid for this issue, you need to know what is the fair rate. The 6-Month SGS benchmark yield reflects the bid rate quoted by SGS primary dealers. It provides an indication of the current market rate.
Nonetheless, the cut-off yield will be determined through an auction (ie. depends on demand). You may take hints from the statistics below and see how the cut-off yield compared with previous day benchmark yield in past auctions.
Auction Statistics (Last 10 Auctions in The Last 4 Years)
Cut-Off Yield, Previous Day Benchmark Yield
| Auction Date | Issue Code | Cut-Off Yield (%) | Previous Day Benchmark Yield (%) | Difference (%) |
|---|---|---|---|---|
| 14 Aug 2025 | BS25116A | 1.59 | 1.67 | -0.08 |
| 28 Aug 2025 | BS25117E | 1.44 | 1.54 | -0.10 |
| 11 Sep 2025 | BS25118F | 1.38 | 1.41 | -0.03 |
| 25 Sep 2025 | BS25119Z | 1.44 | 1.37 | 0.07 |
| 09 Oct 2025 | BS25120N | 1.44 | 1.40 | 0.04 |
| 23 Oct 2025 | BS25121V | 1.41 | 1.38 | 0.03 |
| 06 Nov 2025 | BS25122A | 1.37 | 1.38 | -0.01 |
| 20 Nov 2025 | BS25123E | 1.39 | 1.33 | 0.06 |
| 04 Dec 2025 | BS25124F | 1.41 | 1.37 | 0.04 |
| 18 Dec 2025 | BS25125Z | 1.48 | 1.39 | 0.09 |
Cut-Off Yield had been in the range of -0.10 to 0.09 of Previous Day Benchmark Yield in the auctions above.
Cut-Off Yield, Median Yield, Average Yield
| Auction Date | Issue Code | Cut-Off Yield (%) | Median Yield (%) | Average Yield (%) |
|---|---|---|---|---|
| 14 Aug 2025 | BS25116A | 1.59 | 1.55 | 1.48 |
| 28 Aug 2025 | BS25117E | 1.44 | 1.39 | 1.30 |
| 11 Sep 2025 | BS25118F | 1.38 | 1.31 | 1.27 |
| 25 Sep 2025 | BS25119Z | 1.44 | 1.33 | 1.23 |
| 09 Oct 2025 | BS25120N | 1.44 | 1.38 | 1.29 |
| 23 Oct 2025 | BS25121V | 1.41 | 1.35 | 1.29 |
| 06 Nov 2025 | BS25122A | 1.37 | 1.30 | 1.14 |
| 20 Nov 2025 | BS25123E | 1.39 | 1.34 | 1.22 |
| 04 Dec 2025 | BS25124F | 1.41 | 1.36 | 1.22 |
| 18 Dec 2025 | BS25125Z | 1.48 | 1.37 | 1.27 |
Total Amount Offered, Total Amount Applied, Bid-to-Cover Ratio
| Auction Date | Issue Code | Total Amount Offered | Total Amount Applied | Bid-to-Cover Ratio |
|---|---|---|---|---|
| 14 Aug 2025 | BS25116A | $7,500,000,000 | $17,912,895,000 | 2.39 |
| 28 Aug 2025 | BS25117E | $7,700,000,000 | $18,384,730,000 | 2.39 |
| 11 Sep 2025 | BS25118F | $7,800,000,000 | $15,728,418,000 | 2.02 |
| 25 Sep 2025 | BS25119Z | $7,700,000,000 | $13,450,686,000 | 1.75 |
| 09 Oct 2025 | BS25120N | $7,800,000,000 | $14,809,877,000 | 1.90 |
| 23 Oct 2025 | BS25121V | $7,900,000,000 | $15,850,556,000 | 2.01 |
| 06 Nov 2025 | BS25122A | $8,000,000,000 | $18,608,988,000 | 2.33 |
| 20 Nov 2025 | BS25123E | $8,000,000,000 | $16,877,758,000 | 2.11 |
| 04 Dec 2025 | BS25124F | $8,000,000,000 | $16,252,759,000 | 2.03 |
| 18 Dec 2025 | BS25125Z | $7,900,000,000 | $14,880,055,000 | 1.88 |
Total Amount Allotted, Amount (%) Allotted to Non-Competitive Applications
| Auction Date | Issue Code | Total Amount Allotted | Amount Allotted to Non-Competitive Applications | % Allotted to Non-Competitive Applications | % of Non-Competitive Applications Allotted |
|---|---|---|---|---|---|
| 14 Aug 2025 | BS25116A | $7,500,000,000 | $1,366,470,000 | 18.22% | 100.00% |
| 28 Aug 2025 | BS25117E | $7,700,000,000 | $1,183,912,000 | 15.38% | 100.00% |
| 11 Sep 2025 | BS25118F | $7,800,000,000 | $1,190,757,000 | 15.27% | 100.00% |
| 25 Sep 2025 | BS25119Z | $7,700,000,000 | $903,512,000 | 11.73% | 100.00% |
| 09 Oct 2025 | BS25120N | $7,800,000,000 | $1,167,035,000 | 14.96% | 100.00% |
| 23 Oct 2025 | BS25121V | $7,900,000,000 | $1,121,150,000 | 14.19% | 100.00% |
| 06 Nov 2025 | BS25122A | $8,000,000,000 | $1,267,400,000 | 15.84% | 100.00% |
| 20 Nov 2025 | BS25123E | $8,000,000,000 | $1,113,766,000 | 13.92% | 100.00% |
| 04 Dec 2025 | BS25124F | $8,000,000,000 | $1,301,890,000 | 16.27% | 100.00% |
| 18 Dec 2025 | BS25125Z | $7,900,000,000 | $1,357,188,000 | 17.18% | 100.00% |
Non-competitive bids will be allotted first, up to 40% of the total issuance amount. If the amount of non-competitive bids exceeds 40%, the bond will be allocated on a pro-rated basis. This means, when % Allotted to Non-Competitive Applications reaches 40%, % of Non-Competitive Applications Allotted will be less than 100%.
The latest SSB (SBJAN26) has a 10-year average return of 1.99% p.a. View Details
The next SSB (SBFEB26) is projected to have a higher 10-year average return. View Projection