This is a discussion on which bank do you choose to open for your baby's CDA? within the General Parenting Discussion forum, part of the Growing Up & Parenting category; Originally Posted by elaine82 OCBC interests higher than Standard Charted & also good because it open on sunday too only ...
Yes , some branches open on sunday . Luckily i stay near j.point , go OCBC also can go shopping too
yup jp always open late.
i choose ocbc as well.
CDA almost finish if sign up for storing cord. Is like left few dollars.
Me... OCBC... is quite a good bank and location is quite convenient..
Some of you might know I am not living in Singapore but am here to give birth so that I can be close to my parent. Can someone explain to me what is this CDA and what can we use these money for? As I see we can use for baby's education and what else??
Its only applicable for 2nd child onwards.
you can use it for childcare/nursery costs but the schools/childcare centre needs to be under the list of CDA/MCYS recognized institutions.
the details can be found at:
but you still get the 4k baby bonus....
sorry babe, i think there is a change in the new ruling:
All your children born on or after 17 August 2008 will also enjoy Government contributions in the form of a dollar-for-dollar matching for the amount of savings you contribute to your child’s Children Development Account (CDA).
If your child is born before 17 August 2008, he or she will enjoy the Government matching contributions in the CDA if he or she is your second to fourth child.
My understanding only applied before 17 aug 2008....
sorry for the misinterpretation....
i got something interesting guys, my girl born on 8 August, but her edd was 22nd, then she is still eligible to enjoy the matching contribution and the extra 1k... did anyone aware of this? so if your edd was more than 17 aug then you can ask your gynae to write a letter stating your edd and you can apply to mcys about this.