Enjoy up to 50% discount with our merchants. Click here to learn more

Child Development Account (CDA)

It’s the little things that count

Why you will love this

Earn 2% p.a. interest on the first S$36,000

Enjoy up to 50% discount at more than 20 merchants

Who should apply

Lawfully married couples with Singaporean children

Children of unwed parents can enjoy CDA benefits if they were born on, or after 1 September 2016

Every little help counts so you can focus on the big moments. As part of the Baby Bonus Scheme, OCBC CDA lightens the cost of raising your child with dollar-for-dollar matching from the government.

Benefits

2%

interest rate per year

Interest

Enjoy 2% per year on the first S$36,000 in your child’s CDA and 0.05% per year thereafter.

Stand to earn this interest rate on the first S$36,000 in your child’s CDA and 0.05% per year thereafter.

up to 50%

discount over 20 merchants

Perks

Enjoy discounts with the OCBC Baby Bonus Card at more than 20 merchants, from celebrations, education or entertainment for your child.

View offers

Enjoy exclusive discounts with the OCBC Baby Bonus Card at more than 30 merchants. Use it on celebrations, education or child care for your child.

View offers

up to 0.60%

interest rate per year

Save

Set aside monetary gifts your child has received into their Mighty Savers® Account and let them grow together.

Learn more

Set aside monetary gifts your child has received into their Mighty Savers® Account and let them grow together.

Learn more
how cda works

From your child's birth right up till the end of their 12th year, enjoy savings matched dollar-to-dollar from the government, so you get to earn the most for your child.

Child Order Government First
Step Grant
1st & 2nd S$3,000
3rd & 4th S$3,000
5th & beyond S$3,000
+
Government dollar-for-dollar matching
S$3,000
S$9,000
S$15,000
=
Maximum CDA Benefit
S$6,000
S$12,000
S$18,000

Child Order

S$3,000

Government First Step Grant

Everyone enjoys this base interest

+

S$3,000

Government dollar-for-dollar matching

Everyone enjoys this base interest

=

S$6,000

Maximum CDA Benefit

Everyone enjoys this base interest

S$3,000

Government First Step Grant

Everyone enjoys this base interest

+

S$9,000

Government dollar-for-dollar matching

Everyone enjoys this base interest

=

S$12,000

Maximum CDA Benefit

Everyone enjoys this base interest

S$3,000

Government First Step Grant

Everyone enjoys this base interest

+

S$15,000

Government dollar-for-dollar matching

Everyone enjoys this base interest

=

S$18,000

Maximum CDA Benefit

Everyone enjoys this base interest

CDA funds can only be used at approved institutions. When your child turns 13, the unspent balance goes to their Post Secondary Education Account (PSEA), making it easier to pay education fees.

highlights for you

Raising a child is no piece of cake. Let OCBC assist your parenting journey with these products – specially curated for parents.

Dining

Enjoy more fuss-free dinners with 6% cashback on online food deliveries using the OCBC 365 Credit Card.

Groceries

Prepare healthier meals at home and earn up to 12% rebates at FairPrice stores with the NTUC/OCBC Plus! Visa Card.

Wellness

Ensure that your baby is protected with GREAT SupremeHealth. Parents insured under GREAT SupremeHealth enjoy 15% off the first year premium for your child on additional private insurance coverage.

before you apply

Important notices


Ways to apply

Open your OCBC Child Development Account today

FAQs & guides
Common Questions
How can I use my child’s OCBC CDA funds for education-related expenses?

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

  • Child care centres, kindergartens and special education schools
  • Providers of early intervention programmes
  • Providers of assistive technology devices
How can I use my child’s OCBC CDA funds for healthcare-related expenses?

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

  • Pay for your child's medical-related expenses or purchase MediShield or Medisave-approved private integrated plans
Can I apply for OCBC CDA prior to the birth of my child?

We know that you will have your hands full after your child is born; hence you can apply online via Baby Bonus Online 8 weeks before the estimated delivery date of your child. Your child will automatically join the Baby Bonus Scheme upon birth registration and his OCBC CDA will be opened within 3-5 working days.

However if you are early in your pregnancy and would like to secure your Welcome Bundle, you may register your interest first.