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  • Natalie Ho

๐Ÿ“ˆ 3 Ways To Maximise Your CPF

Trying to be smart with your CPF? Here are 3 hacks to maximise the interest in your CPF!

1. Transfer Money From Your OA to SA

Photo credits: James Hose Jr on Unsplash

Not looking to buy a house anytime soon? You could gain a lot more when you focus your CPF on your Special Account (SA). When you're under 55, you get up to additional 6% p.a. interest rate on your first $30,000 and an additional 5% p.a. interest rate on your next $30,000. This is capped at $20,000 for your Ordinary Account (OA), so you can earn more when you keep your OA less than that amount.


Plus, compared to your OA, at 2.5% p.a., the SA gets a higher interest rate (4% p.a.). Make the most of your CPF contributions when you transfer money from your OA to your SA. Start transferring here!


2. Top Up Your SA in January

Photo credits: CPF

Since CPF interest is counted at a monthly rate, topping up your accounts in January would allow you to earn up to 20% more interest than topping up later in December. If possible, making voluntary contributions regularly would also help your build your accounts!


3. Retain $20,000 in OA

Photo credits: Jiachen Lin on Unsplash


When buying your HDB you have the option to use your entire account or choose to retain up to $20k in your OA. Generally, it is recommended to choose the latter, so as to continue benefitting from the 1% bonus interest.


CPF can be a lifesaver when it comes to retirement funds. Do you know more methods to maximise your CPF? Let us know and we might feature it in another installment!

with Love, The Dateideas Team ๐Ÿฅฐ Follow us on Instagram, Telegram & TikTok too!

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