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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.
Feb 14, 2023 · 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.
Get financial support during your child’s early years. The Baby Bonus Scheme now comes with the Child Development Account (CDA) and Child Savings Account (CSA) to help manage your child’s expenses and get your Government grants on time. Before 1 July 2024. From 1 July 2024. Account under Baby Bonus Scheme.
Jul 28, 2023 · 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.
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.
