Child Development Account (CDA)
Celebrate new beginnings and a journey of endless possibilities for your little ones.
Supporting your child’s growing needs
The Baby Bonus Scheme is administered by Ministry of Social and Family Development (MSF) to help you manage the costs of raising a child.
It comprises of the Baby Bonus Cash Gift (BBCG) and a Child Development Account (CDA) – a special co-savings scheme for your child. A CDA and a joint alternate Uniplus Account (the designated Child Savings Account - CSA) will be opened for all citizens who have successfully enrolled in the Baby Bonus Scheme from 1 July 2024.
Earn higher interest
Enjoy up to 2% p.a. interest on your child's savings in the Child Development Account (CDA).
Receive Baby Bonus Benefits
- Receive S$5,000 CDA First Step Grant in your child’s CDA upon account opening
- Enjoy dollar-for-dollar co-matching from the Government on your savings in your child’s CDA, up to a maximum amount depending on the birth order of your child.
- The scheduled Cash Gift payments (if applicable) will be credited into the designated Child Savings Account (CSA).
Pay for your child’s essentials
The CDA comes with a Baby Bonus Card, which can be used to make NETS or GIRO payments at approved institutions for your child’s education, healthcare needs and more.
You can also access the CSA with a UOB Debit Card and enjoy exclusive discounts, deals and privileges across our merchants island-wide on Rewards+.
Get started with 3 simple steps
1. Enrol in the Baby Bonus Scheme
Enrol in the Baby Bonus scheme via LifeSG with your Singpass first.
Select UOB when applying.
2. Complete the UOB CDA & CSA Application
Upon successful enrolment in the Baby Bonus scheme, you will be directed to complete the UOB CDA & CSA application with your Singpass.
3. Start saving and receiving your baby bonus benefits
The CDA First Step Grant will be deposited into the CDA and the Cash Gift will be deposited into the CSA by the Government upon successful account opening.
Start saving in your CDA to receive your dollar-for-dollar Government co-matching benefits.
How it works
Child Development Account (CDA)
CDA is a special savings account for approved expenses at Baby Bonus Approved Institutions.
- The CDA First Step Grant of S$5,000 is a one-off payment that will be credited into the CDA upon account opening.
- The subsequent savings in your child’s CDA will also be eligible for dollar-for-dollar co-matching from the Government, up to a cap depending on the birth order of your child
- The funds in the CDA can only be used at Approved Institutions (AI) via GIRO or NETS using the Baby Bonus NETS Card.
- The CDA will be closed on the first working day in the year when your child turns 13 years old.
- Any savings left in the CDA after the year your child turns 12 will be transferred to their Post-Secondary Education Account (PSEA) to pay for their tertiary education, up to a cap (PSEA cap).
- Any excess unused CDA balance beyond the PSEA cap will be transferred to the designated CSA for your child.
Here’s how a Child Development Account (CDA) can benefit you
- Child order
- First Step Grant
- Dollar-for-dollar matching
| Child order | Child Development Account (CDA) Benefits from Government | Maximum Child Development Account (CDA) benefits | ||
| First Step Grant | Dollar-for-dollar matching | |||
| 1st child | S$5,000 |
S$4,000 |
S$9,000 |
|
| 2nd child | S$7,000 |
S$12,000 |
||
| 3rd & 4th child | S$9,000 each | S$14,000 each |
||
| 5th child onwards | S$15,000 each | S$20,000 each |
||
Maximise your savings for your child
-
Account balance
-
Interest rates (p.a.)
| Account balance | Interest rates (p.a.) |
| First S$25,000 | 1.00% |
| Next S$25,000 | 2.00% |
| Above S$50,000 | 0.05% |
| Account balance |
| First S$25,000 |
| Next S$25,000 |
| Above S$50,000 |
Thinking of switching your child’s CDA to UOB?
Thinking of switching your child’s CDA to UOB?
This is only applicable for children who are already enrolled in the Baby Bonus Scheme via LifeSG and has an existing CDA with another bank.
A new joint / alternate Uniplus Account for you and your child (designated CSA to receive BBCG thereafter) will also be opened with the UOB CDA.
Things you should know
Baby Bonus Scheme Eligibility
A child is eligible for the CDA if he or she is eligible for the Baby Bonus Scheme.
Child:
- Singapore Citizen
- 12 years old & below
Parent:
- Lawfully married
- Min. 18 years old
Children of unwed parents may be eligible for CDA benefits only if they are born on or after 1 September 2016.
You can check your child’s eligibility.
Terms and conditions
Important Notes
New CDA & CSA application
- Please ensure that your child is enrolled for Baby Bonus Scheme via LifeSG first
- Note: Foreigners would need to obtain a Letter of Authorisation (LOA) from LifeSG before visiting any UOB branch to assist with the CDA & CSA account opening
Switch CDA to UOB
- Applicable for existing CDA Trustee who are Singaporeans/PRs only
- You may submit your application here.
Change UOB CDA Trustee
- Existing trustee needs to submit a new nomination via UOB TMRW first. The nominated new trustee must be a Singaporean/PR.
- If you have been nominated as the new trustee, you will need to complete application here within 14 days. Kindly note that the nominated trustee must complete the application within the same session, otherwise the existing trustee would have to submit a new nomination again.
