Dear readers, according to OCBC Fixed Deposit webpage, OCBC is temporarily halting its CPF time deposit offering and will resume its CPF time deposit as soon as they can.
Yes, investing in Fixed Deposit with CPF monies is very common and popular. Under the CPF Investment Scheme (CPFIS), one can invest their CPFs in Fixed Deposits with DBS, OCBC, UOB and MayBank.
OCBC’s Fixed Deposits offering for 6-month holding period is now 3.40%, which has been lowered from 3.50% just at the start of the month.
There seems to be a trend of banks lowering their fixed deposit interest rates. I believe one should secure good high fixed deposits for a longer period of time if one can.
This is why despite the higher yields from Treasury Bills and some short-term fixed deposit, I am always also looking at 10-year Singapore Savings Bonds which still give a decent annual interest rates for now and offers savers to hold up to a 10-year period.
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