SINGAPORE: Central Provident Fund (CPF) members will continue to earn interest rates of 2.5 per cent per annum on their Ordinary Account (OA), and 4 per cent per annum on their Special and Medisave accounts (SMA) between Apr 1 and Jun 30.
The interest rate for HDB mortgage loans - pegged at 0.1 per cent above the OA interest rate - will therefore remain unchanged at 2.6 per cent per annum for the same period.
AdvertisementThe CPF Board and the Housing and Development Board announced the rates in a joint release on Wednesday (Feb 20).
[h=3]READ: CPF Board can do better in communicating messages on payouts - Josephine Teo[/h]Additional 1 per cent interest will continue to be paid on the first S$60,000 of their combined balances, earning CPF members up to 3.5 per cent on their OA and 5 per cent per annum on their SMA.
CPF members aged 55 and above will also continue to get 1 per cent extra interest on the first S$30,000 of their combined balances, giving them up to 6 per cent interest per year on their retirement balances.
AdvertisementAdvertisementAs announced last September, the interest rate for the Retirement Account in 2019 is 4 per cent.
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