You need to be at least 18 years old; not an undischarged bankrupt; and have more than $20,000 in your CPF Ordinary Account (OA). If you meet all of the conditions and would like to start investing your CPF OA savings in T-bills, please take the following steps:

 

Step 1: Complete CPFIS Self-Awareness Questionnaire (SAQ) to assess if CPFIS is suitable for you. You can check your SAQ completion status.

 

Step 2: Open CPF Investment Account (CPFIA) online with any of the three CPFIS agent banks:

1. DBS's digibot (scroll to “Get started with CPFIA” and click “digibot”)
2. OCBC's website or OCBC's mobile app
3. UOB's website

 

Step 3: Invest in the T-bills of your choice. The Government issues 6-months and 1-year T-bills. You can check the MAS website on upcoming T-bills auctions. After deciding, you can use the bank’s online services to apply for T-bills. Refer to How to use your CPF for T-bills.

 

Step 4: Wait for the results of your T-bills purchase, which will be available on auction date. The bank will notify you on the outcome of your T-bills purchase. You can also check the T-bills allotted to you via your CPF Investment Account (CPFIA) online. Your CPF OA would be deducted and transferred to your CPFIA only upon successful allotment of the T-bills. The deducted amount (i.e., initial investment amount) would be lower than the amount which you have been allotted as T-bills are issued at a discount to the face value. Refer to the T-bills FAQs on the MAS website on how to compute your initial investment amount based on cut-off yield (T-bills FAQs > Application of T-bills > “How do I compute my initial investment for my T-bills based on the cut-off yield?”).

 

Step 5: Upon maturity of your T-bills in 6 or 12 months (depending on the type of T-bills that you have purchased), your CPFIS agent bank will credit the proceeds to your IA. You can then take any of the following actions:

 

1. Re-invest in another T-bill purchase or any other investment.

2. If you do not plan to re-invest your CPF OA savings, you can apply to return the balances in the CPFIA to CPF OA to earn the CPF interest. You can do so via your CPFIS agent bank’s ATMs, internet/phone banking or over the bank counter. Click DBS and OCBC’s links to find out more.

3. If you do nothing, the monies in your CPFIA will be automatically returned to your CPF OA, if your CPFIA is inactive for 2 consecutive months.