which bank do you choose to open for your baby's CDA?

Queenbabe

Well-Known Member
Yes michelle , i think you can use your 2nd child CDA for your 1st child. Pls read below :
The savings in the CDA may be used to pay fees for all your children who are attending Approved Institutions registered with MCYS under the Baby Bonus Scheme. These include child care centres, kindergartens & special education schools registered with the Ministry of Education, and early intervention programmes registered with the National Council of Social Service. The CDA savings can also be used to purchase MediShield or Medisave-approved private integrated plans for all your children and pay for all your children’s medical-related expenses. These would include consultation fees, treatment fees and prescription costs incurred at healthcare institutions.

 

Queenbabe

Well-Known Member
I think can put $ in CDA but for me i never put so much inside . What if need cash how ? Different people different opinion
 

January84

Active Member
i thought must throw in 6k at one shoot?! u mean we have a choice? i havent open an account for my DD yet...

umm..for the package wise, is there any different btw OCBC and standard charted?

no need to deposit in 1 shoot. u can split the amount up to bb 6 years of age.

I chose OCBC cos my DH said standard charted not as good.
 

JacquiLau

Active Member
Hello mummies!

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?? :embarrassed:
 

CanCanMum

Moderator
Its only applicable for 2nd child onwards.

U 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:

Baby Bonus
 

JacquiLau

Active Member
Its only applicable for 2nd child onwards.

U 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:

Baby Bonus
Oh... second child onward... then I won't be applicable... :p

Thanks!!!
 

CanCanMum

Moderator
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....:tlaugh:
 

Porukadotzu

Active Member
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 ur gynae to write a letter stating your edd and you can apply to mcys about this.
 

JacquiLau

Active Member
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....:tlaugh:
No worries hun, the hospital has this one-stop-shop so all has been done. :001_302: I have choosen OCBC as well.
 
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