Shares & Derivatives
Your ultimate FAQ guide to Singapore T-bills
By Beansprout  •  October 21, 2022

Introduction and features of T-bills

What is the T-bill?

  • T-bills are short-term, tradable debt issued by the Singapore government.
  • T-bills have a maturities of 1 year or less.

What is the difference between T-bill to SGS Bonds?

  • SGS bonds have a maturity of 2 to 30 years, while T-bills have a shorter maturity of 6 or 12 months.
  • SGS bonds pay interest every 6 months. T-bills do not have coupon payments; instead they are issued at a discount to the face value of the bond.
  • You can read more about the difference here!
  SGS bonds T-bills
Available tenor 2, 5, 10, 15, 20, 30 or 50 years 6 months or 1 year
Type of interest rate payment Fixed coupon No coupon; issued and traded at a discount to the face (par) value
How often interest is paid Every 6 months, starting from the month of issue At maturity
Secondary market trading At DBS, OCBC or UOB main branches; on SGX through brokers At DBS, OCBC or UOB main branches
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By Beansprout
Hi, I’m Gerald! I have been working in investment analysis for more than 12 years. Often, I encounter everyday investors who find it difficult to invest. At Beansprout, we believe that with the right tools and knowledge, everyone can be an investor. Hence, we founded Beansprout to make quality investment insights more accessible. We hope that you can join us on this journey to grow your financial knowledge and confidence as an investor.

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