CPF Rate: Special Medisave Retirement Account

CPF Rate: Special Medisave Retirement Account

Singapore Savings Account Rates presents CPF Rate: Special Medisave Retirement Account.

In your search for CPF Rate: Special Medisave Retirement Account, you have come to the right finance blog for the latest CPF rate updates.

So what are the latest CPF rates other than the Ordinary Account?

CPF Interest Rate for SMA Monies

Since 1 January 2008, savings in the SMA have been invested in Special Government Securities (SSGS) which earn an interest rate pegged to the 12-month average yield of 10-year Singapore Government Securities (10YSGS) plus 1%, adjusted quarterly.

The 12-month average yield of the 10YSGS plus 1% rate worked out to be 3.31% for the period 1 December 2008 to 30 November 2009. Since the interest rate peg for SMA monies is below 4%, the SMA CPF rate interest rate from 1 January 2010 to 31 March 2010 will be maintained at 4%.

CPF Interest Rate for RA Monies

From 1 January 2010, RA savings will be invested in SSGS which earn a fixed coupon equal to the 12-month average yield of the 10YSGS plus 1% at the point of issuance. The interest rate to be credited to the RA will be the weighted average interest of the entire portfolio of these SSGS, and adjusted yearly in January.

Since the interest rate peg for the fixed coupon is below 4%, existing RA savings will be invested in SSGS which earn a fixed coupon of 4% (floor rate). Hence, the CPF rate of RA interest rate from 1 January 2010 to 31 December 2010 will be 4%.

Additional CPF Interest of 1%

An additional 1%CPF rate interest will continue to be paid on the first $60,000 of a member’s combined balances, with up to $20,000 from the Ordinary Account (OA). The additional CPF rate interest received on the OA will go into the member’s SA or RA to enhance his retirement savings. If the member is above 55 years old and participates in the LIFE scheme, the additional CPF rate 1% interest will also apply to his annuity premium, less annuity payouts already made. The additional CPF rate interest earned on the member’s LIFE annuity monies will be paid into his RA.


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Singapore Savings Account Rates.

OCBC Bank Statement Savings Rates Singapore

OCBC Bank Statement Savings Rates Singapore

Singapore Savings Account Rates presents OCBC Bank Statement Savings Rates Singapore on this day in January 2010.

What are the OCBC Bank Statement savings rates?

Before we reveal that, note that statement savings rates are shown for your information. In your investment of cash in stocks, shares, bonds, unit trusts or other banking products, check that you re-confirm the savings account rates with bank.

OCBC Bank Statement Savings Singapore (With / Without Debit Card) Account Rates

Amount | Rate (% p.a.)
First $10000 =0.1250
From $10001 to $50000 =0.1750
From $50001 to $250000 =0.3250
Above $250000 =0.4000

Savings Account rates are subject to change without notice.

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The Team
Singapore Savings Account Rates.