T-bill or DBS, OCBC and UOB? 3.7% or 6% p.a.?
By A Singaporean Stockmarket Investor (ASSI)  •  September 17, 2023
I received an SMS from CPF that went: "You have a CPFIS investment deduction from your Ordinary Account." I suppose this means that my competitive bid (using CPF-OA money) for the last 6 months T-bill auction that took place on 14 September was successful. A quick check revealed that the cut-off yield was 3.73% p.a. and this is still relatively attractive.     This is relatively attractive when our local banks are offering much lower interest rates for 6 months fixed deposits. Definitely, it is more attractive than the 2.5% p.a. offered by CPF-OA even when accounting for a loss of 7 months worth of interest income which would have been paid by CPF. Why 7 months? This is due to how CPF calculates and pays interest on our CPF savings, taking only the month-end balance into consideration. So, all three of my applications using cash on hand, SRS and CPF-OA money were successful. I find it strange that there seems to be less interest...
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By A Singaporean Stockmarket Investor (ASSI)
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