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.

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.
13 July, 2015 00:41
marrythaigirlsingapore said…
Hi mr lee,

Thanks for the support and kind words!
13 July, 2015 08:54
Anonymous said…
Can the CDA account be used for POST-Secondary School education such as Poly or Uni? Thanks.
18 November, 2015 23:14
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.
19 November, 2015 19:58
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