You get 2 categories of interest on your account every month.
This interest is accrued daily based on your account's day-end balance and you will receive this at the end of the month.
You earn 2 types of bonus interest on your account's average daily balance and you will receive this on the 1st business day of the following month.
You can choose to deposit the money through any of your preferred methods. For example, you can set up a recurring monthly FAST contribution instruction. Do note that funds received on a non-business day via FAST or PayNow (for example, Sunday or public holidays) will be valued on the next business day. If your funds have a value date that falls in the next calendar month, you will not be eligible for the Monthly No Withdrawal and Save Bonus Interest for that particular month.
No there isn't. You will get the bonus interest on your entire account balance, if the required criteria is met.
You will receive the base interest for months when you made a withdrawal.
For subsequent months, you can earn the bonus interest if you meet the bonus interest criteria.
For illustration purpose:
|Calendar month||Any withdrawal?||Deposit amount||Total interest rate (a year)|
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.