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You can expect your child's CDA to be opened within 3 to 5 working days of your child's birth registration, or after your child's enrolment into Baby Bonus Scheme, whichever is later. The CDA is a special co-savings account.
Cash Gift and Child Development Account (CDA) Join Baby Bonus to get a cash gift and open a CDA – a special savings account which can be used for your child’s educational and healthcare expenses at Baby Bonus Approved Institutions.
The Baby Bonus Scheme helps you manage the costs of raising a child. It comprises the (i) Baby Bonus Cash Gift (BBCG) and (ii) Child Development Account (CDA) benefits comprising First Step Grant and Government co-matching of parents’ savings. The Baby Bonus Scheme was enhanced in 2023 for eligible children born on or after 14 Feb 2023.
Feb 14, 2023 · All eligible Singaporean children will receive a First Step Grant of $5,000, up from $3,000 previously. You can also double the savings deposited into your child’s CDA by leveraging the Government’s dollar-for-dollar matching, up to the Government co-matching cap.
The Baby Bonus Scheme, which was introduced on 1 April 2001, supports parents' decision to have more children by helping to lighten the financial costs of raising children. The Baby Bonus Scheme consists of two components - a cash gift and a Child Development Account.
The Baby Bonus Scheme is a Government Scheme administered by the Ministry of Social and Family Development (MSF) to help parents manage the costs of raising children. It comprises a cash gift and Government contributions into the Child Development Account (CDA), which will be opened for your child.
Baby Bonus Scheme Eligibility Check. About your child. Click here to determine if the child is eligible for the Baby Bonus Scheme. The Baby Bonus Scheme, which was introduced on 1 April 2001, supports parents' decision to have more children by helping to lighten the financial costs of raising children.
Jan 15, 2024 · Depending on your child’s eligibility, you could receive Baby Bonus benefits of up to S$20,000 for your first child, comprising a Cash Gift of $11,000, the Child Development Account (CDA) First Step of $5,000, and dollar-for-dollar Government co-matching for each dollar that the parent deposits in the CDA.
May 9, 2024 · The Baby Bonus Scheme comprises of 2 components: Cash Gift, and Child Development Account (CDA). The CDA then comprises the First Step Grant, and dollar-for-dollar co-matching. Lost already? Here’s a quick explanation on what these terms mean:
Enhanced Baby Bonus Scheme for parents with eligible Singaporean children born on or after 14 Feb 2023 Increased Baby Bonus Cash Gift Of $3,000 (for all birth orders),
