CPF Easy Info Thread. :)

[dork32]

noticed i used the word "may lose 2 months". they say ocbc is ok. dbs is no good. but looks like they will change. uob got no news.

 

[reddevil0728]

noticed i used the word "may lose 2 months". they say ocbc is ok. dbs is no good. but looks like they will change. uob got no news.

someone shared a facebook post about uob being same about ocbc

 

[henrylbh]

you are right. getting tbills is not confirmed.

you heard what they say about ocbc? they say they will deduct the amount only if you kena. so there is no losses if you did not kena.

When you dumping half a million or more, you don't just heard whey they say, if you are not amateur.

I am using uob, a few calls and officers got to check to return calls to confirm answers and still give no confidence whether deduction is made on application date, auction date or issue date. Questioned on when incoming fund sitting in CPFIA will automatically transfer back to CPF, they gave conflicting answers. I told them to be dead sure in their answers as dork is investing not 1,000 or 50,000 but half a million or more They say they will call back In my previous calls to them, because of oversight, they appeased me with $50 dairy farm vouchers.

comp bid at 2.95% seems a good choice. quite like you will get it. 2.95% will prevent losses due to some very low and undesirable rates. i am quite certain that the rate will be higher than 2.95%.

You not amateur saying 2.95% seems a good choice, without caveat emptor. That's fallacious and may injure those who are amateur and accept face value and jump into tbills offering as anything above 2.95% tbills as it seems a good choice

Already mentioned that even at 3.32% (current issue) which appears more appealing to many and tempting me to empty my OA, there will be a loss at the end of the day if there is loss of interest in the month of application and in the month of maturity.

 

[henrylbh]

29 sep is a bad date to bid using cpf. you are right. you go in this one you may lose 2 months of interest. but there are tbills every two weeks, just wait for the next one.

When buying towards end of the month with CPF funds especially, one got to be certain in case one falls on the side.

i want to go in the 1 year t bill. i am going in with my oa in mid oct. that one is much better for me. i lose 1 month of interest for 12 months of tbills interest instead of 6 months.. the loss is even smaller.

Where you get info that there is coming issuance in mid oct? Most look like last week of the month.

https://www.mas.gov.sg/bonds-and-bills/auctions-and-issuance-calendar

 

[dork32]

I am using ocbc, a few calls and officers got to check to return calls to confirm answers and still give no confidence whether deduction is made on application date, auction date or issue date. Questioned on when incoming fund sitting in CPFIA will automatically transfer back to CPF, they gave conflicting answers. I told them to be dead sure in their answers as dork is investing not 1,000 or 50,000 but half a million or more They say they will call back

if until now, you will want to believe what a pinoy teller gal say, good for you. you should know by now that there are so many products with ocbc. most of the teller have no clue what these products are about. they just piang some answers for you. you put pressure on them, they panic. this is why i ask you to go next round. it does not matter which date they deduct your purchase.

 

[dork32]

When buying towards end of the month with CPF funds especially, one got to be certain in case one falls on the side.

Where you get info that there is coming issuance in mid oct? Most look like last week of the month.

https://www.mas.gov.sg/bonds-and-bills/auctions-and-issuance-calendar

uncle, you looking at sgs bonds, you must click the tbills

 

[dork32]

You not amateur saying 2.95% seems a good choice, without caveat emptor. That's fallacious and may injure those who are amateur and accept face value and jump into tbills offering as anything above 2.95% tbills as it seems a good choice

Already mentioned that even at 3.32% (current issue) which appears more appealing to many and tempting me to empty my OA, there will be a loss at the end of the day if there is loss of interest in the month of application and in the month of maturity.

Yes, bidding at 2.95 is a good move for 1 year tbills especially using oa with the uncertainty floating around.

2.95 is bigger than the 2.7 breakeven. it will give you at least 0.2% above what you earn in cpf. it protects you against freak bidding results

you do not want to bid too high. there is chance that you do not get. if it is like dbs, they deduct your cpf on your bidding day, then you lose 1 month of interest, at 500k, 1 month of interest is a lot of money.

 

[dork32]

henry, the way you post, it confirms that you are an amateur at tbills. the good thing is that you are willing to learn.

you are also right that you do not believe whatever dork says wholesale. coz dork could be just a monkey posting rubbish here. you went to ocbc and mas site to confirm. this is the right move.

i do not claim to be a pro. i have gotten tbills thru srs and cash. i am still uncertain how the banks work on cpf. it is until i am sure how the banks work that i have all the knowledge. Even so, i may not be pro enuf to predict the bidding results.

