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 Account (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 January 2025 to 31 March 2025

Average banks' interest rate from August 2024 to October 2024	0.45% (see note)
CPF OA interest rate for January 2025 to March 2025	2.50% per annum (legislated minimum rate)
Plus: Fee to cover Cost of Loan Administration	0.10%
HDB mortgage rate for January 2025 to March 2025	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 Aug 2024	0.0500	0.1000	1.5000	0.0500	0.0500	0.0500	0.4500
30 Sep 2024	0.0500	0.1000	1.5000	0.0500	0.0500	0.0500	0.4500
31 Oct 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 January 2025 to 31 March 2025

Average yield of 10YSGS from November 2023 to October 2024	2.99%
Plus: 1.00%	1.00%
Computed CPF SMRA interest rate for January 2025 to March 2025	3.99%
CPF SMRA interest rate floor for January 2025 to March 2025	4.00%
CPF SMRA interest rate for January 2025 to March 2025	4.00% per annum

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

5 questions

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

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?