Savings in the Ordinary Account (OA) earn the 3-month average of major local banks’ interest rates, subject to the legislated minimum interest of 2.5% per annum. This is reviewed quarterly.

Savings in the Special, MediSave, and Retirement Accounts (SMRA) earn the 12-month average yield of 10-year Singapore Government Securities (10YSGS) plus 1%, subject to the current floor interest rate of 4% per annum. This is reviewed quarterly.

Please refer to the CPF interest rates and MOF website for more information.

Computation of CPF OA Interest Rate and HDB Mortgage Rate for 1 October 2024 to 31 December 2024

Average banks' interest rate from May 2024 to July 2024	0.45% (see note)
CPF OA interest rate for October 2024 to December 2024	2.50% per annum (legislated minimum rate)
Plus: Fee to cover Cost of Loan Administration	0.10%
HDB mortgage rate for October 2024 to December 2024	2.60% per annum

Note:

	12-month deposit rate (% per annum)			Savings Rate (% per annum)			Average (% per annum)
Month / Year	DBS¹	OCBC²	UOB³	DBS⁴	OCBC⁵	UOB⁶	Using the 80FD:20SD formula
31 May 2024	0.0500	0.1000	1.5000	0.0500	0.0500	0.0500	0.4500
30 Jun 2024	0.0500	0.1000	1.5000	0.0500	0.0500	0.0500	0.4500
31 Jul 2024	0.0500	0.1000	1.5000	0.0500	0.0500	0.0500	0.4500

¹Balances of $20,000 to < $50,000
²Balances > $20,000 to $50,000
³Balances < $50,000
⁴Balances > $10,000 to $100,000 (AUTO-SAVE Account)
⁵Entire Account Balance (EASI-SAVE Account)
⁶Balances > $15,000 to $100,000 (UNIPLUS Account)

Computation of CPF SMRA Interest Rate for 1 October 2024 to 31 December 2024

Average yield of 10YSGS from August 2023 to July 2024	3.14%
Plus: 1.00%	1.00%
Computed CPF SMRA interest rate for October 2024 to December 2024	4.14%
CPF SMRA interest rate floor for October 2024 to December 2024	4.00%
CPF SMRA interest rate for October 2024 to December 2024	4.14% per annum

Source: Yields of 10-Year Singapore Government Securities are obtained from mas.gov.sg/bonds-and-bills

¹Please refer to the historical CPF interest rates (PDF, 0.15MB) for more information on past RA rates.

5 questions

What are the CPF interest rates?

How are CPF interest rates determined?

How much extra interest can I earn on my CPF savings?

How is my CPF interest computed and credited into my accounts?

Will the interest rates on savings in the Special, MediSave, and Retirement accounts be maintained at a floor rate?