Child Development Account (CDA)

OCBC gives you and your little bundle of joy more benefits than any other bank in Singapore. Have a look at all the exclusive benefits you’ll get while enjoying the interest of 2% p.a. on the first S$36,000 deposited into your OCBC Child Development Account (CDA) and 0.05% p.a. thereafter.

3%

cashback for over-the-counter medical, dental and cord blood banking transactions with minimum S$600 monthly spend on OCBC 365 card, capped at S$80 a month

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3% cashback for over-the-counter medical, dental, cord blood banking transactions.

You also get up to 6% cashback on local weekend dining, and 3% on local weekday dining, overseas dining, online shopping, groceries and recurring telco bills. 5% cashback at all petrol stations islandwide on top of existing station discounts.

Cashback amount is capped at S$80 per calendar month with minimum S$600 monthly spend on OCBC 365 Card

More about OCBC 365 Credit Card

S$108

credited into your OCBC CDA with purchase of MaxMaternity Care protecting expectant mothers (from 13 weeks) against pregnancy related complications.

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S$108 credited into CDA with purchase of MaxMaternity Care

The first maternity insurance plan that covers mothers from as early as 13 weeks into pregnancy, and protects your baby from 18 congenital diseases and 8 types of pregnancy complications.

More about MaxMaternity Care

Up to

50%

discount at participating merchants with the OCBC Baby Bonus Card

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Enjoy up to 50% off with the OCBC Baby Bonus Card

Save on learning courses, kindergartens, party catering and more.

View all OCBC Baby Bonus Card offers

Up to

0.8% p.a.

interest on Monthly Savings Account opened jointly between parent-and-child, with S$50 monthly deposits and no withdrawals

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0.8% p.a. interest with OCBC Monthly Savings Account

Open the account with your child to join the OCBC Mighty Savers Programme. Deposit S$50 monthly with no withdrawals to enjoy 0.8% p.a.

This year, we celebrate Mighty Savers® 10th anniversary with enriching prizes to be won, including a S$10,000 education endowment fund. Start by saving for your child with a minimum of S$300 deposit in fresh funds.

More about OCBC Mighty Savers™ Programme

S$100

credited into your OCBC CDA with purchase of Endowment Plan (annual premium between S$3,600 to S$11,999) or Protection Plan (annual premium above S$1,200)

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S$100 credited into OCBC CDA with purchase of an Endowment or Protection Plan

With purchase of Endowment Plan (annual premium between S$3,600 – S$11,999) or Protection Plan (annual premium above S$1,200).

Use our OCBC Education Planner to see how much you need to save for your child's tertiary education.

More about S$100 Cash gift

40%

off PA Protect for parent, child plus child rider bundled plan for the first year.

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40% off PA Protect for parent, child and child rider bundled plan for the first year

PA Protect is a personal accident protection plan.

Speak to our Financial Protection Specialist team:
Contact no.: (65) 6722 2293
Hours: 9am to 6pm on Mondays to Fridays, excluding public holidays

More about PA Protect

About the Child Development Account

The CDA is designed to give your child a head start in life by matching your savings dollar-for-dollar. With the OCBC CDA, you can get higher interests and extra benefits too.

  • 1

    Save any time until your child turns 12 – right up to December 31 of that year.

  • 2

    Your savings are matched dollar-for-dollar, up to the cap set by the Government.
    If your child is born from 24 March 2016, you will receive an upfront CDA First Step Grant of S$3,000, paid into your child’s OCBC CDA upon account opening. This is in addition to the dollar-for-dollar matching of savings in your child’s CDA, up to a cap.

  • 3

    When your child turns 13, the unspent balance goes to their Post Secondary Education Account (PSEA), making it easier to pay education fees.

You can use the funds at any Baby Bonus Approved Instituition to pay for:

Education

  • Child care centres, kindergartens and special education schools
  • Providers of early intervention programmes
  • Providers of assistive technology devices

Health care

  • Pay for your child's medical-related expenses or purchase MediShield or Medisave-approved private integrated plans

We know you will have your hands full after your child is born. That is why you may now do a pre-birth registration as early as 8 weeks before the estimated delivery date of your child at Baby Bonus Online.

