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 |