T-bills vs Fixed Deposit vs SSB: Which offers the best yield in June 2026

What happened?

I’m taking a closer look at T-bills, fixed deposits and Singapore Savings Bonds (SSB) this June.

After the US Fed concluded its June meeting, its higher-for-longer rate signal may continue to influence global yields, including in Singapore.

Closer to home, the latest 6-month Singapore T-bill cut-off yield has remained near its recent highs.

At the same time, there are also early signs that the best fixed deposit rates in Singapore in Singapore are inching higher.

The latest SSB continues to offer steady returns, while savings account rates remain relatively low unless we meet salary, spending or fresh-funds conditions.

With these changes, I have seen more discussion in the Beansprout community about where best to park our spare cash, while keeping our liquidity pot accessible for short-term needs.

In this article, I’ll compare some popular options such as T-bills, Singapore Savings Bonds (SSBs), fixed deposits, savings accounts and money market funds to find out which options offer the best yields in June.

Latest 6-month Singapore T-bill offers yield of 1.47%

Firstly, let's take a look at the latest 6-month Singapore T-bill. 

The yield on the Singapore T-bill remains elevated in recent auctions.

The cut-off yield on the 6-month T-bill in Singapore remained steady at 1.47% in the recent auction on 18 June 2026. This represents a slight decrease in yield from the previous 6-month T-bill auction on 4 June 2026

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Best 6-month fixed deposit rate in Singapore of 1.50% p.a. in June 2026

The best fixed deposit rates in Singapore have moved higher in recent weeks this month. 

• The best 3-month fixed deposit rate we found was 1.35% p.a. by Bank of China
• The best 6-month fixed deposit rate we found was 1.50% p.a. offered by HL Bank and SBI
• The best 9-month fixed deposit rate we found was 1.45% p.a. offered by Singapura Finance.
• The best 12-month fixed deposit rate we found was 1.60% p.a. offered by GXS.

To get the latest list of best fixed deposit rates this month, check out our guide to the best fixed deposit rates in Singapore.

Best no-frills savings account in Singapore offers an interest rate of up to 1.50% p.a.

If you are looking for a fuss-free savings account to park your cash, the UOB Stash Account offers an effective interest rate of up to 1.50% p.a. on the first S$100,000. 

You can also make use of the UOB Stack Your Cash Savings Promotion to earn up to $700 guaranteed cash when you deposit fresh funds into your UOB Stash account. 

For smaller cash balances, the SingFinance GoSaver is another simple option. It offers up to 1.30% p.a. on the first S$100,000 without additional requirements.

There are also promotional savings account options for those with fresh funds.

For example, the OCBC Statement Savings Account offers 1.50% p.a. on S$50,000 to S$3 million in incremental fresh funds under its promotion, provided the funds are maintained for 5 months. The promotion is valid till 30 June 2026.

However, if you are able to meet salary crediting, saving and spending requirements, selected savings accounts may offer higher effective interest rates.

The OCBC 360 Account offers up to 1.95% p.a. effective interest on the first S$100,000 in June 2026 if you credit your salary, save regularly and spend on an OCBC card. Find out more about the OCBC 360 Account here.

The DBS Multiplier Account may also be worth considering if you can credit your salary, spend on a DBS or POSB credit card, and service a home loan with DBS. Under this combination, you could earn 2.10% p.a. on the first S$100,000, rising to as high as 3.00% p.a. if your eligible transactions exceed S$30,000. For those able to credit their salary, transact across more categories and hit higher eligible transaction tiers, DBS Multiplier can offer up to 4.10% p.a. 

If you are 29 years old and below, DBS Multiplier also offers 1.50% p.a. on the first S$50,000 with any credit card or PayLah! retail spend, even without salary crediting. Find out more about the DBS Multiplier Account here.

Compare the best savings account in Singapore here.

Latest Singapore Savings Bonds (SSB) offer a 10-year average return of 2.11%

The July issuance of the SSB (SBJUL26 GX26070F) offers a 1-year interest rate of 1.46%, and a 10-year average return of 2.11%. 

This is on par with the 10-year average return of the previous SSB, which was also 2.11%. 

I would consider the SSB mainly for the opportunity to lock in the yields for a period of up to 10 years.

