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Disclaimer: Information provided in the video are not meant to be taken as professional financial advice and are strictly for entertainment purposes only. The content shared is based on the creator’s personal experience and results may vary from each individual’s personal finance situation i.e. DYOR
Applied $10,000 for T-bill Oct 2022 Issue: 4.19% p.a. Applied $10,000 for SSB Nov 2022 issue: 3.21% p.a. Both 100% allotted
Interest payments: T-bills are issued at a discount and investors will receive the full face value at maturity ($208.90 for $10K investment for 6 months), meaning I paid $9,791.10 for a $10,000 T-bill)
SSB interest is paid twice a year. Expected next SSB interest to come in Nov 2022 + 6 months = May 2023
Interest rates: SSB 3% Fixed rate & Announced prior T-bill 4% Wait for Bid results after application closed A competitive bid allows applicants to specify the yield they are willing to accept, while a non-competitive bid is one where investors only specify the amount they want to invest but not the yield. - I chose Non-competitive
Holding period: SSB 10 years annualised 3.21% long term borrowing T-bill only get 4% interest for 6 months, short term Prepare for wedding, housing, renovation, short term saving solutions
Funding: Cash and SRS for Both T-bill can use CPF OA
Application: Both can use internet banking but CPF OA need to go branch
