This is a special savings account for your child who is eligible under Baby Bonus scheme with no account fees.
You can save in the CDA any time until 31 December in the year your child turns 6 years of age. The savings will be matched up to the cap of $6,000 each for the 1st and 2nd child, $12,000 each for the 3rd and 4th child and $18,000 each for the fifth and subsequent child. The Government will match your savings in the following month.
Each CDA comes with a Baby Bonus Card, which enables payments via NETS from your child's CDA to Approved Institutions* (AIs) registered with the Ministry of Community Development, Youth and Sports (MCYS). You may use CDA funds to pay siblings fees at Approved Institutions too.
You can also make recurring payments via GIRO from the CDA to Approved Institutions (AIs)*. You may obtain the GIRO application form here, to be submitted through the Approved Institution.
* Approved Institution (AI) refers to any child care centre, kindergarten, special education school or healthcare institution in respect of which approval has been granted to a party as an approved party under the Children Development Co-Savings Act 2001. Please log onto MCYS's website for the list of Approved Institutions.
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How To Deposit Funds Into Your OCBC CDA/CDA Extra |
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E-channels |
Transfer funds from your existing OCBC account into your OCBC CDA / CDA Extra using your OCBC Baby Bonus Card, OCBC ATM Card, Internet Banking, Mobile Banking and Phone Banking. You may also deposit cash into your OCBC CDA/CDA Extra at any OCBC Cash Deposit Machine.
Please click here for details of echannel availability |
| Cheques |
Write your cheque payable to either:
- Trustee and child; OR
- Trustee only; OR
- Child only
On the reverse side of the cheque, please indicate your OCBC CDA/CDA Extra no. and drop into any OCBC Quick Cheque Deposit Box
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Please click here for MCYS’s FAQs
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