You can make deposits in your child’s CDA until the end of the year he or she turns 12.
Your child is born. You can open
a CDA and start depositing
money into the account.
Your child turns 12. You can still
deposit and use money from your
child's CDA until 31 December 2024.
The balance from your child's CDA is transferred to his Post-Secondary Education Account (PSEA) to pay for his or her tertiary education.
The Government will match every dollar you put in your child's CDA.
For an eligible child born on or after 17 August 2008:
|*Every dollar you deposit is matched by the Government in the following month. For example:
S$6,000 deposit (in June) + S$6,000 from government (in July) = S$12,000
Tip: Save in your CDA to maximise the co-savings from the Government. The savings can be used to for your expenses incurred at Approved Institutions (AIs).
Have a monthly household income of less than S$3,500?
Save S$50 into your CDA & receive additional S$250 from the dollar-for-dollar savings contributions when you apply for the OCBC CDA Starter Scheme.
Find out more
Pay Ministry of Social and Family Development (MSF) approved institutions using funds from your child's CDA via NETS, or interbank GIRO check your balance at ATMs or deposit cash at any OCBC Cash Deposit Machine
Enjoy discounts and privileges when you present your Baby Bonus card at participating merchants
The new Baby Bonus ATM Card with EMV chip will be issued to new CDA customers from 1 October 2013.
Pay fees for approved educational institutions registered with MSF under the Baby Bonus scheme.
Pay for your child's medical-related expenses or purchase MediShield or MediSave-approved private integrated plans for your children.
You may use one child's CDA to pay for a sibling's expenses.
Please visit the MSF website for application instructions
or passport of a parent
or citizenship certificate