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 Treasury Bills.
My previous application of the 1 year T-Bill BY24103N was unsuccessful as my competitive bid of 3.0% falls way short of the cut-off yield of 2.71%.
As the latest tranche of T-Bill will close on 23 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 6 months tenor, fully backed by the Singapore government and having an AAA credit rating.
The issue date is on 29 Oct 2024 and maturity date is on 29 Apr 2025. Results will be out on 24 Oct 2024, 1pm.
There it goes.
There is no admin fee for internet banking applications unlike SSB.
Again, I am trying my luck with a competitive bid of 3.08% p.a. with a pinch of salt as I believe this round of application may have a cutoff below 3%. 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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