Asked on 04 Jun 2020
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!
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:
06 Jun 2020
Don't believe there is any difference between the banks for CPFIS account handling. Personally I'm using dbs after transferring out from ocbc as I'm boycotting the latter. Don't really find any difference between the two.
The shares will be held with the agent bank and not with cdp.
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