About Baby Bonus
From 1st August 2008, OCBC Bank partnered the Ministry of Community Development, Youth and Sports (MCYS) to be a Managing Agent of the Baby Bonus Children Development Accounts.
We know that when it comes to providing your children with the best in life, every little bit of help counts. The Baby Bonus Scheme aims to give you a head-start with cash gifts as well as the Children Development Account (CDA) dollar-for-dollar matching Government contribution.
We know that when it comes to providing your children with the best in life, every little bit of help counts. The Baby Bonus Scheme aims to give you a head-start with cash gifts as well as the Children Development Account (CDA) dollar-for-dollar matching Government contribution.
Baby Bonus Scheme
The Baby Bonus Scheme supports parents' decision to have more children by helping to lighten the financial costs of raising children. It was introduced on 1 April 2001 and enhanced on 1 August 2004. The latest enhancements on 17 August 2008 extended increased benefits to the first and second child and benefits to Singapore citizen children beyond the fourth child.
You will get a cash gift of up to S$4,000 each for your 1st and 2nd child and S$6,000 each for your 3rd and 4th child. All your children born on or after 17 August 2008 will also enjoy Government contributions in the form of a dollar-for-dollar matching for the amount of savings you contribute to your child's Children Development Account (CDA). If your child is born before 17 August 2008, he or she will enjoy the Government matching contributions in the CDA if he or she is your second to fourth child.
You will get a cash gift of up to S$4,000 each for your 1st and 2nd child and S$6,000 each for your 3rd and 4th child. All your children born on or after 17 August 2008 will also enjoy Government contributions in the form of a dollar-for-dollar matching for the amount of savings you contribute to your child's Children Development Account (CDA). If your child is born before 17 August 2008, he or she will enjoy the Government matching contributions in the CDA if he or she is your second to fourth child.
Extracted from : http://www.ocbc.com/personal-banking/family/cda_about.shtm
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