CPF Ordinary Account interest rate to stay at 2.5%

The Central Provident Fund Ordinary Account interest rate and Housing Board mortgage rate will remain unchanged at 2.5 per cent and 2.6 per cent respectively for the second quarter of this year. -- PHOTO: ST FILE 
The Central Provident Fund Ordinary Account interest rate and Housing Board mortgage rate will remain unchanged at 2.5 per cent and 2.6 per cent respectively for the second quarter of this year. -- PHOTO: ST FILE 

SINGAPORE - The Central Provident Fund (CPF) Ordinary Account (OA) interest rate and Housing Board mortgage rate will remain unchanged for the second quarter of this year.

The OA rate will be kept at 2.5 per cent while the HDB mortgage rate, which is pegged at 0.1 percentage point above the OA rate, will stay at 2.6 per cent for the three months to June 30.

Interest rates for funds in the Special and Medisave accounts will remain at 4 per cent in the second quarter of next year, said the CPF Board and HDB in a joint statement on Tuesday.

-- GRAPHIC: CPF BOARD/HDB

The rate for cash in Retirement Accounts will remain at 4 per cent for the whole year.

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.

ameltan@sph.com.sg