What are the CPF interest rates for Ordinary Account (OA), Special Account (SA), Medisave Account (MA) and Retirement Account (RA)?

To help Central Provident Fund Board (CPF) members in Singapore grow their savings, the Singapore Government has extended the 4% interest rate floor for interest earned on all Special, MediSave and Retirement Account (SMRA) monies for another year until 31 December 2022. 

The interest rate floor for Ordinary Account continues to be 2.5%.

CPF interest rates at a glance

One-year extension of minimum 4% interest rate floor on Special, MediSave and Retirement Account monies from 1 January to 31 December 2022.

CPF members below 55 years old

• Members earn up to 5% interest on the first $60,000 of their combined CPF balances

CPF members members aged 55 and above

• Earn up to 6% interest on the first $30,000 of their combined CPF balances, and up to 5% on the next $30,000

Note: All interest rates are quoted on a per annum basis. Source: CPF Board

CPF Interest Rates for Ordinary, Special and MediSave Account Monies from 1 October 2021 to 31 December 2021

Members below 55 years old will be paid an extra 1% interest on the first $60,000 of their combined balances (with up to $20,000 from the Ordinary Account (OA)). They will continue to earn interest rates of up to 3.5% per annum on their OA monies, and up to 5% per annum on their Special and MediSave Account (SMA) monies in the last quarter of 2021.

Members aged 55 and above, the Government pays an extra 2% interest on the first $30,000 of their combined balances (with up to $20,000 from the OA), and an extra 1% on the next $30,000. As a result, members aged 55 and above will earn up to 6% interest per annum on their retirement balances.

Which CPF account does the extra CPF interest go to?

The extra interest paid to CPF members is part of the Government’s efforts to enhance the retirement savings of members.

The extra interest received on the OA will go into the member’s Special Account (SA) or Retirement Account (RA) to enhance his or her retirement savings. If a member is above 55 years old and participates in the CPF LIFE scheme, the extra interest will continue to be earned on his or her combined balances, which includes the savings used for CPF LIFE.

Did you know?

Since 1 January 2008, CPF interest rates have been pegged to market instruments of comparable risk and duration to ensure that members receive fair and reasonable interest rates. The Government had committed to maintaining a floor of 4% on SMRA interest and had subsequently extended the floor in light of the global economic conditions and the fact that interest rates had been exceptionally low. The current 4% interest rate floor was due to expire on 31 December 2021.

For more information and details on Central Provident Fund Board visit www.cpf.gov.sg