FAQ
Enrolment
1. How do I enrol for the Baby Bonus Scheme?
From 1 July 2024, all parents eligible for the Baby Bonus Scheme can now enrol via LifeSG mobile app/website. Here's how:
2. Who is eligible for the Baby Bonus Scheme Benefits?
Your child is eligible for Baby Bonus Scheme Benefits if they are a Singapore citizen (SC) at birth or becomes an SC before turning 12 years old. If your child is not a SC at birth, the benefits might be adjusted based on the parents' citizenship or when your child becomes an SC.
You can check your child's Baby Bonus eligibility and benefit here.
3. Can I enrol for the Baby Bonus Scheme before my child is born?
You can only submit your Baby Bonus application at LifeSG after your child is born.
Switching to UOB
1. How do I switch my CDA from another bank to UOB?
If your child already has an existing CDA and you wish to switch to UOB CDA, you may submit your application via UOB CDA website, select “Switch to UOB”. Kindly note that a new joint / alternate Uniplus Account (designated CSA) will also be opened for you and your child when you submit a “Switch to UOB” request going forward.
2. How do I transfer the remaining funds from my child’s previous CDA with the other bank to my new UOB CDA?
Once the bundled UOB CDA and CSA application for your child is approved, we will liaise with MSF and your child’s previous CDA bank to close your child’s previous CDA and transfer the remaining balance to your child’s CDA with UOB within 6 working days. There is no further action required from your end.
Any remaining Baby Bonus Cash Gifts (if applicable) will also be credited into the new UOB CSA going forward once the switch is successful.
Account Opening
1. How do I open a UOB CDA and CSA?
You will need to be successfully enrolled for the Baby Bonus Scheme via LifeSG before you can apply for a UOB CDA and CSA. For Singaporeans/PRs, if you have selected UOB as your preferred bank during scheme enrolment, you will be routed to the UOB webpage to complete the bundled CDA and CSA application after you have successfully enrolled for the Baby Bonus Scheme on the LifeSG mobile app/website. Kindly note that you’ll need to login with your SingPass to complete the CDA & CSA application.
2. Why do I need a CSA
As part of the new Baby Bonus Service Journey implemented from 1 July 2024, a joint / alternate Uniplus Account (designated CSA) will be opened together with each CDA when a child has successfully enrolled for the Baby Bonus Scheme. This will be the designed savings account for you and your child for receipt of all remaining Baby Bonus Cash Gifts (if applicable). The Government may also be crediting any education awards, financial assistance payouts and any other Government payouts to the CSA going forward. Any excess balance beyond the Post Secondary Education Account (PSEA) cap will also be credited into the CSA when the CDA is due for closure.
To facilitate the successful crediting of such payouts, we strongly recommend you to link your child’s PayNow to the designated CSA once the account is opened.
3. How can I apply for the UOB CDA and CSA if I’m a foreigner?
For foreigners, you will receive a Letter of Authorisation (LOA) issued by LifeSG to your email address upon successful scheme enrolment. You may visit any UOB branch with the following documents to complete the CDA and CSA application:
- Letter of Authorisation issued by LifeSG
- Original copy of your passport/ NRIC
- Birth Certificate or Citizenship Certificate or Passport of child
Change Trustee
1. How do I perform a Change CDA Trustee request?
If you are the trustee of a UOB CDA, you may submit a Change Trustee request via UOB TMRW app. You can only nominate a Singaporean/PR to be the new trustee.
Click on your child’s CDA and select “Change Trustee”. Provide the details of the nominated trustee and we’ll validate the change trustee request with MSF.
An email will be sent to the nominated trustee at the email address provided in the change trustee request upon successful nomination. Please remind the nominated trustee to complete the acceptance request within 14 working days. The acceptance request must also be completed within the same session.
Accept Nomination
1. How do I complete the Change Trustee application if I’m the nominated trustee?
You will receive an email from UOB to guide you through the Change Trustee acceptance request.
To complete the Change Trustee acceptance request, you will need to visit the official UOB CDA website and select “Accept Trustee Nomination”. Kindly complete the acceptance request within 14 calendar days and within the same session.
2. Do I need to open a new CSA too as the nominated trustee?
With effect from 1 July 2024, a joint / alternate Uniplus Account (designated CSA) will also be opened for the nominated trustee and the child as part of the Change Trustee application. All remaining Baby Bonus Cash Gifts (if applicable) will be credited into the new CSA once the Change Trustee application is successful.
The previous joint account between the previous trustee and the child (if applicable) will no longer be the designated CSA.
Baby Bonus Benefits
1. How can I track the Baby Bonus Scheme Benefits payout?
You may track the Baby Bonus Scheme benefits payouts via the official Baby Bonus portal here.
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$100,000 in aggregate per depositor per Scheme member by law. Monies and deposits denominated in Singapore dollars under the CPF Investment Scheme and CPF Retirement Sum Scheme are aggregated and separately insured up to S$100,000 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 Insured Deposit Register for a list of UOB accounts/products that are covered under the Scheme.
Make banking simpler with these services
Track your Child Development Account (CDA) on the go
Use UOB TMRW to view, manage and keep track of all your transactions.
Enjoy the convenience of monthly eStatements
Go paperless with 5 years of stored electronic statements from the time you subscribe.
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