I have more than $25k of idle funds lying in SRS account earning a meagre 0.05% in the current high interest rate environment.
Great opportunity costs incurred from waiting on the sidelines to add investment for local banks such as OCBC or DBS shares into my ultra long-term SRS portfolio.
The share prices of local banks display no sign of weakening in the short-term hence I decided to deploy the idle SRS funds into either this latest tranche of Treasury Bills.
As the latest tranche of T-Bill will close on 16 Oct 2024, 9pm today, I decided to try my luck to auction for this tranche of T-Bill, a short-term government debt security with 1 year tenor, fully backed by the Singapore government and having an AAA credit rating.
The issue date is on 22 Oct 2024 and maturity date is on 21 Oct 2025. Results will be out on 17 Oct 2024, 1pm.
There it goes.
There is no admin fee for internet banking applications unlike SSB.
Frankly, I am trying my luck with a competitive bid of 3% p.a. with not much confidence in getting it as I believe this round of application may have a cutoff below 3% and there may still be many low-ballers using CPF OA funds. Thus, I am prepared for a failed application, getting back my funds to continue waiting on the sidelines.
Thanks for reading!
With love & peace,
Qiongster
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