Personal Banking
Accounts
Child Development Account (CDA) and Child Savings Account (CSA)

CHILD DEVELOPMENT ACCOUNT (CDA) AND CHILD SAVINGS ACCOUNT (CSA)

Bring their dreams to life, with the best start

Why you will love this
Who can apply

Why you will love this

Earn up to 2.40% a year

Enjoy up to 50% off on wellness, education and shopping at trusted merchants such as Madam Partum, Lulus and GAIA

Who can apply

Lawfully married couples with Singaporean children

Unwed parents with Singaporean children born on or after 1 September 2016

How to apply

Get financial support during your child’s early years.

The Baby Bonus Scheme comes with the Child Development Account (CDA) and Child Savings Account (CSA) to help manage your child’s expenses and get your Government grants on time.

	Before 1 July 2024	From 1 July 2024
Account under Baby Bonus Scheme	Comes with only CDA	Comes with CDA and CSA
First Step Grant	Credited in CDA	Credited in CDA
Cash Gift	Credited into parent’s nominated account	Credited in CSA
PayNow	NA	PayNow is auto tagged to CSA using child’s birth certificate number to receive future payouts from the Government

Features and benefits

Child Development Account (CDA)

Enjoy dollar-for-dollar Government co-matching

The Government will co-match every dollar you deposit into the CDA. Amount is capped based on your child's birth order.

Get up to 2.40% interest a year

Enjoy 1.2% a year on the first S$10,000 and 2.4% a year for amounts above S$10,000.

Comes with a Baby Bonus NETS Card

Funds in this account can only be used at approved institutions.

Child Savings Account (CSA)

PayNow is automatically linked

PayNow will be linked to your child's birth certificate number to secure future monetary gifts from the Government.

Earn interest on your savings

Receive 0.05% a year on your account balance.

Comes with a Debit Card

You can withdraw cash at any of our ATMs.

How cda works

Upon opening a CDA for your child, you will receive the First Step Grant. Additionally, any deposit you make into your child's CDA will be matched by the Government on a dollar-for-dollar basis. The maximum amount depends on your child's birth order.

How csa works

Upon opening a CSA for your child, you will receive Cash Gifts from the Government every 6 months until your child turns 6 and a half years old, if eligible. This means that you'll receive regular financial support all the way till they enter primary school.

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Stand to win a Disney’s Lilo & Stitch inspired family vacation in Hawaii! From 1 April to 30 June 2025, earn chances for every S$100 fresh funds deposited into your child’s MyOwn Account or Child Development Account.

T&Cs apply. Insured up to S$100k by SDIC.

Find out more

Account opening promotion

Ensure your child's wellbeing with a fully-subsidised home-based vaccination

Skip the queues and have your child vaccinated comfortably and privately at home through our partnership with Doctor Anywhere. To enjoy this offer, simply open an OCBC Child Development Account. You will receive the promo code via email once your account has been successfully opened.

This offer is only applicable for recommended vaccinations as per the Ministry of Health’s National Childhood Immunisation. Open to all children who are Singapore Citizens aged 2 months to 59 months. Standard fees will apply for PRs/Foreigners.

To find out more or book an appointment for vaccination, please visit Doctor Anywhere.

Valid till 31 December 2025 or while stocks last for new Child Development Account applications. Terms and conditions apply. Insured up to S$100K by SDIC.

home-based vaccinations

Watch the video to find out how home-based vaccinations are conducted.

HIGHLIGHTS FOR YOU

Raising a child is no piece of cake. Let OCBC assist your parenting journey with these specially curated solutions.

Deals for Baby Bonus Cards

Enjoy up to 50% off on wellness, education and shopping at trusted merchants such as Madam Partum, Lulus and GAIA.

Simply flash your OCBC Baby Bonus Cards (comes with your child’s CDA) to enjoy!

Learn more

how to apply

For new OCBC customers
For existing OCBC customers

1

After downloading the OCBC app, launch the app and select your preferred language.

2

Tap on "Sign up as a new customer", then "Local with Singpass app".

3

Select "OCBC Child Development Account (CDA) and Child Savings Account (CSA)".

