Compare FD, T-Bill and SSB Returns
Enter an amount and a holding period and this tool shows the total interest from three options: a fixed deposit (your own quoted rate), a 6-month T-bill (live MAS cut-off yield) and the current Singapore Savings Bond (its official average return for that period).
On this page (4 sections)
Fixed deposits, T-bills and Singapore Savings Bonds all park cash safely, but they pay differently and lock your money for different lengths. This tool lines up the net interest side by side over the period you choose.
Compare FD, T-bill and SSB returns
Based on MAS — bonds & bills. As of 25 Oct 2026. Illustrative. T-bill and SSB figures use live MAS rates; the FD rate is your own quote. Not a recommendation — check each provider's terms.
How it is calculated
- Fixed deposit:
amount × your rate × years(simple interest). For multi-year periods it assumes renewal at the same rate — illustrative, since promo rates change. - 6-month T-bill: the live MAS cut-off yield is turned into the effective return on the money outlaid (Actual/365 discount method), then applied over the period assuming each bill is rolled at the same yield.
- SSB: uses the current issue’s official average return for the holding period — the savingbondsinterest API publishes a return for each year 1–10, reflecting the step-up coupons.
The highest total in the illustration is highlighted, but the right choice also depends on when you might need the money back.
A worked example (illustrative)
S$10,000 held for 1 year, with an FD quoted at 2.00%, the latest 6-month T-bill at 1.95% and the current SSB year-1 return of 1.67%:
- Fixed deposit: 10,000 × 2.00% = S$200.
- T-bill: ≈ S$197 (1.97% effective on outlay — slightly above the 1.95% cut-off).
- SSB (1 year): 10,000 × 1.67% = S$167, but redeemable any month with no penalty.
Over 10 years the SSB’s average return rises (2.45% for the current issue), changing the ranking — try the holding-period buttons.
Limits of this estimate
- It assumes today’s rates persist when a T-bill or FD is renewed; real future rates will differ.
- It uses simple interest and ignores transaction fees, SDIC/CPFIS nuances and tax treatment.
- It is general information, not a recommendation — an FD’s rate is only as good as the quote you enter, and liquidity needs matter as much as the headline return.
Related guides
Sources
- Treasury Bills auction results (listbondsandbills API) — Monetary Authority of Singapore (as of 22 October 2026)
- Savings Bonds interest rates (savingbondsinterest API) — Monetary Authority of Singapore (as of October 2026)