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I shared in my last blog that my plan was to keep buying 6 months T-bills every month with cash on hand till April this year.
Why April?
That's when the T-bills I bought in October last year mature.
Then, I would just recycle money from each maturing T-bill into new ones.
Another perpetual passive income generator for me or so I thought?
Well, there is a change of plan.
Yes, it seems like the plan to buy T-bills in February has been sunk.
How come like that?
To put it simply, I have run out of money.
Yes, doesn't sound too auspicious to say something like this during Chinese New Year but it is the truth.
In my most recent blog, I shared the promotion code for DBS 5 months 3.9% p.a. fixed deposit.
Minimum $20K deposit.
The promotion code just popped when I logged into the DBS phone app.
As an earlier promotion expired very quickly before, I was very fast to share the latest promotion code.
I hope it works for everyone.
I took advantage of the promotion too, of course.
That promotion got me curious and I decided to check UOB and OCBC for fixed deposit promotions too.
OMG!
OCBC is offering 4.08% p.a. for an 8 months fixed deposit!
Minimum $20K deposit.
This is only for OCBC 360 account holders.
What to do?
I couldn't resist it.
With this latest fixed deposit placement, I don't have much cash on hand left.
So, no T-bills next month in February for me.
This is probably not a bad thing as the yield for T-bills has been on the decline.
To be fair, 3.87% p.a. for a one year T-bill isn't terrible if we are using CPF-OA money.
However, if we are using cash, fixed deposits with higher interest rates are better options.
I said in my last blog that I was aware that CIMB offers 4% p.a. for a 6 months fixed deposit.
However, I only consider DBS, OCBC and UOB to be as relatively risk free as T-bills.
Having said this, I do have many fixed deposits with CIMB but I am not too comfortable with placing many more.
Just talking to myself, as usual, of course.
Remember, AK is mental.
Huat ah!
Reference:
CPF-OA in T-bill. DBS 3.9% p.a. 5 months FD promo code.
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