4

Select one of the options below:

   a. New CDA Account enrolment – "Open an OCBC CDA and CSA"

   b. Change CDA Agent Bank from another bank to OCBC – "Change my CDA Bank to OCBC"

   c. For nominated customer to take over as the trustee of an OCBC CDA – "Register as a CDA trustee"

1

Log in via the OCBC app.

2

Tap on "More".

3

Navigate to "Accounts" and select "Child Development Account & Child Savings Account".

4

Select one of the options below:

   a. New CDA Account enrolment – "Open an OCBC CDA and CSA"

   b. Change CDA Agent Bank from another bank to OCBC – "Change my CDA Bank to OCBC"

   c. For nominated customer to take over as the trustee of an OCBC CDA – "Register as a CDA trustee"

BEFORE YOU APPLY

Eligibility requirements

Who it is suited for

Lawfully married couples with Singaporean children

Unwed parents with Singaporean children born on or after 1 September 2016

Letters

You will receive electronic versions of Letters for all your relationships/accounts.

Terms and conditions

General terms and conditions

Terms and Conditions governing OCBC Child Development Accounts (Baby Bonus)

Terms and Conditions governing the OCBC CDA Doctor Anywhere Promotion 2025

Important notices

Deposit Insurance Scheme

ready to apply?

Open your Child Development Account and Child Savings Account today

How to apply

ADDITIONAL CDA/CSA SUPPORT

Changing your CDA Bank to OCBC

If you already have a CDA with another bank, you can still switch to OCBC. We will arrange with your bank to close off your current CDA and have the funds transferred over. Once successful, you will receive a new CDA and CSA with OCBC. Any remaining Baby Bonus Cash Gift will be paid into the new CSA as scheduled.

Submit request

If you already have a CDA with another bank, you can still switch to OCBC. We will arrange with your bank to close off your current CDA and have the funds transferred over. Once successful, you will receive a new CDA and CSA with OCBC. Any remaining Baby Bonus Cash Gift will be paid into the new CSA as scheduled.

Submit request

Changing trustee for your OCBC CDA

If you would like your existing OCBC CDA to be managed by your spouse or a 3rd party (has to be pre-approved by MSF), you may nominate a new trustee via the OCBC app. The nominated trustee will have 14 days to register and take over the CDA.

Register as a new trustee

Nominate a new trustee

Once your child turns 12 years old

Once your child turns 12 years old, the CDA will be closed and the funds will be transferred to the Ministry of Education’s Post Secondary Education Account (PSEA), up to a cap. Excess balances that cannot be transferred to the PSEA will be transferred to the CSA instead. Please make sure to open and maintain your CSA even after your child turns 12 in order to receive the excess balances.

FAQs

Common questions

How can I use my child’s OCBC CDA funds?

CDA funds can be used at Baby Bonus Approved Institutions (AIs) for approved expenses only.

For the list of Baby Bonus AIs, please refer to go.gov.sg/listofais.

For more information on the approved expenses, please refer to the Baby Bonus Online website, AskMSF chatbot or go.gov.sg/bbofaq.

My OCBC CDA was opened before 1 July 2024. Can I open an OCBC CSA now?

This is currently not available. Please be rest assured that your Cash Gifts (if any) will continue to be disbursed into your current nominated bank account.

Can I opt out of the OCBC CSA when opening a new OCBC CDA?

No, the CSA will be opened automatically when a new CDA is opened.

Where can I find out more information about the Baby Bonus Scheme?

For more information on the Baby Bonus Service Journey (from 1 July 2024), please refer to go.gov.sg/bbofaq.

For more information on the Baby Bonus Scheme, please refer to the Baby Bonus Online website, AskMSF chatbot or go.gov.sg/bbofaq.

How CSA works

The below Baby Bonus Scheme is for eligible Singaporean children born on or after 14 February 2023.

Time	Amount of Cash Gift to be disbursed
Time		1st and 2nd birth orders	3rd and subsequent birth orders
At birth	S$3,000	S$4,000
6 months	S$1,500	S$2,000
12 months	S$1,500	S$2,000
18 months	S$1,000	S$1,000
From 2 years until 6.5 years	S$400 every 6 months	S$400 every 6 months
Total	S$11,000	S$13,000

How CDA works

The below Baby Bonus Scheme is for eligible Singaporean children born on or after 14 February 2023.

