Interest rate for CPF Special, Medisave and Retirement accounts to remain at 4% in Q2 2025

SINGAPORE: The interest rate for Central Provident Fund (CPF) Special, MediSave and Retirement accounts (SMRA) will remain at 4 per cent per annum in the second quarter of 2025, the CPF Board said on Wednesday (Mar 12).

This is because the SMRA pegged rate remains below the floor rate of 4 per cent. 

The SMRA interest rate is pegged to the 12-month average yield of 10-year Singapore Government Securities plus 1 per cent.

The Ordinary Account (OA) interest rate will also remain unchanged at the floor rate of 2.5 per cent per annum.

Similarly, the concessionary interest rate for Housing and Development Board (HDB) housing loans, which is pegged at 0.1 per cent above the OA interest rate, will remain unchanged at 2.6 per cent per annum.

EXTRA INTEREST

Members will continue to earn extra interest on their CPF savings, as part of the government’s efforts to boost retirement savings, said the CPF Board.

Members who are below 55 will earn an extra 1 per cent on the first S$60,000 (US$45,000) of their combined balances. This interest is capped at S$20,000 for the OA.

Those aged 55 and above will receive an extra 2 per cent interest on the first S$30,000 of their combined balances, also capped at S$20,000 for the OA, and an extra 1 per cent on the next S$30,000. 

The extra interest earned on the OA balances will go into the member’s Special Account or Retirement Account.

Members aged 55 and above who participate in the CPF LIFE scheme will still earn the extra interest on their combined CPF balances. This includes the savings used for CPF LIFE.