Minimum interest rates for CPF SMRA accounts stay at 4%

Singapore

CENTRAL Provident Fund (CPF) members will continue to benefit from the government's decision to extend the 4 per cent minimum interest rate earned on all Special, Medisave and Retirement Account (SMRA) monies for one year until end-December 2018.

In a joint media statement, the CPF Board and the Housing and Development Board (HDB) said CPF members will continue to earn interest rates of up to 3.5 per cent per annum on their Ordinary Account (OA) monies, and up to 5 per cent per annum on their Special and Medisave Accounts (SMA) monies in the last quarter of 2017. The OA interest rate will remain at 2.5 per cent per annum from Oct 1 to Dec 31 this year, as the computed rate of 0.24 per cent is lower than the legislated minimum interest rate.