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CPF Interest Rates (01 Jul 2009 to 30 Sep 2009)
(reviewed quarterly) |
| Ordinary account |
2.50% p.a. |
| Special, Medisave & Retirement accounts |
4.00% p.a. |
For Ordinary Account (OA), CPF members receive a market-related interest rate based on the 12-month fixed deposit and month-end savings rates of the major local banks.
From 1 January 2008, savings in the Special Account, Medisave Account and Retirement Account (SMRA) is pegged to the 12-month average yield of the 10-year Singapore Government Securities (10YSGS) plus 1%. To help members adjust to the floating SMRA interest rate, a 4% floor for the SMRA rate will be maintained for the first two years (2008 - 2009).
In addition, an extra 1% of interest will be paid on the first $60,000 of a member's combined balances, with up to $20,000 from the OA. The extra interest from the OA will go into the member's Special or Retirement Account to improve his retirement savings.
Under the CPF Act, the Board pays interest at a minimum rate of 2.50% per annum. CPF interest is computed monthly and, compounded and credited annually.
Details on how CPF interest rates are computed can be found in News Releases.
CPF Interest Rates 1955 - 2009 (0.01MB)
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