As of 18 June 2026, the 10-year average return of the next SSB is projected to decline at around 2.04%.

You can find out how to to construct a T-bill and SSB bond ladder here. 

To get the most updated projections, you can check out our latest interest rate projections for the next SSB here.

What are the other options to earn a higher yield? 

Fixed deposits are seen as relatively safe options to park our cash as our savings will be insured to up to S$100,000 under the Singapore Deposit Insurance. 

At the same time T-bills and Singapore Savings Bonds are relatively low risk investment options as they are issued by the Singapore government. 

I have also seen questions in the Beansprout community about some products that are not capital guaranteed. Here, it is important to note that they are not capital guaranteed, even if they were to offer guaranteed rates. 

#1 - Cash Management Accounts that offer more liquidity 

Cash management accounts aim to provide higher potential returns compared to savings accounts, and greater flexibility compared to fixed deposits.

Some examples of cash management accounts include Longbridge Cash Plus, Moomoo Cash Plus, Webull Moneybull, Tiger Vault, Syfe Cash+ Flexi, Endowus Cash Smart, Mari Invest and Phillip Smart Park 

By putting your money in a cash management account, you will be investing in money market funds or bond funds.

The indicative 7-day annualised yield of the Fullerton SGD Cash Fund was around 1.15% p.a. as of 18 June 2026. 

Learn more about the Fullerton SGD Cash Fund here. 

These professionally managed funds will put your cash in instruments such as bank deposits or short-term debt to earn higher interest rates.

However, it is worth pointing out that these funds are not capital guaranteed, and funds in cash management accounts are not insured under Singapore Deposit Insurance Corporation Limited (SDIC).

Longbridge is running a promotion offering 5% p.a. interest boost on S$4,000 with Longbridge Cash Plus for 180 days (worth up to S$200). Also, get a free S$50 Fairprice voucher within 5 working days when you sign up for a Longbridge account via Beansprout. Promo ends on 30 June 2026. Learn more about the Longbridge promo here.

#2 – Cash Management Accounts with guaranteed rates

Some robo-advisors have also introduced cash management solutions that offer guaranteed rates. They generate the returns by investing your funds into fixed deposits products provided by banks in Singapore.

For example, Syfe Cash+ Guaranteed is the cash management solution offered by Syfe which offers investors guaranteed rates for their idle cash. Syfe Cash+ Guaranteed offers a guaranteed rate of 1.10% per annum for a term of 6 months as of 18 June 2026. Learn more about Syfe Cash+ Guaranteed here. 

#3 – US dollar denominated options to park your cash 

If you have idle cash denominated in US dollars, you can also consider the following options to earn a higher yield compared to the T-bill.

However, if you are converting from SGD to USD,  you should be aware of the foreign currency exchange risks. This is because the US dollar could weaken against the Singapore dollar. 

You can track the USD/SGD exchange rate here.

USD Fixed Deposits

• The best 3-month US Dollar fixed deposit rate 3.70% p.a. offered by ICBC and Bank of China, for a minimum deposit of US$5,000 and US$2,000 respectively.
• The best 6-month US Dollar fixed deposit rate is 3.80% p.a. offered by ICBC and Bank of China, for a minimum deposit of US$5,000 and US$2,000 respectively.
• The best 9-month US Dollar fixed deposit rate is 3.90% p.a. offered by Bank of China, for a minimum deposit of US$2,000.
• The best 12-month US Dollar fixed deposit rate is 3.85% p.a. offered by ICBC, for a minimum deposit of US$5,000.

You can check out the best USD fixed deposit interest rates in Singapore here.

US Treasuries 

US Treasuries are debt securities issued by the US Department of the Treasury, just like the Singapore T-bills are backed by the Singapore government. 

The US 1-year Treasury yield was at 3.96% on 17 June 2026, after climbing in recent weeks as the Fed signalled that interest rates may stay higher for longer in 2026.

You can purchase US Treasuries using either Moomoo Singapore, Webull Singapore or Tiger Brokers. 

USD Money Market Funds

Some of the cash management accounts also allow us to invest in money market funds denominated in US dollars. 

For example, Moomoo Cash Plus, Longbridge Cash Plus, Tiger Vault, Webull Moneybull allow for investments in USD money market funds.

