a year
Set aside monetary gifts your child has received into their Mighty Savers® Account and let them grow together.
Set aside monetary gifts your child has received into their Mighty Savers® Account and let them grow together.
| Child Order | Government First Step Grant |
|---|---|
| 1st | S$5,000 |
| 2nd | S$5,000 |
| 3rd & 4th | S$5,000 |
| 5th & beyond | S$5,000 |
| Government dollar-for-dollar matching |
|---|
| S$4,000 |
| S$7,000 |
| S$9,000 |
| S$15,000 |
| Maximum CDA Benefit |
|---|
| S$9,000 |
| S$12,000 |
| S$14,000 |
| S$20,000 |
Child Order
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.
Pamper both mother and child with wellness, educational, and shopping deals from over 15 merchants. Enjoy up to 50% discount with your OCBC Baby Bonus Card (free with your Child Development Account).
Enjoy more fuss-free dinners with 5% cashback on online food deliveries, local, and overseas dining using the OCBC 365 Credit Card.
Who it is suited for
Lawfully married couples with Singaporean children
Children of unwed parents can enjoy CDA benefits if they were born on, or after 1 September 2016
You will receive electronic versions of Letters for all your relationships/accounts.
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$75,000 in aggregate per depositor per Scheme member by law. Monies and deposits denominated in Singapore dollars under the CPF Investment Scheme and CPF Retirement Sum Scheme are aggregated and separately insured up to S$75,000 for each depositor per Scheme member. Foreign currency deposits, dual currency investments, structured deposits and other investment products are not insured.
via Baby Bonus Online and choose OCBC CDA.
You can use the funds at any Baby Bonus Approved Institution to pay for:
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.
You can download a copy of the form and mail it back to us. Your signature should match that on our records.
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.
Enjoy up to 2% a year interest on your CDA balance.
| Rates | |
| First S$25,000 | 1% |
| Above S$25,000 | 2% |