Your child will automatically join the Baby Bonus Scheme upon birth registration, and his OCBC CDA will be opened within 3-5 working days.

Visit Baby Bonus Online to perform pre-birth registration today. Remember to select OCBC CDA!

Learn how the OCBC CDA can benefit your child

OCBC Child Development Account New Baby

Parents-to-be are you prepared for your new baby and new responsibilities?

Read More
OCBC Child Development Account Maximise

Are you maximising your child’s CDA baby bonus?

Read More

How to apply

Online

Visit Baby Bonus Online and choose OCBC Child Development Account.

APPLY NOW
Important notices

Important Notes

Insurance policies will be underwritten by The Great Eastern Life Assurance Company or The Overseas Assurance Corporation Limited, each a wholly-owned subsidiary of Great Eastern Holdings Limited and a member of the OCBC Group, and are not bank deposits or obligations of, or guaranteed by OCBC Bank. Max is a registered trademark of The Overseas Assurance Corporation Limited. Buying a life insurance policy is a long-term commitment. An early termination of the policy usually involves high costs and the surrender value payable may be less than the total premiums paid. It is usually detrimental to replace an existing accident and health policy with a new one. A penalty may be imposed for early policy termination and the new policy may cost more or have less benefits at the same cost. If you decide that the policy is not suitable after purchasing it, you may terminate the policy in accordance with the free look provision, if any, and the insurer  may recover from you any expense incurred by the insurer in underwriting the policy.

From 1 August 2015 onwards. Terms and conditions apply.

Terms & Conditions
The promotion of 40% discount is only valid when you purchase the adult plan plus child plan plus child rider altogether, and is applicable to the first 12 months of your ShieldWise plan only.
Important Notes
ShieldWise is underwritten by The Overseas Assurance Corporation Limited, a wholly-owned subsidiary of Great Eastern Holdings Limited and a member of the OCBC Group, and is not a deposit or obligation of, or guaranteed by OCBC Bank. You may wish to seek advice from a financial adviser before making a commitment to purchase an insurance policy. In the event that you choose not to seek advice from a financial adviser, you should consider whether the insurance policy in question is suitable for you.
This material is for general information only. It is not a contract of insurance. It does not constitute an offer to buy an insurance product or service. It is also not intended to provide any insurance or financial advice. The specific terms and conditions of the plan are set out in the policy documents. A person interested in the insurance policies should read the product summary and benefit illustration (available from OCBC Bank) before deciding whether to buy this product. This policy is subject to the Payment Before Cover Warranty Clause which requires the payment to be paid and received on or before the inception date of the policy and endorsement.
It is usually detrimental to replace an existing accident and health plan with a new one. A penalty may be imposed for early plan termination and the new plan may cost more or have less benefits at the same cost.
No representation or warranty whatsoever in respect of any information provided herein is given by OCBC Bank and it should not be relied upon as such. OCBC Bank does not undertake an obligation to update the information or to correct any inaccuracy that may become apparent at a later time. All information presented is subject to change without notice. OCBC Bank shall not be responsible or liable for any loss or damage whatsoever arising directly or indirectly howsoever in connection with or as a result of any person acting on any information provided herein.

The insurance plans are protected under the Policy Owners' Protection Scheme which is administered by the Singapore Deposit Insurance Corporation (SDIC). Coverage for your policy is automatic and no further action is required from you. For more information on the types of benefits that are covered under the scheme as well as the limits of coverage, where applicable, please contact us or visit the Life Insurance Association (LIA) or General Insurance Association (GIA) or SDIC websites (www.lia.org.sg or www.gia.org.sg or www.sdic.org.sg).

Deposit Insurance Scheme

Singapore dollar deposits of non-bank depositors and monies and deposits denominated in Singapore dollars under the Supplementary Retirement Scheme are insured by the Singapore Deposit Insurance Corporation, for up to S$50,000 in aggregate per depositor per Scheme member by law. Foreign currency deposits, dual currency investments, structured deposits and other investment products are not insured.