CPF and HDB mortgage rates to remain unchanged for Q1 next year

The Central Provident Fund (CPF) Ordinary Account interest rate and HDB mortgage rate is set to remain the same from Jan 1 to Mar 31 next year. PHOTO: ST FILE
The Central Provident Fund (CPF) Ordinary Account interest rate and HDB mortgage rate is set to remain the same from Jan 1 to Mar 31 next year. PHOTO: ST FILE

SINGAPORE- THE Central Provident Fund (CPF) Ordinary Account interest rate and HDB mortgage rate will remain unchanged for the first quarter next year.

The OA rate will be kept at 2.5 per cent while the HDB mortage rate, which is pegged at 0.1 per centage point above the OA rate, will stay at 2.6 per cent for the three months to March 31.

Interest rates for funds in Special and Medisave accounts will remain at 4 per cent in the first quarter in 2015, said the CPF Board and Housing Development Board (HDB) said in a joint statement Tuesday.

The rate for cash in Retirement Accounts will remain at 4 per cent for all of 2015.

The board will pay an extra 1 per cent for the first $60,000 of members' combined balances, of which up to $20,000 can come from Ordinary Accounts.