Why the % is only determined after closing and not before? Same as horse betting suka yee gong.
Why only 6 mths cannot longer ?
T-bills is based on bidding, like COE. So the rates are determined after bidding.
T-bills got 1-year or 6-months. 4 weeks from now, got 1-year T-bills.
You get interests first for T-bills.
Longer ones are SGS, they don't prepaid you interests like T-bills. Because imagine the SGS is 30 years,
Imagine realDonaldTrump borrows $1000 from you at 4% pa.
4% x 30 years = $1200 to prepaid you if longer tenors work like T-Bills.