CPF T-Bill Calculator – Singapore

Use this Singapore T-bill calculator to estimate how much more interest you can potentially earn by investing your CPF-OA into T-bill.
Select T-bill maturity.
You must select the T-bill maturity.
Amount of money you want to invest initially.
Investment amount should be between 0 and 10 million.
Your expected cut-off yield for this T-bill auction.
Cut-off yield should be between 0% and 7%.

Note for this Singapore T-bill calculator:

  • The estimate is based on several assumptions: a 2.5% interest rate on CPF-OA, 9% GST, fund deducted one day after the auction date, fund returned up to seven days after maturity, application fee of $2.50 + GST, and admin fee of $2.00 + GST per quarter.
  • The estimated additional interest amount is just an estimate for illustration purposes only. The actual interest may differ based on various factors, such as differing processing times or fees.
  • Please make sure you understand how T-bills work before investing. The information provided here is not intended to be and does not constitute financial advice, investment advice, trading advice, or any other advice or recommendation of any sort.


What Does This CPF T-Bill Calculator Calculate?

This CPF T-bill calculator estimates how much more interest you can potentially earn by investing your CPF-OA into Singapore T-bills. We use the recent and upcoming T-bill data to estimate the calculation.

Please note that when investing your CPF-OA, you will not be earning any CPF interest in the month when the amount is withdrawn and when the amount is returned after maturity. Therefore, you can expect to lose at least 1 or 2 additional months of CPF interest. Generally, the interest rate offered by the T-bill should be much higher for this CPF-OA investment to break even. Because of this complexity, we created the calculator above to simplify estimating the amount for the upcoming T-bill auction.


Why Invest CPF-OA Into T-Bill?

Your CPF-OA money is already earning a guaranteed 2.5% per annum. However, if you do not plan to use your CPF-OA in the short term, why not try to earn higher interest from T-bill?

T-bill is a short-term 6-month or 1-year Singapore government bond. It is guaranteed by the credit faith of the Singapore government, which holds the highest credit rating from all major rating agencies. Therefore, it is considered one of the safest investment instruments in the market.

Because of the recent string of benchmark interest rate hikes, the current T-bill interest rate is higher than in recent history. The chart below shows the details. This is your opportunity to enjoy a fuss-free way to earn additional interest from your idle CPF-OA without taking much risk.


Singapore T-bills Interest Rates History

Here are the historical 6-month T-bills interest rates:

Source: MAS

You may check our coverage of the Singapore T-bill interest rates for more details on the historical T-bill interest rates.

If you are interested in applying for T-bills, you may follow our guide on how to buy T-bills.