Advertisement

Anonymous

12 Jun 2022

∙

I want to top up my parent's RA. Is there much difference in interest rate if i do it every month vs 1 lump sum for 1 year by doing it in Jan?

1

Discussion (1)

What are your thoughts?

Learn how to style your text

Tan Choong Hwee

12 Jun 2022

Investor/Trader at Home

CPF interests are earned in the following month of the top up, therefore the lump sum in Jan would let your parent earn interests from Feb to Dec, whereas if you top up monthly from Jan to Dec, the Jan top up earns interests from Feb to Dec, the Feb top up earns interests from Mar to Dec, and so on. If the total top up amount for the 2 cases are the same, lump sum top up in Jan will earn more interests.

Reply

Save

Write your thoughts

Related Posts

What is the difference if I top a fixed amount every month to my CPF special account VS a lump sum of 7K before end January? How is the interest rate calculated? Which option is better?

Income year assessment is from 1 Jan 2019 to 31 Dec 2019 right? Means i must faster top up $7k to my SA if i want the tax relief for financial year 2019 is it?

Is there any difference if I volunteer to top up my CPF between the month of December and the following month January in terms of interest rates?

If my parents want to top up into CPF purely for interest rates, which account should they top up?

When will you jump into Singapore Savings Bonds? SSBs this month start at 3% year 1. Interest rates still going up the US Fed predicted to increase rates by 75bps. Do you buy this SSB or wait and see?

Related Posts

What is the difference if I top a fixed amount every month to my CPF special account VS a lump sum of 7K before end January? How is the interest rate calculated? Which option is better?

Income year assessment is from 1 Jan 2019 to 31 Dec 2019 right? Means i must faster top up $7k to my SA if i want the tax relief for financial year 2019 is it?

Is there any difference if I volunteer to top up my CPF between the month of December and the following month January in terms of interest rates?

If my parents want to top up into CPF purely for interest rates, which account should they top up?

When will you jump into Singapore Savings Bonds? SSBs this month start at 3% year 1. Interest rates still going up the US Fed predicted to increase rates by 75bps. Do you buy this SSB or wait and see?

Advertisement