CDA First Step Grant
If your child is born on or after 24 March 2016, he/she will receive an upfront CDA First Step grant of S$3,000 paid into the UOB CDA upon account opening, as announced on Budget Day 2016.Read more
Every dollar in the CDA is matched by the Government, up to a maximum amount depending on the birth order of your child.
|Child Order||CDA Benefits from Government||Maximum CDA Benefits|
|First Step Grant
|1st & 2nd Child||
|Up to S$3,000 each||S$6,000 each|
|3rd & 4th Child||Up to S$9,000 each||S$12,000 each|
|5th child onwards||Up to S$15,000||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.