Interest rate for CPF Special and Medisave Accounts remains at 4%

Interest rate for CPF Special and Medisave Accounts remains at 4%
Posted: 18 March 2013 1325 hrs
     
SINGAPORE: CPF members will continue to enjoy a risk-free interest rate of four per cent on their Special and Medisave Accounts (SMA) from April 1 to June 30, 2013.

Savings in the SMA currently earn either four per cent, or the 12-month average yield of 10-year Singapore Government Securities (10YSGS) plus one per cent, whichever is higher.

The interest rate on SMA savings is adjusted every quarter.

It is based on interest rates on 10YSGS over a preceding 12-month period.

The average yield of the 10YSGS plus one per cent, from March 1, 2012 to February 28, 2013, works out to 2.44 per cent.

-CNA/ac

- wong chee tat :)