27 Oct '14, 2am

Just heard that I can get an additional 1% interest on my child's CDA acct, if I switch to POSB! Make that change

Just heard that I can get an additional 1% interest on my child's CDA acct, if I switch to POSB! Make that change

New parents today must get themselves familiar with the term “Child Development Account” or CDA for short. Since the start of the Baby Bonus Scheme in 2001, all Parents are glad to know that the Singapore government has a scheme to support a parent’s decision to have more children through financial aid. This Baby Bonus Scheme consists of two components – a cash gift and a Child Development Account. To reap the benefits of the Child Development Account,parents must start an account at one of the appointed banks. Yes! It is different from a normal savings account, as it is only in this account where your savings will be match dollar-for-dollar up to the cap of $6,000 each for the first and second child, $12,000 each for the third and fourth child and $18,000 each for the fifth and subsequent child. The Government will do this in the following month, and the offer is good unt...

Full article: http://edunloaded.com/advertorial/posb-child-development-...

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