Average interest per annual for 1-year and 10-year period

The 1-year interest rate for this month SSB has reached the highest at 1.80% since inception. The increase is in tandem with the increase in interest rates by the US Federal Reserve. We are still looking at a flattening yield curve trend as the short term rates are catching up with the long term rates. As the short term rates continue to raise, it is becoming more attractive for short term play. So far, my holdings in SSBs played a role of diversification and is intended to be held till maturity for 10 years. I am now considering to use SSBs as a pseudo-savings account to ride along with the increasing interest rate environment.

This could be an option if you have max out your high interest savings account such as DBS Multiplier, UOB One or OCBC 360, and there …