MenuJoin free

Home / Compare / CDA bank accounts

Which bank for your child’s CDA?

Enter your child’s CDA balance to see the interest, gifts and cards at DBS/POSB, OCBC and UOB.

Government money is the same at every bank. On S$10,000, DBS/POSB and UOB each pay about S$100 a year. OCBC: not worked out (see below).

Step 1 Your details

Your child is a

We hide figures that don’t apply.

Or an example family:

Step 2 Your results

Your setup: S$10,000 balance · Citizen child · A to Z

3 banks, A to Z.

DBS/POSB

Interest a year on your S$10,000

About S$100

Estimate

Interest
  • First S$10,0001%
  • S$10,000 to S$50,0002%
  • Above S$50,0000.05%

Source: POSB CDA page ↗ (opens in new tab)Period: not stated by the sourceLast checked:

Gift or offer: Pigeon sippy cup bundle · until 30 December 2026

Conditions & source
Fees

No initial deposit and no minimum balance. S$2 a month for paper statements; free with eStatements.

Source: POSB CDA page ↗ (opens in new tab)Period: not stated by the sourceLast checked:

How to open

Apply for the Baby Bonus Scheme on LifeSG and choose POSB, then finish the CDA on POSB's website with your internet banking login. The Child Savings Account opens with it. Already have a CDA elsewhere? Use Change CDA Bank on POSB's site; POSB says it takes about 6 working days.

Source: POSB CDA page ↗ (opens in new tab)Period: not stated by the sourceLast checked:

Cards

POSB Baby Bonus NETS Card for paying Approved Institutions from the CDA, with benefits at selected retailers. The Child Savings Account is a joint POSB account with no minimum balance or fees.

Source: POSB CDA page ↗ (opens in new tab)Period: not stated by the sourceLast checked:

Pigeon sippy cup bundle

Open a POSB CDA and Child Savings Account to get a POSB x Pigeon gift pack. POSB values it at S$52: a straw cup, a S$30 Pigeon gift card and baby wipes.

First 1,000 eligible customers each month. Gift collected from a POSB vending machine; details by email within about three months. POSB can recover the gift's value if the CDA or Child Savings Account closes within 6 months. The promotion page says it ends 30 December 2026; the terms say 31 December 2026, so we use the earlier date.

Source: POSB CDA promotion page: Smiles in every save, from day one ↗ (opens in new tab)Data period: Offer 1 October 2026 to 30 December 2026Last checked:

Terms and conditions ↗ (opens in new tab)

DBS/POSB’s page ↗ (opens in new tab)

OCBC

Interest a year on your S$10,000

Not worked out

OCBC’s own pages show two different CDA rates, so we have not worked it out.

Gift or offer: Hegen feeding bottle · until 31 October 2026

Conditions & source
Interest, in the bank’s words

1.2% a year on the first S$10,000 and 2.4% above S$10,000, on OCBC's rates page and CDA headline.

Source: OCBC deposit rates page ↗ (opens in new tab)Period: not stated by the sourceLast checked:

Fees

OCBC's CDA page lists no account or fall-below fees. The Child Savings Account earns 0.05% a year.

Source: OCBC CDA page ↗ (opens in new tab)Period: not stated by the sourceLast checked:

How to open

In the OCBC app: new customers sign up with Singpass; existing customers go to More, Accounts, Child Development Account & Child Savings Account. You can also apply on LifeSG and choose OCBC. Switching in from another bank: Change My CDA Bank To OCBC. A Child Savings Account always opens with the CDA.

Source: OCBC CDA page ↗ (opens in new tab)Period: not stated by the sourceLast checked:

Cards

Baby Bonus NETS Card for the CDA, usable only at Approved Institutions, with OCBC Baby Bonus card deals at partner merchants. The Child Savings Account comes with a debit card for OCBC ATM withdrawals.

Source: OCBC CDA page ↗ (opens in new tab)Period: not stated by the sourceLast checked:

Why we haven’t compared its Interest

OCBC’s own pages disagree. Its rates page and CDA headline say 1.2% and 2.4%. A table lower on its CDA page says 1% on the first S$25,000 and 2% above.

Hegen feeding bottle

Open a new OCBC CDA, or switch one in from another bank, to get a Hegen PCTO 150ml feeding bottle. OCBC values it at S$31; delivery is free.

Not for a change of CDA trustee, or for closing and reopening an OCBC CDA. OCBC emails redemption details by the 15th business day of the month after opening; redeem within the period in that email.

Source: OCBC CDA promotion terms (PDF) ↗ (opens in new tab)Data period: Offer 1 August 2026 to 31 October 2026Last checked:

OCBC’s page ↗ (opens in new tab)

UOB

Interest a year on your S$10,000

About S$100

Estimate

Interest
  • First S$25,0001%
  • S$25,000 to S$50,0002%
  • Above S$50,0000.05%

Source: UOB CDA page ↗ (opens in new tab)Period: not stated by the sourceLast checked:

Gift or offer: Baa Baa Sheepz blanket · until 31 December 2026; Baby Bonus card merchant offers · until 31 December 2027

Conditions & source
Fees

UOB's CDA page lists no CDA fees. The Child Savings Account (a UOB Uniplus Account) has no minimum balance, fees or charges.

