The Government has extended the 4% interest rate floor for interest earned on all Special, MediSave and Retirement Account (SMRA) monies for another year from 1 January to 31 December 2025. This extension of the floor rate will continue to provide CPF members with certainty on the returns of their CPF savings amidst the volatile interest rate environment.

Interest Rate for CPF Special, MediSave and Retirement Accounts

With the Special, MediSave and Retirement Accounts (SMRA) pegged rate exceeding the floor rate of 4%, savings in the SMRA will earn 4.14% in the fourth quarter of 2024, from 1 October to 31 December 2024. The SMRA interest rate is pegged to the 12-month average yield of 10-year Singapore Government Securities (10YSGS) plus 1%.

Interest Rate for CPF Ordinary Account and HDB Concessionary Interest Rate

The Ordinary Account (OA) interest rate will remain unchanged at 2.5% from 1 October to 31 December 2024, as the OA pegged rate remains below the floor rate of 2.5%. Correspondingly, the concessionary interest rate for HDB housing loans, which is pegged at 0.1% above the OA interest rate, will remain unchanged at 2.6% from 1 October to 31 December 2024.

Extra Interest paid on CPF balances

As part of the Government’s efforts to boost CPF members’ retirement savings, CPF members will continue to earn extra interest on their CPF savings. For members aged below 55, they will earn an extra 1% interest on the first $60,000 of their combined balances (capped at $20,000 for OA). For members aged 55 and above, the Government pays an extra 2% interest on the first $30,000 of their combined balances (capped at $20,000 for OA), and an extra 1% on the next $30,000.

The extra interest earned on the OA balances will go into the member’s Special Account or Retirement Account. If a member is aged above 55 and participates in CPF LIFE, the extra interest will still be earned on his or her combined CPF balances, which includes the savings used for CPF LIFE.

Public Enquiries

For more information on CPF interest rates and their computation, please visit CPF Interest Rates.

Joint Press Release by CPF Board and HDB - Government Extends 4% Interest Rate Floor on Special, Medisave and Retirement Account Monies Until 31 December 2025