![]() In addition, from 1 January 2008, the CPF Board will pay an extra interest rate of 1% per annum on the first $60,000 of a CPF member’s combined balances, including up to $20,000 in the OA.įrom 1 July 2010, the first $20,000 in the Ordinary Account and the first $40,000 in the Special Account will not be allowed to be invested under the CPF Investment Scheme ("CPFIS"). Thereafter, interest rates on all CPF account monies will be subject to a minimum rate of 2.5% per annum, as prescribed by the CPF Act. ![]() An announcement was made by the Government in September 2010 to maintain the 4.0% floor rate for the SMRA until 31 December 2011. Under the CPF Act, the CPF Board pays a minimum interest of 2.5% per annum when this interest formula yields a lower rate.įrom, the new interest rate for the Special, Medisave and Retirement Accounts ("SMRA") will be pegged to the yield of 10-year Singapore Government Securities plus 1% or 4%, whichever is higher. The Central Provident Fund ("CPF") interest rate for the Ordinary Account ("OA") is based on the 12-month fixed deposit and month-end savings rates of the major local banks.
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