Slight dip in CPF interest rate to 4.05% for Special, MediSave and Retirement accounts in Q2

SINGAPORE – The interest rate for the Special, MediSave and Retirement accounts of Central Provident Fund members for the period between April 1 and June 30 has been set at 4.05 per cent a year.The CPF Board and Housing Board said in a joint statement on March 12 that the interest rate of the three accounts, which is pegged to the 12-month average of 10-year Singapore Government Securities plus 1 per cent, exceeded the floor rate of 4 per cent.

The interest rate for Ordinary Account savings remains unchanged at 2.5 per cent for the second quarter of 2024. The concessionary interest rate for HDB housing loans, which is pegged at 0.1 per cent above the OA interest rate, will remain unchanged at 2.6 per cent a year from April 1 to June 30.

Loans Loans Latest News, Loans Loans Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Budget 2024: CPF Special Account closure at age 55 removes overlap, stops 'shielding' hackRemoving the Central Provident Fund (CPF) Special Account for those aged 55 and above will "tidy up" the system and also shut down a little-used "shielding" hack that allowed some CPF members to earn a higher interest, financial experts said.
Source: TODAYonline - 🏆 1. / 99 Read more »

Explainer: Why is interest on Retirement Accounts not accrued once CPF Life payouts start, and how much will your family get when you die?SINGAPORE — A recent parliamentary debate has thrust the Central Provident Fund (CPF) Life annuity scheme under the spotlight, with one Member of Parliament (MP) highlighting that when CPF members under the scheme die, the interest earned in their Retirement Accounts do not go to their beneficiaries.
Source: TODAYonline - 🏆 1. / 99 Read more »