Following April 2023’s Singapore Saving Bond’s (SSB) oversubscription, May 2023 SSB is almost completely subscribed with S$697.2 million allotted out of the S$700 million tranche. This is a subscription level of 99.6% which means there is no ceiling amount. Applicants would have gotten whatever amount they applied for except those who applied beyond the individual limit of S$200,000 per person across all SSBs. There was actually S$705.5 million applied for, which means quite a few people applied for amounts beyond the maximum S$200,000 of SSBs a single person can hold. Past SSBs For comparison, here are the average returns per year given by recent SSBs:

Year From Issue Date	1	2	3	4	5	6	7	8	9	10
Mar 2023	2.76	2.76	2.76	2.76	2.76	2.76	2.78	2.82	2.86	2.90
Apr 2023	3.01	3.01	3.01	3.01	3.01	3.01	3.03	3.07	3.12	3.15
May 2023	3.03	3.03	3.03	3.03	3.03	3.03	3.03	3.04	3.06	3.07

Average return per year % See More Past SSBs

Year From Issue Date	1	2	3	4	5	6	7	8	9	10
May 2022	0.86	1.49	1.72	1.84	1.91	1.96	2.01	2.04	2.06	2.09
Jun 2022	1.43	1.92	2.16	2.30	2.37	2.43	2.46	2.49	2.51	2.53
Jul 2022	1.69	2.16	2.37	2.47	2.54	2.60	2.63	2.66	2.69	2.71
Aug 2022	2.00	2.42	2.63	2.74	2.82	2.88	2.92	2.95	2.97	3.00
Sep 2022	2.63	2.67	2.68	2.69	2.69	2.71	2.73	2.75	2.78	2.80
Oct 2022	2.60	2.60	2.60	2.62	2.64	2.66	2.68	2.70	2.73	2.75
Nov 2022	3.08	3.11	3.14	3.15	3.16	3.17	3.18	3.19	3.20	3.21
Dec 2022	3.26	3.26	3.27	3.34	3.39	3.42	3.44	3.45	3.46	3.47
Jan 2023	2.95	2.95	2.95	3.02	3.09	3.13	3.16	3.19	3.23	3.26
Feb 2023	2.84	2.84	2.84	2.84	2.84	2.84	2.86	2.90	2.94	2.97
Mar 2023	2.76	2.76	2.76	2.76	2.76	2.76	2.78	2.82	2.86	2.90
Apr 2023	3.01	3.01	3.01	3.01	3.01	3.01	3.03	3.07	3.12	3.15

Average return per year %...