 

[henrylbh]

uncle, you looking at sgs bonds, you must click the tbills

Thanks for the info.

 

[henrylbh]

henry, the way you post, it confirms that you are an amateur at tbills. the good thing is that you are willing to learn.

you are also right that you do not believe whatever dork says wholesale. coz dork could be just a monkey posting rubbish here. you went to ocbc and mas site to confirm. this is the right move.

i do not claim to be a pro. i have gotten tbills thru srs and cash. i am still uncertain how the banks work on cpf. it is until i am sure how the banks work that i have all the knowledge. Even so, i may not be pro enuf to predict the bidding results.

Already told you I am amateur. I don't bother with bills and bonds until dork said 2.7% or 2.95% seems a good move. Alas dork was wrong with respect to the current issue with 3.32%. I never look into bills and bonds vis-a-vis my OA until now when the yield starts creeping up, though still not attractive enough to bank my OA.

if until now, you will want to believe what a pinoy teller gal say, good for you. you should know by now that there are so many products with ocbc. most of the teller have no clue what these products are about. they just piang some answers for you. you put pressure on them, they panic. this is why i ask you to go next round. it does not matter which date they deduct your purchase.

I corrected my post. I am using uob, not ocbc as posted. The staff all about the same. When pressed for definite answer, they need to check and call back. Tell them don't bother but get someone who is sure to return call. Yet the person who got the answer still need to call back when pressed. Pressing is tiring and waste of time especially as time is important when decision got to be made urgently.

 

[dork32]

Already told you I am amateur. I don't bother with bills and bonds until dork said 2.7% or 2.95% seems a good move. Alas dork was wrong with respect to the current issue with 3.32%. I never look into bills and bonds vis-a-vis my OA until now when the yield starts creeping up, though still not attractive enough to bank my OA.

like dork say, henry is an amatuer. you are not not aware of how the bidding process works.

first it is 3.32 for the previous tranche. for the next tranche, nobody here can give you an exact number. it is like no one can tell the the exact number for the next bidding of coe. but the guess is that it is not going to be too different.

the bidding mechanism is as described below.

in tbills bidding, if dork put 2.95%, henry put 3.32%,
if bidding results is 3.5, dork get 3.5, henry get 3.5
if bidding results is 3.2, dork get 3.2, henry suck thumb
if results is 2.5, both dork and henry suck thumb.

this is like coe, if dork put 120k, henry put 110k
if results is 100k, both get coe at 100k
if result 115k, dork drive new car with 115k coe, henry ride bicycle
if result is 125k, both take mrt
i must add that coe is now open bidding and tbills is closed. if henry not happy to ride bicycle at 115k coe, henry can always up his bid to 116k so that he can drive a new car. in tbills, you cannot change your bid.

i say this again. when you bid, you do not try to guess what the bidding results is. you put in the number that you do not want if the yield drops below that number. dork put 2.95% coz if the rate is 2.94, dork prefer to put the money in the oa. same like if the coe is 121k, dork might as well take mrt

 

[dork32]

Last Monday I visited OCBC branch to ask about T-Bill application using CPF, wanting to confirm how much the bank fees are for it and when/how they deduct the funds. The staff wasn't able to answer even after asking around, but she did write down the questions and promised to get back to me within two working days.

Fast forward to today when she finally calls me with the answer... there are no bank fees for T-Bills using CPF.
Me: That can't be right. Other people have reported paying fees for their T-Bill application using CPF when applied through OCBC.
Her: There are no bank fees. That's the official statement.
Me: This is for CPFIS. There are fees.
Her: I made sure to stress that it's for CPFIS in my question to the relevant department. There are no fees. Maybe the fees are being charged elsewhere?
Me: UOB charges $2 and DBS charges $2.50 for the application. No way OCBC charges $0. What about the $2 quaterly fees?
Her: We don't charge that either.
Me: Other people have reported paying these fees to OCBC.
Her: We have gotten no complaints from customers.
Me: That's because they would have expected to pay fees.

Didn't bother asking her for the answers to my other questions since this first answer was already flat out wrong. Shocking how ill-informed banks are.

hi henry, see the answers you get when you tok to the bank people. many of them are like civil servants, juz know how to collect salary

at least this guy managed to get the girl to call back.

