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The latest 6 months T-bill gives us a cut-off yield of 4.07% p.a.
Yes, AK stunned like vegetable!
I was expecting 3.75% p.a. thereabouts!
Pleasantly surprised!
The narrative that interest rates will stay higher for longer might be true, after all.
Don't know how much longer this situation is going to last but I will just make hay while the Sun shines.
To be sure, I am also doing this while waiting for Mr. Market to go into a depression.
It is bound to happen.
So, it is not going to be if Mr. Market goes into a depression but when Mr. Market goes into a depression.
I want to be prepared when that happens.
It could happen next year or the year after that or it could happen before this year ends.
There are so many different opinions from so many experts that I have decided to stop listening a long time ago.
All I know is that if I am prepared, I will do OK.
With my OCBC fixed deposits which paid 4.08% p.a. maturing this month and next month, I am rolling most of the funds into new fixed deposits with with CIMB.
Not as high as 4.08% p.a. but higher than the 2.7% p.a. offered by OCBC.
I am using a portion of the funds to strengthen my T-bill ladder too which will pay me every 2 weeks.
Fortunately, I did that for the recent T-bill auction too.
My non-competitve bids were fully allotted!
4.07% p.a.
AK is giddy with joy!
Always ready, surely, it is good to be paid while I wait.
If AK can do it, so can you!
Bloggy Award
16 comments:
Hi AK! won't leaving it in a CIMB StarSavers program be just as good as an FD since the rates are the same? https://www.cimb.com.sg/en/personal/banking-with-us/accounts/savings-accounts/cimb-starsaver-savings-account.html
It is giving 3.5% as well
Hi gagmewithaspoon,
I didn't know about this!
I was under the impression that the interest rates are tiered
First S$100,000 1.50%
Next S$150,000 2.50%
Above S$250,000 3.50%
Alamak! AK lost 0.05% p.a. in interest. (TmT)
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I went and read up on the promotion.
Apparently, it is for new customers.
For existing customers, it has to be incremental funds.
Need some planning. ;p
Thanks for letting me know. :D
Could this mean CIMB FD interest rates may be revised upwards as well ?
Gong xi gong xi, I missed the boat this time round, as I was waiting for my OCBC deposit which will only mature next week.
Aargh!
Hi C,
It could happen. :)
Only CIMB knows for sure, of course. ;p
Hi Yv,
Crossing fingers that the next T-bill auction is just as stunning.
I have OCBC FDs maturing next month too. :)
Hi AK,
MY OCBC FD is also expiring in Oct.
Have invested mainly in REITs. With a market depression due to come, would it be advisable to target bank stocks then, like you did in recent times? :)
Thank you.
Hi Ace,
Unfortunately, I am not allowed to give advice and I don't want to either. ;p
However, you might want to watch my recent YouTube videos, and I will also be producing one video specifically on investing in banks later in the week.
Look out for it since you are interested in this topic. ;)
Hello AK. SSB 10 year average 3.32%!
Hi HH,
Yeah, I saw! :D
Would have to blog about this later. ;p
What happens if I place a high competitive bid of 4.03 % (6-mth) T-bills using CPF ? Lol
Hi C,
Competitive bidding is really to protect ourselves.
So, if you decide that a 4.03% p.a. cut-off yield is the minimum you can accept for whatever reason, then, place a competitive bid for that. ;)
Jialat.. if I fail to secure bid.. will lose $2.70 admin fee... crossing fingers.. lol
Hi C,
$2.70 is enough for me to have a roti prata and a glass of teh tarik. ;p
Crossing fingers! :D
1) Didn't see $2.70 deducted from my CPF-OA due to my recent unsuccessful 6-mth t-bill bidding...maybe no need pay admin fee if unsuccessful bid ? :-)
2) My next try for 6-mth t-bill using CPF-OA would be for the auction taking place on the 8th November... hopefully no one low ball bid at 2.3% again.. we living in crazy world now.
Hi C,
1. I have not had an unsuccessful bid using CPF-OA money before. So, thanks for sharing this. :D
2. Crossing fingers for the next T-bill auction. ;)
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