There have been calls to allow CPF members to submit applications for T-bills online following long queues at branches of the three local banks – DBS, OCBC and UOB. The bank has said it is looking at extending the service to SA funds and will also allow mobile applications soon. In the most recent T-bill auction last Thursday, DBS said nine in 10 T-bill applications were made online using CPF funds.
In January, DBS customers were the first to go online to apply for T-bills using their CPF OA savings. He noted that T-bill applications at its branches have slowed in recent weeks. Mr Benny Chan, managing director of group channels and digitalisation at UOB, said the bank has received feedback and is enhancing its digital platforms to enable customers to apply for T-bills online with their CPF funds “in the near future”.
