In an earlier post, I mentioned that I am sitting on a lot of USDC. I have since withdraw some of those out to my bank account. I have some parked in TIGER to DCA into SPY. And the rest were idling doing nothing like a lazy bum.

Then I found out that DBS has very attractive rates for USD Fixed Deposits.

I am sure other banks might have better rates than DBS, but it’s just more convenient for me to use DBS. And I can do it all in a matter of less than 5 mins using my DBS mobile app.

In order to buy into the Fixed Deposit, you need to have a Fixed Deposit account, which you will be prompted to open one if you don’t have. And it gets approved almost immediately.

Once you have your FD account, you can then proceed to make your lazy USD work harder.

I went with the 1 month tenor because I prefer to have the flexibility over locking my funds for 12 months.

You can set what you want to do with the money upon maturity. And of course you can change the instructions any time.

By the way, these rates are so much higher than on chain rates with your USDC. So if you have a lot of USDC on chain, maybe can reconsider with the banks.

As always, None of the content that I write on this site should be taken as financial advice.