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Is it necessary to make a deposit to open a Child Development Account (CDA)?

Updated by MSF
You do not need to make any minimum deposit to open a Child Development Account (CDA). Also, you do not need to maintain a minimum balance at any point in time after you have opened the CDA. There will be no bank charges even if there is no money in the CDA. Notwithstanding when you deposit money into the CDA, you will receive Government co-matching contributions on the amount saved, up to your child’s eligible CDA cap within 2 weeks (excluding public holidays)

Topics:

Baby Bonus (BB)Baby Bonus Scheme

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