4% p.a. 6 months fixed deposit! T-bill please give way.

One week ago, I blogged about the 6 months T-bill with a yield of 3.9% p.a.

I said that I was disappointed.

However, I was not massively disappointed as 3.9% was still higher than the promotional fixed deposit rates from DBS, UOB and OCBC for a 6 months tenor.

Today, I woke up to a 4% p.a. promotional fixed deposit interest rate for a 6 months tenor!

Granted that it is not from DBS, UOB or OCBC but from CIMB but it is still exciting for me since I have a relationship with CIMB and can place fixed deposits easily using the phone app without having to visit the bank.

Yes, I don't particularly enjoy visiting banks.

Some readers might remember that I said I was leaning towards fixed deposits as long as their promotional interest rates remained relatively high after the last T-bill auction.

Well, 4% p.a. for a 6 months tenor fixed deposit has really done this for me.

Same interest rate as the CPF-SA albeit short term with reinvestment risk as is the case with all fixed deposits (and also T-bills) is good enough for me.

Still remember how the queue lasted for hours all for a 2.6% p.a. promotional fixed deposit interest rate on a 12 months tenor at UOB in September?

Tsk tsk.

Singaporeans so kiasu.

AK is not like that.

AK is very cool.

You believe me or not?

So, Mr. T-bill, please give way to 4% p.a. 6 months fixed deposit.

Thank you very much.

Oh, for those who joined the queue in September for 2.6% p.a. 12 months fixed deposit, CIMB offers 4.2% p.a. for the same tenor now, in case you are interested.

Cheong ah!

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