Child Order	Government First Step Grant
1st	S$5,000
2nd	S$5,000
3rd and 4th	S$10,000
5th and beyond	S$10,000

+

Government dollar-for-dollar matching
S$4,000
S$7,000
S$9,000
S$15,000

=

Maximum benefit from government in CDA
S$9,000
S$12,000
S$19,000
S$25,000

Child Order

1st
2nd
3rd and 4th
5th and beyond

S$5,000

Government First Step Grant

+

S$4,000

Government dollar-for-dollar matching

=

S$9,000

Maximum benefit from government in CDA

S$5,000

Government First Step Grant

+

S$7,000

Government dollar-for-dollar matching

=

S$12,000

Maximum benefit from government in CDA

S$10,000

Government First Step Grant

+

S$9,000

Government dollar-for-dollar matching

=

S$19,000

Maximum benefit from government in CDA

S$10,000

Government First Step Grant

+

S$15,000

Government dollar-for-dollar matching

=

S$25,000

Maximum benefit from government in CDA

Important notes for GREAT SupremeHealth

15% discount on child’s premium is only applicable to parents insured under GREAT SupremeHealth – B PLUS, A PLUS, P PLUS and STANDARD.

GREAT SupremeHealth insurance plan is provided by The Great Eastern Life Assurance Company Limited, a wholly owned subsidiary of Great Eastern Holdings Limited and a member of the OCBC Group. This plan is not a bank deposit and OCBC Bank does not guarantee or have any obligations in connection with it.

This document does not take into account your particular investment and protection aims, financial situation or needs. You may want to seek advice from a financial advisor before committing to buy the product. If you choose not to seek advice from a financial advisor, you should consider whether the product is suitable for you.

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. 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.

This document is for general information only. It is not a contract of insurance or an offer to buy an insurance product or service. It is also not meant to provide any insurance or financial advice. The specific terms and conditions of the plan are set out in the policy documents. If you are interested in the insurance policy, you should read the product summary and policy illustration (available from us) before deciding whether to buy this product.

We do not guarantee, represent or warrant that any of the information provided in this document is accurate and you should not rely on it as such. We do not undertake to update the information or to correct any inaccuracies. All information may change without notice. We will not be liable for any loss or damage arising directly or indirectly in connection with or as a result of you acting on the information in this document.

Information presented as at 14 February 2020.

	Rates
First S$25,000	1%
Above S$25,000	2%

CHILD DEVELOPMENT ACCOUNT (CDA) AND CHILD SAVINGS ACCOUNT (CSA)

Bring their dreams to life, with the best start

Get financial support during your child’s early years.

Child Development Account (CDA)

Child Development Account (CDA)

Enjoy dollar-for-dollar Government co-matching

Get up to 2.40% interest a year

Comes with a Baby Bonus NETS Card

Child Savings Account (CSA)

Child Savings Account (CSA)

PayNow is automatically linked

Earn interest on your savings

Comes with a Debit Card

Learn more about

Aloha! Win a trip to Hawaii with your ohana worth S$28,000

Raising a child is no piece of cake. Let OCBC assist your parenting journey with these specially curated solutions.

1

2

3

4

1

2

3

4

Eligibility requirements

Letters

Terms and conditions

Important notices

Open your Child Development Account and Child Savings Account today

Common questions

Download OCBC app

Download OCBC app

Download OCBC app

Download OCBC app

For new customers

How CSA works

How CDA works

S$5,000

Government First Step Grant

S$4,000

Government dollar-for-dollar matching

S$9,000

Maximum benefit from government in CDA

S$5,000

Government First Step Grant

S$7,000

Government dollar-for-dollar matching

S$12,000

Maximum benefit from government in CDA

S$10,000

Government First Step Grant

S$9,000

Government dollar-for-dollar matching

S$19,000

Maximum benefit from government in CDA

S$10,000

Government First Step Grant

S$15,000

Government dollar-for-dollar matching

S$25,000

Maximum benefit from government in CDA

Important notes for GREAT SupremeHealth

Nominate a new trustee

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