, Singapore

Sorry, gramps: CPF interest rates won’t be increasing this year

Since banks have low interest rates, too.

Major banks are keeping their interest rates at low levels, forcing the CPF board to also maintain the interest rates low.

According to the CPF board, they increase interest rates on the Ordinary Account when the interest rates of major banks is higher than their rates but when the major banks have low interest rates, the CPF will sell their rates at the minimum of 2.5%.

The CPF board are keeping rates at 2.5% for the Ordinary Account and 4% on Special, Medisave and Retirement Accounts at least until 31 December.
 

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Lorem Ipsum is simply dummy text of the printing and typesetting industry. Lorem Ipsum has been the industry's standard dummy text ever since the 1500s, when an unknown printer took a galley of type and scrambled it to make a type specimen book. It has survived not only five centuries, but also the leap into electronic typesetting, remaining essentially unchanged. It was popularised in the 1960s with the release of Letraset sheets containing Lorem Ipsum passages, and more recently with desktop publishing software like Aldus PageMaker including versions of Lorem Ipsum.
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