How to make your CPF savings work harder

If you want to earn more interest from cash in the Ordinary Account (OA) of your Central Provident Fund (CPF), you do not have to hope for the official rate to go up – just head to the nearest OCBC Bank branch.

It is the only lender here that offers a special deal for people who want to

open fixed deposit accounts with money in their OA.

Its fixed deposit rate is higher than the 2.5 per cent the OA pays: OCBC offers 3.4 per cent for a full-year placement and 3.88 for eight months. The minimum CPF amount required is $20,000.