For parents, children are like investment for long term – they are the ones that parents depend on when they become old in the future. The expected return, of course, should be accompanied by outflow right from the start, thus the parent can reap their reward once the kids has successfully become financially independent adults.
However, it’s pretty much undeniable that the cost of raising kids is not small at all in Singapore, as the living cost tends to increase each year and parents are demanded to keep up with it.
How To Check OCBC CDA Account Balance
OCBC CDA is a program that meant to lift some weight of raising children. It’s provided as the part of Baby Bonus Scheme, where the government gives parents dollar-to-dollar match, right from the child’s birth until they reach 12 years old.
If you are a parent that’s already joined this program, you may want to learn how to check OCBC CDA account balance by using the guide below:
- Access your account from official online banking site of OCBC at https://internet.ocbc.com/internet-banking
- Type in your access code and PIN at provided field and then press login.
- Last step on how to check OCBC CDA account balance is to open the page of ‘Account Overview’ then you will see the total balance and available balance there.
What Are The Eligibility Requirements for OCBC CBA Account?
Any couples with Singaporean citizenships that have married lawfully are eligible for the program.
What Are The Maximum Incentives Do I Get From Government to Match with My CDA Account?
Parents with Child Development Account are entitled to receive deposits as much as $6,000 for their 1st and 2nd child, $12,000 for their 3rd and 4th child, and $18,000 for 5th and following kids.
What Can I Use The OCBC CDA for?
The funds from CDA program is meant to pay for children’s education and health. As a parent, you may use it to pay for kindergartens, school, child care service, any purchase or expenses related to their medical needs, and private health insurance plan.
What Exclusive Benefits I Can Get of Being An OCBC CDA Holder?
There are several benefits available: 2% annual interest for the first S$36,000 saving in Child Development account, and there’s an additional 0.8% annual interest if you join Mighty Savers Programm too which is a saving account for kids.
You’ll also get discounts at various merchants such as Kinderland and MindChamps, as well as optical stores, bookstores, and enrichment classes by using OCBC Baby Bonus Card.
What Is OCBC Welcome Bundle?
OCBC Welcome Bundle is a gift program for parent and their kids with total present worth up to $250. OCBC knows that being parent is a hard work, that’s why this program is invented to give huge reward. Welcome Bundle is given at baby’s milestones, and it contains various gifts and discount benefits from OCBC partners.
How Do I Apply For OCBC Welcome Bundle?
First you have to have OCBC CDA account then register to Welcome Bundle program. You may apply through Baby Bonus Online, as far as eight weeks or two months before the estimated birth date of your newborn.