Why use SRS for T-bills
The Supplementary Retirement Scheme (SRS) is a voluntary scheme that gives tax relief on contributions. Money often sits in SRS as cash earning very little, so many account holders look for low-risk ways to put it to work.
T-bills are a popular option because they are short-term and government-backed, which suits money you may want to redeploy again in a year or less.
How the application works
You apply using your SRS operator bank's internet banking. The three SRS operators are DBS/POSB, OCBC and UOB. In the investment section you select Singapore Government Securities / T-bills and choose your amount and bid type, just like a cash application.
The key difference is the source and custody of funds: the money comes from your SRS account, and the T-bill is held under SRS rather than in your CDP account.
Points to check
Auction cut-off timings for SRS applications can be slightly earlier than the auction's own closing time, so do not leave it to the last minute.
Because rules and cut-offs are set by each operator and by MAS, confirm the current process with your SRS operator before applying.
Check the latest at the source
Yields, calendars and rules change. Confirm current details on the official Monetary Authority of Singapore (MAS) website before you act.
MAS bonds & bills ↗This guide is general educational information, not financial advice. T-Bills Singapore is independent and not affiliated with MAS, the CPF Board or any bank. Consider your own circumstances and, if in doubt, speak to a licensed financial adviser.
