Latest news with #SMRA
New Paper
22-05-2025
- Business
- New Paper
Interest rate on CPF Special, MediSave and Retirement accounts remains at 4% for Q3 2025
The interest rate on the Central Provident Fund (CPF) Special, MediSave and Retirement accounts (SMRA) will remain unchanged at 4 per cent from July to September 2025. Savings in these accounts will earn the floor rate of 4 per cent a year in the third quarter, as the SMRA pegged rate remains below the floor rate, according to a joint statement by the CPF Board and Housing Board on May 22. The interest rate is pegged to the 12-month average yield of the 10-year Singapore Government Securities, plus 1 per cent. The interest rates for the Ordinary Account and for HDB housing loans remain unchanged at 2.5 per cent and 2.6 per cent, respectively. CPF members below 55 years old will continue to earn an extra 1 per cent interest on the first $60,000 of their combined account balances, capped at $20,000 for the Ordinary Account. Those aged 55 and above will continue to earn an extra 2 per cent interest on the first $30,000 of their combined balances, capped at $20,000 for the Ordinary Account, and an extra 1 per cent on the next $30,000. The extra interest earned on the Ordinary Account will go into a member's Special Account or Retirement Account, said the statement.
Business Times
22-05-2025
- Business
- Business Times
CPF Special, MediSave and Retirement Accounts' interest rate remains at 4% for Q3 2025
[SINGAPORE] The interest rate for the Central Provident Fund's (CPF) Special, MediSave and Retirement Accounts (SMRA) will remain at 4 per cent per annum in the third quarter of 2025 – the same as the second quarter. This is because the SMRA pegged rate continues to fall below the floor rate of 4 per cent, said the CPF Board in a joint statement issued with the Housing and Development Board (HDB) on Thursday (May 22). The SMRA interest rate is pegged to the 12-month average yield of 10-year Singapore Government Securities plus 1 per cent, and is subject to the floor rate. Similarly, the Ordinary Account's (OA) interest rate also remains at the floor rate of 2.5 per cent per annum for the third quarter, as its pegged rate remains below the floor rate. As a result, the concessionary interest rate for HDB housing loans, pegged at 0.1 per cent above the OA interest rate, will remain unchanged at 2.6 per cent a year. All CPF members will continue to earn extra interest on their CPF savings. BT in your inbox Start and end each day with the latest news stories and analyses delivered straight to your inbox. Sign Up Sign Up Members aged 55 and above will earn an extra 2 per cent interest on the first S$30,000 of their combined balances, capped at S$20,000 for the OA, and an additional 1 per cent on the next S$30,000. Those aged below 55 can expect to earn an extra 1 per cent interest on the first S$60,000 of their combined balances, also capped at S$20,000 for the OA. The extra interest earned on the OA balances will go into the member's Special Account (SA) or Retirement Account (RA). For members aged 55 and above who have joined CPF Life, extra interest will continue to apply to their combined CPF balances, including the savings used for CPF Life.
Straits Times
22-05-2025
- Business
- Straits Times
Interest rate on CPF Special, MediSave and Retirement accounts remains at 4% for Q3 2025
CPF members below 55 years old will continue to earn an extra 1 per cent interest on the first $60,000 of their combined account balances. ST PHOTO: NG SOR LUAN Interest rate on CPF Special, MediSave and Retirement accounts remains at 4% for Q3 2025 SINGAPORE – The interest rate on the Central Provident Fund (CPF) Special, MediSave and Retirement accounts (SMRA) will remain unchanged at 4 per cent from July to September 2025 . Savings in these accounts will earn the floor rate of 4 per cent a year in the third quarter , as the SMRA pegged rate remains below the floor rate, according to a joint statement by the CPF Board and Housing Board on May 22 . The interest rate is pegged to the 12-month average yield of the 10-year Singapore Government Securities, plus 1 per cent. The interest rates for the Ordinary Account, and for HDB housing loans, remain unchanged at 2.5 per cent and 2.6 per cent respectively. CPF members below 55 years old will continue to earn an extra 1 per cent interest on the first $60,000 of their combined account balances, capped at $20,000 for the Ordinary Account. Those aged 55 and above will continue to earn an extra 2 per cent interest on the first $30,000 of their combined balances, capped at $20,000 for the Ordinary Account, and an extra 1 per cent on the next $30,000. The extra interest earned on the Ordinary Account will go into a member's Special Account or Retirement Account, said the statement. Join ST's WhatsApp Channel and get the latest news and must-reads.
