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4% interest rates on CPF Special and Medisave accounts to continue

Published on Mar 17, 2014 12:12 PM
 
Singaporeans will continue to enjoy an interest rate of four per cent on their Central Provident Fund Special and Medisave accounts from April 1 to June 30. -- ST FILE PHOTO: ONG CHIN KAI

Singaporeans will continue to enjoy an interest rate of 4 per cent on their Central Provident Fund (CPF) Special and Medisave accounts (SMA) from April 1 to June 30.

The CPF Board's announcement on Monday is in line with the Government's announcement last September that it would maintain the 4 per cent per annum floor rate for interest earned on all SMA savings until the end of this year.

Savings in the SMA currently earn either 4 per cent or the 12-month average yield of 10-year Singapore Government Securities (10YSGS) plus 1 per cent - whichever is higher. The interest rate on SMA savings is adjusted quarterly, based on interest rates on 10YSGS over a preceding 12-month period. For more information, visit www.cpf.gov.sg or call the CPF Call Centre on 1800-227-1188.