CPF Account Interest Rate from January to March 2009
Central Provident Fund (CPF) Interest Rate For Ordinary Account (OA) will continue to be 2.50% per annum for members’ CPF savings in their CPF Ordinary Account (OA) from 1 January 2009 to 31 March 2009.
The computed CPF account interest rate taken from major local banks’ interest rates for the three-month period, 1 August 2008 to 31 October 2008, comes out to be 0.74 % per annum.
The higher CPF account rate of 2.50% will be paid as the CPF Act provides for a minimum CPF account interest rate of 2.50% per annum.
CPF account interest rate for Special, Medisave & Retirement Accounts (SMRA) is 4%. This high rate will make your money grow at a faster rate compared to Singapore bank savings account rates.
In addition, an extra 1% interest will be paid on the first $60,000 of a CPF member’s combined balances, with up to $20,000 from the CPF Ordinary Account (OA). The extra interest from the CPF Ordinary Account (OA) will go into the member’s Special or Retirement Account to enhance his retirement savings.
Members with enquiries may call the Central Provident Fund (CPF) Call Centre on 1800-227 1188.
Source: Central Provident Fund Board
Find out how to earn more interest money with non-CPF savings in Singapore Savings Account Rates.
Central Provident Fund (CPF) Interest Rate For Ordinary Account (OA) will continue to be 2.50% per annum for members’ CPF savings in their CPF Ordinary Account (OA) from 1 January 2009 to 31 March 2009.
The computed CPF account interest rate taken from major local banks’ interest rates for the three-month period, 1 August 2008 to 31 October 2008, comes out to be 0.74 % per annum.
The higher CPF account rate of 2.50% will be paid as the CPF Act provides for a minimum CPF account interest rate of 2.50% per annum.
CPF account interest rate for Special, Medisave & Retirement Accounts (SMRA) is 4%. This high rate will make your money grow at a faster rate compared to Singapore bank savings account rates.
In addition, an extra 1% interest will be paid on the first $60,000 of a CPF member’s combined balances, with up to $20,000 from the CPF Ordinary Account (OA). The extra interest from the CPF Ordinary Account (OA) will go into the member’s Special or Retirement Account to enhance his retirement savings.
Members with enquiries may call the Central Provident Fund (CPF) Call Centre on 1800-227 1188.
Source: Central Provident Fund Board
Find out how to earn more interest money with non-CPF savings in Singapore Savings Account Rates.
