Baby Bonus

[Wanni]

Anyone gotten their baby bonus? How is it about? I heard mummy will be given a sum of $ from the goverment. And the baby will received credit in bAnk for 1 to 1 cash..

Any idea? TIA

 

[zozorro]

All you need to know are here:

https://www.babybonus.gov.sg/bbss/html/index.html

 

[Wanni]

Thank you. But I don't really understand about the cash gift. It is the 1 to 1 dollar scheme?

 

[Gif]

if i m not wrong, u are talking about the $4000? govt will give you $1000 a month for mths.

 

[JoeyLim0402]

I think when baby 1 month old $1000, then every 6, 12, 18 months all $1000. Total is $4000.

 

[Wanni]

IC.. What abt the value of the cash to cash? It's up to $6k?

 

[Jofeny]

Yup.. U put in 6k, govt put in 6k (max).. U can put 1k by 1k, need not 6k altogether.. govt will match the Amt u put in every month..

That Is call Cda fund n u use the fund via a nets card. U can use to pay for bb stuff like see PD, injections at polyclinics, n infant care etc.

 

[Tannie]

Yes, u need to open a CDA account with ocbc or standchart n they will provide u with ATM card. Govt will match the amt of money u deposited into the account up to max 6k. U got 6yrs to deposit. The cash cannot be withdrawn but can be use in approved institute like child care n clinics or to pay school fees or medical etc, u can refer to the web for the list.

 

[Wanni]

Thanks for the clarification! So cash gift is total of $4k (1mth, 6mth, 12mth & 18mth) and the 1 to 1 dollar is up 2 $6k from government throughout 6yrs? Hope I get it right, thank you all! ^^

 

[Tannie]

Yap. The 4 k is credited to your own account which u can use.

 

[Wanni]

Thank you ^^