I received DBS FD promo today. New promo code, so I guess it's another campaign: https://forum.lowyat.net/index.php?showtopi...ost&p=105950711

Anyway, I bid 4.35% p.a., pity those Sporeans...

You can look up MAS official website for info on SG T-bills: https://www.mas.gov.sg/bonds-and-bills/Sing...for-Individuals
Reddevil has his own version on HWZ, which is easier for you to understand: https://forums.hardwarezone.com.sg/threads/...-bills.6769601/

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The bill (Technically, <1 year maturity = bill, 2-10 year = note, >10 year = bond) is issued at discount to par value of 1000 SGD. So, you pay in multiples of 1000 SGD to MAS, MAS refund the discount to you, and at maturity, MAS return you the multiples of 1000 SGD you paid earlier. 3 cashflows involved.

The bidding process is called "uniform price auction". There are 2 ways you can purchase the T-bill. Non-competitive bid vs competitive bid.

Reddevil summarized those 2 processes in his post.
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Use non-competitive bid if you really want those T-bills regardless of what yield is given. Use competitive bid (i.e., you need to enter a bid yield) to ensure a minimum floor which means you won't accept any yield below your stipulated bid yield.

You will need a CDP-linked bank account with DBS, UOB and OCBC plus a CDP account in Singapore in order to be able to purchase T-bills or SSBs.

Wow, did not expect this at all.
Luckily placed one bid to try my luck but most of it already put it in CIMB SG FD.