How is 4% interest calculated for your SA account?

At the beginning or at the end of the year? What is the best period in the physical year to transfer your OA to SA?

Discussion (6)

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Kelly Trinh

21 Nov 2019

Backoffice technical at financial services firm

Interest for the year = Rate% * {{ Sum of minimum balance of each month }} / 12

It is payable at the start of the subsequent year

No particular "best time" to move from OA to SA as the balances (after moving) will be picked up on the next relevant monthly interest calculation.

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Leslie Koh

20 Nov 2019

Associate Financial Services Manager at Prudential Assurance Company Singapore

Hi Christopher,

the interest for SA is calculated as such:

4% * Sum of balances at the start of each month / 12
So the best timing for you to do the transfer OA to SA would be right at the beginning of the year to maximize the interest for a full year.

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Gabriel Tham

20 Nov 2019

Tag Team Member at Kenichi Tag Team

Some say start of year is best, there is another camp that will say just before Christmas, at the ve...

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For CPF, after age 55, can top-up any amount in SA account to earn the 4% interest rate, eg $50k? And afterwhich can withdraw any amount anytime? Or have to top-up just below age 55?

I have 100k in cpf special account. Although cpf SA earns interest of min 4 %; wld like to invest for more return, what should i invest?

Is there any difference in interest if i top my CPF SA or RA account with cash? If not, how would u choose whether to top up SA or RA account?

When I have reached the BHS for my medisave account, where will the annual interest for that account go to? SA (assuming that it has not reached FRS) or OA?

If my taxable income is at 40k, and by topping up my SA account with $x (up to 7k), does it mean that my Returns is effectively 3.5% (from tax relief) + 4% (from SA)?

For CPF, after age 55, can top-up any amount in SA account to earn the 4% interest rate, eg $50k? And afterwhich can withdraw any amount anytime? Or have to top-up just below age 55?

I have 100k in cpf special account. Although cpf SA earns interest of min 4 %; wld like to invest for more return, what should i invest?

Is there any difference in interest if i top my CPF SA or RA account with cash? If not, how would u choose whether to top up SA or RA account?

When I have reached the BHS for my medisave account, where will the annual interest for that account go to? SA (assuming that it has not reached FRS) or OA?

If my taxable income is at 40k, and by topping up my SA account with $x (up to 7k), does it mean that my Returns is effectively 3.5% (from tax relief) + 4% (from SA)?