Longbridge is running a promotion offering 5% p.a. interest boost on S$4,000 with Longbridge Cash Plus for 180 days (worth up to S$200). Also, get a free S$50 Fairprice voucher within 5 working days when you sign up for a Longbridge account via Beansprout. Promo ends on 30 June 2026. Learn more about the Longbridge promo here.

Learn more about investing in money market funds here.

What to consider when choosing between T-bills vs fixed deposits vs SSB vs money market funds? 

There are 4 questions I would think about when considering these options.

• Am I comfortable with a product that is not insured by SDIC or backed by the Singapore government?

If I prefer an SDIC insured product, then I would stick to savings accounts and fixed deposits. 

• Will I need the money on short notice? 

If liquidity is of importance, as I may need the cash for other uses in short notice, then I may prefer savings accounts where I can have instant withdrawals. 

• Do I want to lock in the yields for a longer time period?

If I am looking to lock in the current high interest rates for a period of up to 10 years and not have to worry about reinvestment risks, then the Singapore Savings Bonds allow me to do so while having the flexibility to redeem anytime.

• Do I have any use for the cash in US dollars?

If I am looking to invest in US stocks or ETFs or have other uses of US dollars, then I may consider the US dollar denominated fixed deposits, money market funds or Treasuries. 

Otherwise, I may face foreign currency risks when converting the money back into Singapore dollar in future. 

What would Beansprout do? 

Lately, I’ve been thinking more about how to structure my cash so I’m prepared for unexpected needs while keeping it readily accessible when required.

A key priority is ensuring that my liquidity pot holds enough cash to cover unexpected expenses and short-term commitments.

For this cash, I would not look at yield alone.

I would consider splitting it across a mix of savings accounts, fixed deposits, T-bills, SSBs, and money market funds, depending on when I may need the money, how much flexibility I want, and whether I am comfortable locking in the rate.

In June, fixed deposits look slightly more attractive than T-bills for shorter tenures, as the best 6-month fixed deposit rate of 1.50% p.a. is just above the latest 6-month T-bill yield of 1.47%.

For a longer horizon, the 12-month fixed deposit rate of 1.60% p.a. from GXS may be worth considering if I am comfortable setting aside the cash for one year.

I would still consider the Singapore Savings Bond for cash that I may not need immediately, as the latest SSB offers a 10-year average return of 2.11% while still giving me the flexibility to redeem early.

For cash that I may need at short notice, I would keep part of it in a savings account.

If I want a fuss-free option with fewer conditions, UOB Stash Account offers up to 1.50% p.a. on the first S$100,000, while SingFinance GoSaver offers up to 1.30% p.a. on the first S$100,000.

If I have fresh funds that I do not need immediately, I would also compare promotional savings options such as the OCBC Statement Savings promotion, which offers 1.50% p.a. on eligible fresh funds maintained for about 5 months, or the UOB Stack Your Cash promotion, where funds are earmarked for about 7 months.

If I can meet salary crediting, saving and spending requirements, OCBC 360 Account may offer a higher return of up to 1.95% p.a. on the first S$100,000.

For those who use DBS as their main bank, DBS Multiplier Account may also be worth considering if they can meet the salary, card spend and home loan requirements.

For more liquidity than T-bills or fixed deposits, I would also consider money market funds, while remembering that they are not capital guaranteed and are not insured under SDIC.

Longbridge is running a promotion offering 5% p.a. interest boost on S$4,000 with Longbridge Cash Plus for 180 days (worth up to S$200). Also, get a free S$50 Fairprice voucher within 5 working days when you sign up for a Longbridge account via Beansprout. Plus, chances to win S$200 CapitaVouchers and weekly S$100 Matchday Care Packs in June 2026. Promo ends on 30 June 2026. Learn more about the Longbridge promo here.

If I already hold US dollars, I may also look at US dollar fixed deposits, US Treasuries or USD money market funds, as yields remain higher than SGD cash options.

However, I would be careful about converting SGD into USD just to earn a higher yield, as foreign exchange movements could offset the additional interest earned.

When my liquidity pot is properly set up, I know I can ride through market volatility without being forced to sell my investments at the wrong time. Learn more about the liquidity pot here.

Do you prefer to park your cash in T-bills, SSB or fixed deposits? Share with us in the comments below or in our Telegram group!

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