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Topic Review (Newest First)
31-03-2011 01:11 AM
Unregistered Between OCBC and Stanchart, which is the better bank for a CDA account?

An acquaintance told me her online account with Stanchart gets 1% interest because it is "linked" to a CDA account. I didn't manage to find out more from her as it was a quick conversation. Can anyone tell me more?

Appreciate any help.
15-09-2010 06:06 PM
Unregistered
Quote:
Originally Posted by Haldiah-- View Post
I had checked with MCYS and they confirmed it can either be witdrawn for cash or transfer to PSED account.And i further confirmed the information o the link below.

Baby Bonus
Thanks Haldiah that means for my 2nd child i can withdraw all $12,000 in cash?
19-09-2009 08:03 PM
baby bonus i’m afraid not. according to the eligibility criteria in TLS the baby’s mother has to be lawfully married to the father. wish you the best.
19-09-2009 08:02 PM
baby will a single mother under 21 years of age be eligible for the baby bonus scheme?
19-09-2009 02:18 PM
dw_gal thanks haldiah appreciate the info. tt was wat i’m looking for.
25-08-2008 05:29 PM
Haldiah--
2495

More information of what i have.
A letter will be sent to parents somewhere in November the year the child turns 6yrs old.If parents opt to withdraw by cash, it will be transfered to our account somewhere in February the following year.
25-08-2008 05:27 PM
Haldiah--
2494

I had checked with MCYS and they confirmed it can either be witdrawn for cash or transfer to PSED account.And i further confirmed the information o the link below.

http://www.babybonus.gov.sg/bbss/html/faq.html
30-06-2008 09:04 AM
yes, can withdraw---
2082

I can confirm that you can withdraw the money in cash when the child turns 7. MCYS has sent me a written letter stating that. The article above also says "Parents have recently received letters saying that they have an option to withdraw the CDA savings when the child enters primary school."
However, I can't seem to find the same info in the official baby bonus site, or the MCYS site. It will be good if more people confirm this.
29-06-2008 08:20 PM
CAB---
2076

i also opened an CDA account with OCBC and heard that for child born before 31 Dec 2007, they can with all the funds when the child turn 7 yrs old
29-06-2008 07:09 PM
cannot withdraw---
2075

@lilyang, I don't think you can withdraw in cash. Check out www.babybonus.gov.sg
It says "The funds cannot be withdrawn in cash." You can only use the money for child-related expenses like medical and schooling.
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