• Published Date: 14 May 2015

    CPF INTEREST RATES FROM 1 JULY 2015 TO 30 SEPTEMBER 2015

    • Up to 3.5% per annum* on the Ordinary Account
    • Up to 5% per annum*on the Special and Medisave Accounts
       

    HDB MORTGAGE RATE FROM 1 JULY 2015 TO 30 SEPTEMBER 2015

    • Remains unchanged at 2.6% per annum
       

     

    1     Central Provident Fund (CPF) members will continue to earn interest rates of up to 3.5% per annum on their Ordinary Account (OA) monies, and up to 5% per annum on their Special and Medisave Accounts (SMA) monies in the third quarter of 2015.

     

    2     The above interest rates include an additional 1% interest paid on the first $60,000 of a member’s combined balances (with up to $20,000 from the OA) which is part of the Government’s efforts to enhance the retirement savings of CPF members.

     

    Interest Rate for Ordinary Account and HDB Mortgage Rate

     

    3     The OA interest rate will be maintained at 2.5% per annum from 1 July 2015 to 30 September 2015, as the computed rate of 0.21% is lower than the legislated minimum interest rate.

     

    4     Correspondingly, the concessionary interest rate for HDB mortgage loans, which is pegged at 0.1% above the OA interest rate, will remain unchanged at 2.6% per annum from 1 July 2015 to 30 September 2015.

     

    Please refer to Annex A for the detailed computation of the OA interest rate and HDB mortgage rate.

     

    Interest Rate for Special and Medisave Accounts

     

    5     The SMA interest rate will be maintained at 4% per annum from 1 July 2015 to 30 September 2015, as the computed rate of 3.27% is lower than the current floor interest rate.

     

    Please refer to Annex B for the detailed computation of the SMA interest rate.

     

    Interest Rate for Retirement Account

     

    6     The RA interest rate will be maintained at 4% per annum from 1 January 2015 to 31 December 2015, as announced on 25 November 2014.

     

    Please refer to Annex C for the detailed computation of the RA interest rate.

     

    Public Enquiries

     

    7     CPF members can visit http://www.cpf.gov.sg or call the CPF Call Centre at 1800-227-1188 for enquiries.

     

    *This includes the additional 1% interest paid on the first $60,000 of a member’s combined balances, of which up to $20,000 comes from the Ordinary Account (OA). The additional interest earned on OA monies will go to the member’s Special Account or Retirement Account, to enhance their retirement adequacy. If a member is above 55 years old and participates in the CPF LIFE scheme, the additional 1% interest will still be earned on his combined balances, which includes the savings used for CPF LIFE.