Products for Institutions

Institutions can buy SGS Bonds and T-bills issued by the Singapore Government, as well as MAS Bills issued by the MAS.

SGS Bonds  SGS T-bills  MAS Bills 
Available tenor
2, 5, 10, 15, 20 or 30 years 6 months or 1 year 4 or 12 weeks
Method of sale
Uniform price auction - competitive or non-competitive bids Uniform price auction - competitive or non-competitive bids
Uniform price auction - competitive bids only
Frequency of issuance
Monthly, according to the issuance calendar  Fortnightly or quarterly, according to the issuance calendar  Weekly for 4-week and 12-week bills, according to the issuance calendar
Central bank participation
Yes, only on a non-competitive basis; intended amount (if any) is announced before each auction Yes, only on a non-competitive basis; intended amount (if any) is announced before each auction No
Minimum investment amount
S$1,000, and in multiples of S$1,000 S$1,000, and in multiples of S$1,000 S$1,000, and in multiples of S$1,000
Maximum investment amount
None for overall holdings; up to the allotment limit for auctions None for overall holdings; up to the allotment limit for auctions
None
Type of interest rate payment
Fixed semi-annual coupon Zero-coupon; issued on a discount basis Zero-coupon; issued on a discount basis
Frequency of interest payments
Every 6 months, starting from the month of issue At maturity At maturity