CPF interest rates from 1 July 2015 to 30 September 2015
- Up to 3.5% per annum* on the Ordinary Account
- Up to 5% per annum* on the Special and MediSave Accounts
HDB mortgage rate from 1 July 2015 to 30 September 2015
- Remains unchanged at 2.6% per annum
Central Provident Fund (CPF) members will continue to earn interest rates of up to 3.5% per annum on their Ordinary Account (OA) monies, and up to 5% per annum on their Special and Medisave Accounts (SMA) monies in the third quarter of 2015.
The above interest rates include an additional 1% interest paid on the first $60,000 of a member’s combined balances (with up to $20,000 from the OA) which is part of the Government’s efforts to enhance the retirement savings of CPF members.
Interest rate for Ordinary Account and HDB mortgage rate
The OA interest rate will be maintained at 2.5% per annum from 1 July 2015 to 30 September 2015, as the computed rate of 0.21% is lower than the legislated minimum interest rate.
Correspondingly, the concessionary interest rate for HDB mortgage loans, which is pegged at 0.1% above the OA interest rate, will remain unchanged at 2.6% per annum from 1 July 2015 to 30 September 2015.
Please refer to Annex A for the detailed computation of the OA interest rate and HDB mortgage rate.
Interest rate for Special and MediSave accounts
The SMA interest rate will be maintained at 4% per annum from 1 July 2015 to 30 September 2015, as the computed rate of 3.27% is lower than the current floor interest rate.
Please refer to Annex B for the detailed computation of the SMA interest rate.
Interest rate for Retirement Account
The RA interest rate will be maintained at 4% per annum from 1 January 2015 to 31 December 2015, as announced on 25 November 2014.
Please refer to Annex C for the detailed computation of the RA interest rate.
* This includes the additional 1% interest paid on the first $60,000 of a member’s combined balances, of which up to $20,000 comes from the Ordinary Account (OA). The additional interest earned on OA monies will go to the member’s Special Account or Retirement Account, to enhance their retirement adequacy. If a member is above 55 years old and participates in the CPF LIFE scheme, the additional 1% interest will still be earned on his combined balances, which includes the savings used for CPF LIFE.
Public enquiries
CPF members can visit cpf.gov.sg or call the CPF Call Centre at 1800-227-1188 for enquiries.
