When you contribute to MediSave, you enjoy:

 

• Up to 6% interest¹ per annum on your MediSave savings

• Savings in the MediSave Account earn 4% interest¹ per annum, and the first $60,000 of your combined CPF balances earns an additional 1% interest per annum. Members aged 55 and above will also enjoy an additional 1% interest per annum on the first $30,000 of their combined CPF balance from 1 January 2016.

• Tax relief of up to 37% of your annual net trade income (NTI), the CPF Annual Limit of $37,740 or the actual amount contributed by you, whichever is lower. No tax relief is given if your assessed NTI for the year of assessment is zero or negative.

• Use of MediSave savings to pay for a variety of medical expenses

• Hassle-free licence application and renewal

You may also be eligible for Workfare Income Supplement (WIS) payouts of up to $2,800 annually. 

 

¹ Based on the current 4% interest rate floor for MediSave savings. Refer to CPF interest rates for the current rates.