facebookWhich bank (DBS, OCBC or UOB) is better for CPF investment account for CPF OA investing? If I buy SG listed shares with CPF OA, will they be held in custody or CDP account? - Seedly
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Anonymous

10 Jun 2020

Which bank (DBS, OCBC or UOB) is better for CPF investment account for CPF OA investing? If I buy SG listed shares with CPF OA, will they be held in custody or CDP account?

Thanks!

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    Discussion (4)

    What are your thoughts?

    Shengshi Chiam, CFA

    Shengshi Chiam, CFA

    10 Jun 2020

    Level 10·Personal Finance Lead at Endowus

    UOB is the cheapest, as Elijah pointed out. The shares or instruments are either held with the agent banks, or the investment administrator.

    Just FYI, you can only invest 35% of your investible CPF monies in stocks, but you can invest in 100% unit trust. Endowus offers exlusive access to 2 vanguard fund for CPF investments at the lowest fees, do find out more here!
    https://endowus.com/insights/webinar-cpf-invest...

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      Elijah Lee

      Elijah Lee

      06 Jun 2020

      Level 17·Independent Financial Advisor at Phillip Securities (Jurong East)

      Hi anon,

      Charges wise there is actually a small difference as of writing, based on what I gather.

      For shares/UTs/ETF, UOB charges S$2 per 1000 shares / units or part thereof, subject to a maximum of S$20 per transaction. The other banks charge $2.5/$25 max.

      For Fixed Deposits, Fund Management Accounts & Insurance Policies, Singapore Government Securities and most other transactions, it's $2 per transaction for UOB compared to $2.50 for the other banks.

      However, for IPO application by CPF cashier's order, UOB charges $5 per application, compared to $2 for the other banks.

      As always, invest through a CPF investment administrator to consolidate and save costs.

      You may refer to the full schedule of charges here:

      https://www.uob.com.sg/web-resources/personal/p...

      https://www.ocbc.com/assets/pdf/investment/cpfi...

      https://www.dbs.com.sg/iwov-resources/media/pdf...

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        Don't believe there is any difference between the banks for CPFIS account handling. Personally I'm u...

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