facebookIs it advisable to transfer all the funds from your OA to SA to earn the higher interest rate to grow our CPF funds? Are there any things that I have to be mindful of before doing so? - Seedly

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          Anonymous

          18 Apr 2019

          Events

          Is it advisable to transfer all the funds from your OA to SA to earn the higher interest rate to grow our CPF funds? Are there any things that I have to be mindful of before doing so?

          4

              Discussion (4)

              What are your thoughts?

              Loo Cheng Chuan

              Loo Cheng Chuan

              07 Nov 2018

              Level 9·Founder at 1M65 Movement

              It is too blanket a question and it really depends on quite a few factors:

              a. Have you at least have a sum catered for the deposit of your HDB flat?

              b. Have you catered for 3-6 months of mortage payments for your housing loan (if you dont have enough cash savings for a rainy day)?

              b. Have you decided that 1M65 is the way to go for your millionaire dream?

              if the answer is yes, I would do it if i were you.

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                  Charmaine Ng

                  Charmaine Ng

                  02 Mar 2019

                  Level 9·The Value Maximizer at @ Every Ma La Xiang Guo Stall

                  If you are planning to buy a HDB in near future with your CPF you may want to avoid doing that. Transferring from OA to SA do help you accumulate more interests and as we know these interests roll over time to a good amount.

                  Also with increasing costs and inflation on yearly basis, interest rolls helps to buffer. I recommend you to do a quick calculation, have enough to support at least the down payment and 3-5years of installments; then transfer the rest to SA. Continue to transfer every JAN to your SA or on monthly basis if you're dilligent.

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                      Nicholes Wong

                      Nicholes Wong

                      02 Mar 2019

                      Level 10·Diploma in Business Management at Nanyang Polytechnic

                      It is good to transfer for it to grow. But u will not be able to undo the transfer so be wary of tha...

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