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When is the best time to top up to grow my savings?

You should top up as early as possible to maximise the growth of your CPF savings through the power of compound interest.

Additionally, you can earn more interest if you top up earlier in the year. For example, if you top up in January each year instead of in December, you can earn up to 20%* more interest on your top-ups in 10 years.

Earn up to 20 percent more interest on your top-ups in 10 years if you top up in January instead of December each year 

* Based on the current 4% interest rate floor on Special and Retirement Account monies and extra interest of up to 2% per annum on the first $60,000 of your combined CPF balances, with $8,000 annual top-up and $0 starting balance.

Do top up early in the year to ensure that your top-ups are processed before the year end as the normal processing time may take longer in December if there is a surge in applications.