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

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 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.

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