Fixed deposit using CPF-IS

I have some funds in CPF-OA that I won't be using anytime soon for housing and I'm thinking of putting in fixed deposit. I read online that need to apply at the bank in person. Anyone has done it recently and knows which bank offers FD for CPF?

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Benjamin Low

25 Jan 2023

Associate Director of Sales at Manulife Financial Advisers

Yes, you are correct that in order to place your CPF funds into a fixed deposit, you will need to visit a participating bank in person and apply for the fixed deposit with your CPF funds.

Currently, the participating banks in Singapore that offer fixed deposit placement for CPF funds are:

DBS Bank
OCBC Bank
UOB
Maybank
Standard Chartered Bank

But this is based on my limited knowledge of banks and it may have changed.

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Billy

08 Jan 2023

Development & Acquisitions Manager at Real Estate Private Equity

You can apply for T-bills using your CPF-IS funds! I think its far more short-term and the interest rates are pretty good these days too, minimally 4.2% interest. But indeed as per CPF board, https://www.cpf.gov.sg/member/faq/growing-your-... all banks still require in-person applications for any transactions relating to CPF-IS

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