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Child Development Account (CDA)
The CDA is a special savings account for Singaporean children to help build up the savings that can be spent on approved uses at Baby Bonus Approved Institutions. When a CDA is opened, the child will receive CDA benefits comprising (a) the CDA First Step Grant which will be automatically credited after CDA opening and (b) dollar-for-dollar Government co-matching for each dollar that parents deposit in the CDA, up to the co-matching caps shown below. The CDA is opened until the year of the year that the child turns 12 years old.
|Birth Order||Cash Gift (inclusive of $2,000 Baby Bonus Plus)||CDA Benefits||Total Baby Bonus Benefits|
|CDA First Step Grant||Doller-for-Doller Matching Cap|
|1st & 2 nd child||$ 8,000||$ 3,000||Up to $ 3,000||Up to $ 14,000|
|3rd & 4 th child||$ 10,000||Up to $ 9,000||Up to $ 22,000|
|5th child||$ 10,000||Up to $ 15,000||Up to $ 28,000|
More information on Baby Bonus benefits for children born before 24 March 2016 can be found on Baby Bonus Online
More information on Baby Bonus benefits for children born before 24 March 2016 can be found on Baby Bonus Online.