Treasury Bills
| Issue Code | Tenor | Auction Date | Cut-off Yield | Avg Yield | Subscription |
|---|---|---|---|---|---|
| BY26103X | 12mo | 15 Oct 2026 | — | — | Opens in 64d |
| BS26119F | 6mo | 24 Sept 2026 | — | — | Opens in 43d |
| BS26118E | 6mo | 10 Sept 2026 | — | — | Opens in 29d |
| BS26117A | 6mo | 27 Aug 2026 | — | — | Opens in 15d |
| BS26116V | 6mo | 13 Aug 2026 | — | — | Open · 8d left |
| BS26115N | 6mo | 30 Jul 2026 | 1.590% | 1.470% | |
| BY26102T | 12mo | 23 Jul 2026 | 1.680% | 1.440% | |
| BS26114W | 6mo | 16 Jul 2026 | 1.550% | 1.440% | |
| BS26113X | 6mo | 02 Jul 2026 | 1.500% | 1.380% | |
| BS26112T | 6mo | 18 Jun 2026 | 1.470% | 1.320% | |
| BS26111H | 6mo | 04 Jun 2026 | 1.480% | 1.320% | |
| BS26110S | 6mo | 21 May 2026 | 1.450% | 1.320% | |
| BS26109N | 6mo | 07 May 2026 | 1.400% | 1.250% | |
| BS26108W | 6mo | 23 Apr 2026 | 1.400% | 1.300% | |
| BY26101H | 12mo | 16 Apr 2026 | 1.460% | 1.310% | |
| BS26107X | 6mo | 09 Apr 2026 | 1.470% | 1.350% | |
| BS26106T | 6mo | 26 Mar 2026 | 1.460% | 1.300% | |
| BS26105H | 6mo | 12 Mar 2026 | 1.370% | 1.230% | |
| BS26104S | 6mo | 26 Feb 2026 | 1.360% | 1.250% | |
| BS26103Z | 6mo | 12 Feb 2026 | 1.360% | 1.230% | |
| BS26102F | 6mo | 29 Jan 2026 | 1.370% | 1.260% | |
| BY26100S | 12mo | 22 Jan 2026 | 1.440% | 1.270% | |
| BS26101E | 6mo | 15 Jan 2026 | 1.390% | 1.190% | |
| BS26100A | 6mo | 31 Dec 2025 | 1.600% | 1.370% |
Frequently asked questions
What is a Singapore Treasury Bill (T-bill)?
A T-bill is a short-term Singapore government security sold at a discount to its face value -- you pay less than $100 per $100 of face value at auction, and get the full $100 back at maturity, with the discount effectively acting as your return. MAS auctions 6-month and 1-year T-bills regularly, with no early redemption before maturity.
What does "Opens in Xd" mean, and when can I actually apply?
Each T-bill has an auction date -- the day MAS holds the bidding and sets the cut-off yield. Applications open and close before that: "Opens in Xd" counts down to when the application window starts, and once open you typically have a few days to apply (via ATM, internet banking, or CPF/SRS) before it closes, still ahead of the auction itself. The Cut-off Yield and Avg Yield columns stay blank until after the auction happens, since that's when the yield is actually set -- but T-bill yields for the same tenor don't tend to swing a lot auction to auction, so a recent completed auction is a reasonable rough guide while you wait.
What's the difference between the cut-off yield and the average yield?
MAS T-bill auctions use a uniform-price format, so every successful bidder pays the same cut-off yield -- the lowest yield accepted at that auction. The average yield is the weighted average across all accepted bids, and is usually very close to the cut-off yield but can differ slightly depending on how competitive the auction was.