OCBC Child Development Account (CDA) | Baby Bonus

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

Bring their dreams to life, with the best start

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

Receive a complimentary Mickey-themed hooded towel when you sign up

Who can apply

Lawfully married couples with Singaporean children

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

How to apply
 

Current promotionEarn 0.30% a year more interest when you save with your child.
Find out more

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)

Child Development Account (CDA)

Shopping rewards

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.

Air miles

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.

Air miles

Comes with a Baby Bonus NETS Card

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

Child Savings Account (CSA)

Child Savings Account (CSA)

Air miles

PayNow is automatically linked

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

Air miles

Earn interest on your savings

Receive 0.05% a year on your account balance.

Air miles

Comes with a Debit Card

You can withdraw cash at any of our ATMs.

Learn more about

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.  

SIGN-UP OFFER: EXTRA 0.30% A YEAR INTEREST ON 360 ACCOUNT

Earn 0.30% more interest when you save with your child.

From now till 31 July 2025, open a Child Development Account (CDA) for your child and a 360 Account for yourself to get an additional 0.30% a year on your first S$100,000 in your 360 Account. That’s on top of the usual 6.30% a year for the 360 Account!

Already have a CDA? Simply apply for the 360 Account to enjoy the extra 0.30% a year for your 360 Account!

Bonus interest of 0.30% a year is accorded for 3 months till 31 July 2025. T&Cs apply. Insured up to S$100k by SDIC.
The OCBC CDA trustee who applies for the 360 Account must be the Primary Account Holder to qualify for the OCBC 360 Account interest promotion.

LIMITED-TIME DISNEY GIFT PROMOTION

Gift your child the magic of savings

Make your little one’s savings journey extra special with a Disney gift. Receive a complimentary Mickey-themed hooded towel when you open an OCBC Child Development Account or transfer an existing one to us.

Promotion valid from 1 May to 31 May 2025.

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

Disney's Lilo & Stitch Lucky Draw
Aloha! Win a trip to Hawaii with your ohana worth S$28,000

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

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. T&Cs 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

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 

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.

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.

Nominate a new trustee

Via OCBC app:

  1. Log in to OCBC app
  2. Select your Child Development Account under "Accounts"
  3. Tap on the settings icon on top right of the screen
  4. Select "Change your Trustee"

Enjoy up to 2% a year interest on your CDA balance.

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

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