The usual sequence
Each T-bill follows a predictable path: MAS announces the auction (with the amount on offer), an application window opens through the banks, the auction is held, the T-bill is issued on the issue date, and it matures 6 or 12 months later.
The auction closing time is typically a day or two before the issue date, and bank cut-offs for applications are usually a little earlier still.
How often each tenor is auctioned
6-month T-bills are auctioned frequently — historically around every two weeks — so there is usually another one coming soon if you miss one. 1-year T-bills are auctioned much less often, on a quarterly-type cadence.
Because the exact dates change each year, MAS publishes the SGS auction calendar ahead of time. Check it so you can plan around the application windows.
Planning your cash flow
Remember that your funds are committed from application through to maturity. If you are laddering T-bills (buying new ones as old ones mature), the frequent 6-month cadence makes that straightforward.
Always confirm the current calendar and cut-off times on the MAS website and with your bank before you apply.
Check the latest at the source
Yields, calendars and rules change. Confirm current details on the official Monetary Authority of Singapore (MAS) website before you act.
MAS bonds & bills ↗This guide is general educational information, not financial advice. T-Bills Singapore is independent and not affiliated with MAS, the CPF Board or any bank. Consider your own circumstances and, if in doubt, speak to a licensed financial adviser.
