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What’s Your CPF Interest Rates for July to Sept 2023? Find Out Here!

Discussion on CPF Interest Rates Changes
Discussion on CPF Interest Rates Changes
  • Got extra 1% interest on first $60,000 of CPF balances for below 55 years old.
  • OA interest rate still 2.5%, but extra interest go to SA or RA.
  • SMA rate become 4.01% and RA still at 4%.

You know not? From 1 July 2023 to 30 September 2023, some CPF members can earn more interest leh!

If you below 55 years old, got extra 1% interest on your first $60,000 of CPF.

Above 55? Confirm got extra interest – 2% on first $30,000 and 1% on the next $30,000. Not bad hor?

How the OA Money Moves

Eh, now talk about Ordinary Account (OA).

OA interest rate still at 2.5%, but any extra interest you earn from this will go into your Special Account (SA) or Retirement Account (RA).

The Stable SMA and RA Lair

Sis, next we chat about Special and MediSave Account (SMA) interest rates ok?

That one is going to be 4.01%, while the Retirement Account (RA) interest rate sticking at 4%.

Here’s a summary table:

Table from CPF and HDB Joint News Release
Table from CPF and HDB Joint News Release

So got any questions? If have, you can just go and ask lah.

Must plan for your future, don’t play play k. Here some ideas:

  • Top up your CPF early to get more interest.
  • Transfer OA to SA to earn higher interest.
  • Plan your housing and medical expenses properly.

In conclusion ah, your CPF is like your kiasu secret weapon for retirement, must know how to use.

Life is like roti prata, must flip properly to get crispy and delicious outcome.

You think this CPF interest good for us anot? Let me know what you think in the comments!

What do you think?

Written by Patrick Tan

Meet Patrick, the word wizard of Daily.SG! He whips up news about Singapore that's so simple, even toddlers give him a thumbs up. When he's not writing, you'll find him sipping milk tea, gliding on skates, or striking a yoga pose. Dive into his stories and feel the sprinkle of fun and a whole lot of heart!

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