11 July 2015

Government Top-up $500 to Baby CDA

So on 24th Jun I topped up $500 to CDA, today I checked the account and there is $500 extra, it was top-up by MSF on 08 Jul, so now baby's account have $3500.04, the $0.04 is the interest for Jun.

I think later they will top-up another $2500, making the total to $6000, now this is really helpful, I can use it for so many things for baby, but I try not to utilize it, if possible I want to save it for her post secondary education, in future education will be even more expensive, and it's not easy trying to work and study, like me I got my degree working full-time and studying part-time, those were siong times man, I remember going to classes from Expo MRT to Jurong East MRT, finish class then take train back to Tampines, really very shag.

Looking back, it's been 11 years since I ORD from army, time pass so fast, if I didn't get my degree, I wonder what I will be doing now, probably still working at the warehouse, every year increment is $50, by now my basic pay should be $1650, do some OT probably can get $2200 or so.

4 comments:

mr lee said...

Good to see everything going well for you. Been following your blog for almost a year and have always been impressed and humbled by your pragmatism and common sense. Your fellow country men and women have much to learn from you.

marrythaigirlsingapore said...

Hi mr lee,

Thanks for the support and kind words!

Anonymous said...

Can the CDA account be used for POST-Secondary School education such as Poly or Uni? Thanks.

marrythaigirlsingapore said...

Hi,

Yes, the CDA balance will be transferred to the Post Secondary Education Account when the child turns 13 years old, so it's good to top-up if you are saving for child's education as the interest rate is very attractive. OCBC give 2% for the first $36,000, but I don't think need to top-up so much, for me I just put the $6000 baby bonus inside and that's it.