The Singapore T-bill yield and SSB interest rates rose while S&P 500 reached a record high.
At the end of last month, I asked a friend who was recently looking for a new savings account whether she had done so.
“I’m waiting for March so that I can be the 1st 200 new-to-bank customers of the month and win the promotion rewards”, she shared.
(No prizes for guessing which savings account she opened in the end)
Indeed, many of us always await the start of the month to find out if there are better ways to grow our wealth.
This month, the 10-year average return on the Singapore Savings Bonds (SSB) rebounded to above 3%, providing an option for investors looking to lock in interest rates for a longer period.
Earlier, we also saw the cut-off yield on the latest 6-month Singapore T-bill jump to 3.8% as demand moderated.
Most banks have also kept the interest rates on savings accounts unchanged in March....