There is no limit to how much you can save into the Child Development Account (CDA). However, you may wish to note that CDA funds cannot be withdrawn in cash. After the CDA is closed at the end of the year the child turns 12, the CDA balance will be transferred to your child’s Post-Secondary Education Account (PSEA), up to the cap applicable for your child. Only excess CDA balance above this cap will be refunded to the child.

When you save in the CDA, the Government will co-match dollar-for-dollar up to your child’s eligible Government contributions cap. For example, if you deposit $10 into the CDA, the Government will match $10 within 2 weeks (excluding public holidays) after your deposit into your child's CDA.

You can use “[Check Eligibility]” on Baby Bonus Online to find out your child’s CDA contributions cap.