Singapore Savings Bond (SSB) Interest Rates Projection January 2024
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Wondering if you should invest in the current month’s Singapore Savings Bond (SSB) or wait for next month for potentially higher interest rates?

Thanks to SSB technical specifications by the Money Authority of Singapore (MAS) and some really complicated mathematics done by user “@hwckhs” from I Love SSB, we can actually predict with high accuracy what next month’s SSB interest rate will be!
TL;DR:Â SSB Interest Rate Projection January 2024
Jump to:
- What Is Next Month’s SSB Interest Rate Projection?
- Is The SSB Interest Rate Projection Accurate?
- How Can I Use The Projections To My Advantage?
What Is Next Month’s SSB Interest Rate Projection?
For the next SSB, the 10-year average return for the SSB in January 2024 is projected to be 3.09% p.a., with interest rates from 3.06% p.a. (year 1) to 3.24% p.a. (year 10).
As of the time of writing, the confidence level is at 70%. This is because confidence increases towards the end of the month as more daily SGS yields become available.
The latest daily SGS yield considered is on 22 Nov 2023.
Disclaimer: These rates are projected by I Love SSB using SSB technical specifications given by MAS. The information provided by Seedly serves as an educational piece and is not intended to be personalised investment advice. ​Readers should always do their own due diligence and consider their financial goals before investing in any investment product. Note that the information is accurate as of 23 Nov 2023.
Is The SSB Interest Rate Projection Accurate?
You might be wondering, how do we even get these figures and are the projections even accurate?
As mentioned before, there are SSB technical specifications by MAS that allow us to do these projections. However, as the math is really complicated for the average person to understand, we’ll trust the results instead.
I Love SSB has done past SSB interest rate projections and so far, they have all seen an accuracy rate of above 95 per cent!
The website has even backtested data all the way from 2015 onwards to further prove that the results are fairly accurate.
Here are the past projections for the last two months:

As you can tell, the 10-year average return is pretty much on the money while the other numbers aren’t too far off either!
How Can I Use The Projections To My Advantage?
Now that we can project future SSB interest rates, here’s how you can use that information to your advantage!
For starters, if you have a sum of money that you want to invest in Singapore Savings Bonds but have yet to do so, you may wait for the following month if it has a higher projected interest.
For seasoned SSB investors who already have previous allotments, you may use these projections to start a bond ladder.
In essence, you’ll redeem an earlier SSB issue and reinvest it into a high-yielding SSB for more interest.
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For those of us who want to see detailed calculations of how much more interest you would earn, here is a calculator by I Love SSB that you can use to see how much more interest you would earn!
