Beware of scam calls and scam messages impersonating as CPF officers asking for your personal details. Ignore them and do not share your Singpass ID/password or banking details with anyone. CPF officers will NOT ask for your Singpass, banking userid or password.

Scheduled Maintenance: CPF digital services will not be available from 26 Nov 2022, 10pm to 27 Nov 2022, 7am.

Maintenance: CPF digital services are not available on 22 Nov 2022 from 12.30pm to 2.30pm. You may access CPF Mobile app.

Your page is loading.
One moment please.

How are CPF interest rates determined?

Savings in the Ordinary Account earn the 3-month average of major local banks’ interest rates, subject to the legislated minimum interest of 2.5% per annum. This is reviewed quarterly.

Savings in the Special and MediSave accounts earn the 12-month average yield of 10-year Singapore Government Securities (10YSGS) plus 1%, subject to the current floor interest rate of 4% per annum. This is reviewed quarterly.

Savings in the Retirement Account earn the weighted average interest rate of the entire invested portfolio. New savings credited to RA each year earn the 12-month average yield of 10YSGS plus 1% computed for the year, subject to the current floor interest rate of 4% per annum. This is reviewed annually.

Please refer to the CPF interest rates and MOF website for more information.

Average banks' interest rate from August 2022 to October 2022 0.21% (see note)
CPF OA interest rate for January 2023 to March 2023  2.50% per annum (legislated minimum rate)
Plus: Fee to cover Cost of Loan Administration 0.10%
HDB mortgage rate for January 2023 to March 2023  2.60% per annum

Note:

 

12-month deposit rate

(% per annum)

Savings Rate 

(% per annum)

Average

(% per annum)

Month / Year DBS1 OCBC2 UOB3 DBS4 OCBC5 UOB6 Using the 80FD:20SD formula
31 Aug 2022 0.0500 0.1000 0.1500 0.0500 0.0500 0.0500 0.0900
30 Sep 2022 0.0500 0.1000 0.1500 0.0500 0.0500 0.0500 0.0900
31 Oct 2022 0.0500 0.1000 1.5000 0.0500 0.0500 0.0500 0.4500

 

1 Balances of $20,000 to < $50,000
2 Balances > $20,000 to $50,000
3 Balances < $50,000
4 Balances > $10,000 to $100,000 (AUTO-SAVE Account)
5 Balances ≤ $100,000 (EASI-SAVE Account)
6 Balances > $15,000 to $100,000 (UNIPLUS Account)

Average yield of 10YSGS from November 2021 to October 2022

 

2.47%

 

Plus: 1.00%

 

1.00%

 

Computed CPF SMA interest rate for January 2023 to March 2023

 

3.47%

CPF SMA interest rate floor for January 2023 to March 2023

4.00% per annum (current rate floor)

 

A table displaying SMA interest floor rates versus SMA computed rates

Source: Yields of 10-Year Singapore Government Securities are obtained from www.mas.gov.sg/bonds-and-bills