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Child Development Account Singapore
What is CDA?
The Child Development Account (CDA) is a special savings account for your child. The First Step Grant is deposited into the CDA without you having to save first and your subsequent savings will be co-matched by the Government. Singaporean Parents can join the Baby Bonus Scheme using Child Development Account (CDA).
How to open Child Development Account, Singapore?
You can open your child’s CDA within 3 to 5 working days of your child’s birth registration or after your child’s enrolment into Baby Bonus Scheme.
Which Banks accept Cards
- DBS/POSB
- OCBC
- UOB
The CDA is a special co-savings account. When a CDA is opened at DBS/POSB, OCBC or UOB, your child will receive the (a) CDA First Step Grant which will be automatically deposited into the CDA without you having to save first; and (b) dollar-for-dollar Government co-matching for each dollar that you deposit in the CDA, up to the maximum Government co-matching cap. You can save into and use the CDA until 31 December of the year your child turns 12 years old.
You can use the CDA funds at the Baby Bonus Approved Institutions (AIs) to pay for the following expenses of your child:
Fees for registered childcare centres, kindergartens, special education schools and early intervention programmes
Medical expenses at healthcare institutions such as hospitals and General Practitioner clinics
Premiums for MediShield Life or MediSave-approved private integrated plans
(Note: If premium is paid by MediSave, there must be cash top-up to MediSave before the CDA can be used to reimburse the parent.)
Assistive technology devices
Eye-related products and services at optical shops
Approved healthcare items at pharmacies
To search for an AI, visit ‘Approved Institutions’.
Government-Paid Leave Schemes (GPLS)
The Government-Paid Leave Schemes (e.g. Maternity Leave, Paternity Leave, Childcare Leave) under the Marriage and Parenthood (M&P) package aim to foster a pro-family environment in Singapore. These leave schemes support parents in managing their work and family responsibilities. Self-employed parents and employers can claim for reimbursement via the GPL portal.
For more information, Ask Jaime, our Virtual Assistant or contact us at 1800 253 4757 or contactus@profamilyleave.gov.sg.
When will you get Child Development Account (CDA) First Step?
- If your child was born on or after 24 March 2016 and a Singapore citizen or become a citizen before 12 years old, then the child is eligible for CDA First Step.
- You can check if you’ve received the CDA First Step by going to Baby Bonus Online and select ‘View/Update My Baby Bonus Details’, followed by ‘View Statement’.