 

[henrylbh]

like dork say, henry is an amatuer. you are not not aware of how the bidding process works.

first it is 3.32 for the previous tranche. for the next tranche, nobody here can give you an exact number. it is like no one can tell the the exact number for the next bidding of coe. but the guess is that it is not going to be too different.

the bidding mechanism is as described below.

in tbills bidding, if dork put 2.95%, henry put 3.32%,
if bidding results is 3.5, dork get 3.5, henry get 3.5
if bidding results is 3.2, dork get 3.2, henry suck thumb
if results is 2.5, both dork and henry suck thumb.

this is like coe, if dork put 120k, henry put 110k
if results is 100k, both get coe at 100k
if result 115k, dork drive new car with 115k coe, henry ride bicycle
if result is 125k, both take mrt
i must add that coe is now open bidding and tbills is closed. if henry not happy to ride bicycle at 115k coe, henry can always up his bid to 116k so that he can drive a new car. in tbills, you cannot change your bid.

Only dork knows and assuming henry don't know about bidding mechanism and that 3.32% was the previous issue to take into account in the current bidding. What a joke. You not amateur can say anything like it seems a good move to the detriment of others who are not familiar. I not interested in them because the yield on the face of it is simply not attractive enough to waste or bother my time. Not attractive even at 3.5% to bank my OA unless I do it temporary to shield my OA from going to RA or to withdraw OA in lieu of SA, if FRS is met.

 

[henrylbh]

hi henry, see the answers you get when you tok to the bank people. many of them are like civil servants, juz know how to collect salary

at least this guy managed to get the girl to call back

The staff in most cases not able to handle anything that's more than simple. He asked when will deduction of CPF take place. But it seems he never knew that on maturity the fund will land in CPFIA, not CPF, and can sit there as long as two months before auto transfer to CPF.

They can cause financial loss as in my case when the agent bank compensated me with $50 voucher. Even $50 isn't enough but I get tired pressing them and asking for email to no avail to place on record as the misstep is bound to happen again.

 

[dork32]

Only dork knows and assuming henry don't know about bidding mechanism and that 3.32% was the previous issue to take into account in the current bidding. What a joke. You not amateur can say anything like it seems a good move to the detriment of others who are not familiar. I not interested in them because the yield on the face of it is simply not attractive enough to waste or bother my time. Not attractive even at 3.5% to bank my OA unless I do it temporary to shield my OA from going to RA or to withdraw OA in lieu of SA, if FRS is met.

this post is total rubbish.

you not interested in 3.5% tbills, but you interested in oa 2.5%?

shielding protects your oa from being transferred to ra. you use cash with is earning less interest to put into your ra. but now your cash is earning 3.5% with tbills, why bother to shield your oa?

 

[henrylbh]

I only suck thumb when I click buy when I wanted to sell or vice versa. TG, in most cases I gain.

 

[henrylbh]

this post is total rubbish.

you not interested in 3.5% tbills, but you interested in oa 2.5%?

shielding protects your oa from being transferred to ra. you use cash with is earning less interest to put into your ra. but now your cash is earning 3.5% with tbills, why bother to shield your oa?

Rubbish to not amateur, but not to me. I am looking for better alternatives and I have purpose for withholding OA, not to be disclosed. 3.5% is not enticing for the moment.

 

[Geralt]

The staff in most cases not able to handle anything that's more than simple. He asked when will deduction of CPF take place. But it seems he never knew that on maturity the fund will land in CPFIA, not CPF, and can sit there as long as two months before auto transfer to CPF.

They can cause financial loss as in my case when the agent bank compensated me with $50 voucher. Even $50 isn't enough but I get tired pressing them and asking for email to no avail to place on record as the misstep is bound to happen again.

I'm well aware that the funds will land in CPFIA, as I saw the refund land in CPFIA the day after auction and transferred it myself two days later. There was no point in asking bank staff about something that I already knew about.

 

[item2sell]

Rubbish to not amateur, but not to me. I am looking for better alternatives and I have purpose for withholding OA, not to be disclosed. 3.5% is not enticing for the moment.

if you have specific purpose for your OA and you need the funds for the next few months, even 20%pa is not enticing for you.

For the majority of the people, who have no other OA usage, 3.5% is a good rate compared to 2.5%.

 

[henrylbh]

I'm well aware that the funds will land in CPFIA, as I saw the refund land in CPFIA the day after auction and transferred it myself two days later. There was no point in asking bank staff about something that I already knew about.

Are aware not to self transfer regardless of the day in a month?