T-Bills vs Savings Bonds – Interest Rate Showdown!

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Unlike choosing gf/bf – you can have both!

🇸🇬 #SgFinance: T-Bills vs Savings Bonds – Interest Rate Showdown!

Sick of your savings just chilling? Tired of earning peanuts on your hard-earned cash?

It’s time to level up your short-term savings game with Singapore’s T-Bills and Savings Bonds!

Here’s the latest on interest rates (as of 6 December 2023):

T-Bills:

  • 6-month: 4.00%

  • 1-year: 3.98%

Savings Bonds:

  • Year 1: 0.85%

  • Year 2: 1.20%

  • Year 3: 1.45%

  • Year 4: 1.70%

  • Year 5: 1.95%

  • Year 6: 2.20%

  • Year 7: 2.45%

  • Year 8: 2.70%

  • Year 9: 2.95%

  • Year 10: 3.20%

So, which one wins the interest rate battle?

It’s a close call!

T-Bills offer a higher initial return, especially for the short term. But if you’re looking for long-term growth and the flexibility to access your money anytime, Savings Bonds might be a better bet.

Ultimately, the best option depends on your individual financial goals and risk tolerance.

Here’s a quick cheat sheet:

T-Bills:

  • Pros: Super short-term, discount savings, flexible.

  • Cons: Low returns.

Savings Bonds:

  • Pros: Longer-term, guaranteed returns, flexible withdrawals.

  • Cons: Modest returns.

#SgSavings #InterestRates #TBillTips #ShortTermSavings #FinanceForMillennials #SGFinTech #MoneyMatters

Disclaimer: Uncle Huat have both! 😎

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