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- wong chee tat :)
Wednesday, May 21, 2014
Joint Press Release by HDB & CPF - CPF Members Receive 2.5% Interest Rate On Ordinary Accounts From 1 July 2014 TO 30 September 2014
ShareDate issued : 21 May 2014
Interest Rate For Ordinary Account (OA)
All CPF members will continue to enjoy a risk-free interest rate of 2.5% per annum on their Ordinary Account savings from 1 July 2014 to 30 September 2014.
The computed CPF interest rate, derived from the major local banks’ interest rates for the three-month period, February 2014 to April 2014, worked out to be 0.21% per annum. As this is below the legislated minimum of 2.50% per annum, the OA interest rate for July 2014 to September 2014 will remain unchanged at 2.50% per annum.
Extra Interest of 1%
As part of our efforts to enhance the retirement savings of CPF members, an extra 1% per annum interest will continue to be paid on the first $60,000 of a member’s combined balances, with up to $20,000 from the OA. The extra interest from the OA will go into the member’s Special or Retirement Account.
HDB’s Mortgage Rate
The concessionary interest rate for HDB mortgage loans, which is pegged at 0.1 percentage point above the CPF interest rate for the OA, will remain unchanged at 2.60% per annum from 1 July 2014 to 30 September 2014.
The detailed computations of the CPF OA interest rate and the HDB mortgage loan interest rate are given in the Annex 
(PDF 188KB).
(PDF 188KB).Public Enquiries
For more information, please visit www.cpf.gov.sg or call the CPF Call Centre at 1800-227-1188.
- wong chee tat :)
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