Child Development Account


You'll Love

You'll Need

  • Child to be a Singaporean, with parent / trustee who is
    a Singaporean, Singapore PR or Foreigner

Benefits

Dollar-for-dollar
matching from the Government

Every dollar in the CDA is matched by the Government, up to a maximum amount depending on the birth order of your child.

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OR
CDA First Step Grant

If your child is born on or after 24 March 2016, he/she is eligible for the CDA First Step grant of S$3,000 as announced on Budget Day 2016. To receive the grant, parents should wait until 1 July 2016 before saving in the child’s CDA.

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  • UOB Baby Bonus Card

    Use the savings in the CDA to pay for permitted expenses incurred at Approved Institutions via NETS or GIRO, for all your children.

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  • 24/7 access

    Access your account via UOB Personal Internet Banking and 24-hour phone banking service.

Interest Rates

Earn 2% p.a. interest on your UOB Child Development Account with no deposit cap on all balances.


Dollar-for-dollar matching from the Government

Every dollar in the CDA is matched by the Government, up to a maximum amount depending on the birth order of your child.
  You Deposit Government Matches
1st & 2nd Child S$6,000 each     up to S$6,000 each    
3rd & 4th child S$12,000 each   up to S$12,000 each  
5th child onwards S$18,000 each   up to S$18,000 each

You can save and use the funds in the CDA any time until 31 December in the year your child turns 12 years of age.

After which, the unused balance in the CDA will be transferred to your child's Post-Secondary Education Account (PSEA), to pay for his or her tertiary education.

Insurance Promotion

Purchase an insurance policy to protect yourself or your child and receive up to S$800 worth of CapitaVouchers*.

*Terms & Conditions Apply.

To find out more, speak to a UOB Personal Banker today.



UOB Baby Bonus Card

Use the savings in the CDA to pay for permitted expenses incurred at Approved Institutions via NETS or GIRO, for all your children.

Approved Institutions, which must be registered with the Ministry of Social and Family Development (MSF) under the Baby Bonus Scheme, include:

  • Child care centres
  • Kindergartens
  • Special education schools
  • Pharmacies
  • Optical shops
  • Healthcare Institutions
  • Early intervention programme providers
  • Assistive technology device providers
  • MediShield or Medisave-approved private integrated plans


The funds in the CDA cannot be withdrawn in cash.
For the full list of Approved Institutions and permitted expenses, please refer to www.babybonus.msf.gov.sg



Access & Track

Convenience of a monthly statement
View your transactions with a paper statement or go paperless with 5 years of stored electronic statements from the time you subscribe.
Internet Banking
Perform more than 70 types of transactions at your convenience from the comfort of your home or office.

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ATMs
View your account balances at more than 1200 ATMs island-wide and deposit cash at any UOB Cash Deposit Machines.

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Other ways to access your account >

Initial Amount

No initial deposit is required
to open the account

Requirements

Child must be a
Singaporean, with parent /
trustee who is a
Singaporean, Singapore
PR or Foreigner.

Fees

No fees are required to maintain the account
Child's Age

< 12

years old
Parent / Trustee

> 18

years old

Terms and Conditions Governing UOB CDA

Apply Now


Register as early as 2 months before the Estimated Delivery Date (EDD) of your child.

Via Ministry of Social and Family Development (MSF) Online Form
For Singaporeans / PRs only.

Parents who are Singaporeans and PRs can only apply for a CDA via the MSF Baby Bonus website. Please visit www.babybonus.msf.gov.sg for more details.
Via Branch
For Foreigners / Third Party Trustees only, please bring along:
  • Authorisation letter from MSF
  • NRIC or Passport of parent / third party trustee
  • Birth Certificate or Citizenship Certificate or Passport of child

Important Notices


Important information on the use of UOB Accounts and Services



Deposit Insurance Scheme: Singapore dollar deposits of non-bank depositors and monies and deposits denominated in Singapore dollars under the Supplementary Retirement Scheme are insured by the Singapore Deposit Insurance Corporation, for up to S$50,000 in aggregate per depositor per Scheme member by law. Monies and deposits denominated in Singapore dollars under the CPF Investment Scheme and CPF Minimum Sum Scheme are aggregated and separately insured up to S$50,000 for each depositor per Scheme member. Foreign currency deposits, dual currency investments, structured deposits and other investment products are not insured.

Please refer to UOB/FEB Insured Deposit Register for a list of UOB accounts/ products that are covered under the Scheme.


More Information

  • Call our 24-hour hotline at 1800 222 2121
  • Contact Us