Source: UOB CDA page ↗ (opens in new tab)Period: not stated by the sourceLast checked:

How to open

Enrol in the Baby Bonus Scheme on LifeSG with Singpass and choose UOB. You then get a link to finish the CDA and Child Savings Account. UOB says eligible accounts can open within the day. Foreign parents bring LifeSG’s Letter of Authorisation to a UOB branch. Singaporean and PR trustees can switch in with Switch To UOB.

Source: UOB CDA page ↗ (opens in new tab)Period: not stated by the sourceLast checked:

Cards

Baby Bonus NETS Card for paying Approved Institutions by NETS or GIRO. The Child Savings Account links to a UOB One Debit Card. It gives up to 4% cashback on Grab, McDonald’s, Shopee and SimplyGo with S$600 monthly spend (2% from S$300), capped at S$30 a month.

Source: UOB CDA page ↗ (opens in new tab)Period: not stated by the sourceLast checked:

Baa Baa Sheepz blanket

Open a new UOB CDA, or switch one in from another bank, to get a limited-edition Baa Baa Sheepz single layer blanket. UOB values it at S$49.

For UOB Personal, Wealth or Privilege Banking customers named as CDA Trustee. The account must be approved within the promotion period, with the child's PayNow linked to the Child Savings Account. Not for a change of CDA Trustee or reopening a CDA for the same child. UOB tells parents who qualify within 90 days after the promotion ends; while stocks last.

Source: UOB CDA Baa Baa Sheepz promotion terms (PDF, 31 August 2026) ↗ (opens in new tab)Data period: Offer 1 September 2026 to 31 December 2026Last checked:

Baby Bonus card merchant offers

UOB Baby Bonus card holders get partner offers, for example Madam Partum (show the card in store) and Sweetest Moments discount codes.

Each merchant offer has its own dates and code on UOB's CDA page; the latest listed end date is 31 December 2027.

Source: UOB CDA page ↗ (opens in new tab)Data period: Offer 1 August 2026 to 31 December 2027Last checked:

UOB’s page ↗ (opens in new tab)

Banks we couldn’t compare for your inputs

  • OCBC Child Development Account: OCBC’s own pages show two different CDA rates, so we have not worked it out.

ExpectingSee all 16 steps →

What the government adds, whichever bank you pick

  • Only three banks offer the CDA

    A Child Development Account can only be opened with DBS/POSB, OCBC or UOB. You can switch between them later and the money moves with the account.

    Source: LifeSG: Baby Bonus Child Development Account (CDA) ↗ (opens in new tab)Data period: Current scheme rulesLast checked:

  • First Step Grant From 1 April 2027

    Children born on or after 1 April 2027 get a S$5,000 First Step Grant, paid into the CDA automatically once it opens. Children born 1 January 2015 to 31 March 2027 keep the existing Baby Bonus and Large Families amounts.

    Source: LifeSG: SG Child Support Package ↗ (opens in new tab)Data period: For children born on or after 1 April 2027Last checked:

  • Government co-matching From 1 October 2027

    The Government matches every dollar you save in the CDA. From 1 October 2027 every child's co-matching cap is S$5,000, so a first child's S$4,000 cap rises to S$5,000. A child with a higher cap (S$7,000, S$9,000 or S$15,000) can keep saving towards it until 30 September 2027.

    Source: LifeSG: SG Child Support Package ↗ (opens in new tab)Data period: S$5,000 cap for all from 1 October 2027Last checked:

  • Open until 16 From 1 April 2027

    For children born from 1 January 2015, the CDA stays open until the end of the year the child turns 16. Unused money then moves to the child's Post-Secondary Education Account (PSEA), up to the PSEA cap.

    MOE's PSEA overview still states the older age-13 transfer; the LifeSG package page is the newer rule.

    Source: LifeSG: SG Child Support Package ↗ (opens in new tab)Data period: For children born from 1 January 2015Last checked:

What parents say and our method

What parents say

Our summary, in our own words, of public parent discussions. It never changes the order.

  • Most parents in these threads put in the full matched amount early, so the Government's dollar-for-dollar match lands sooner. A few spread top-ups over the year to suit cash flow.
  • Several regret saving beyond the matching cap: money above the cap gets no match and earns only the bank's CDA rate.
  • The most common uses are preschool and infant care fees, then doctor and clinic bills.
  • Parents note the interest gap between banks is small next to the Government match, and that switching banks later is possible.

Source: HardwareZone CDA thread ↗ (opens in new tab), HardwareZone: [Parents] What to do with CDA funds for child? ↗ (opens in new tab)Data period: Two public threads, posts from 2015 to 2025. Some posts predate the 2026 changes to caps and the age-16 rule.Last checked:

Our method

We read each bank’s CDA page, rates page and promotion terms, and record the source and date for every figure. The interest estimate applies each published rate to the slice of your balance in its band, as simple yearly interest on a steady balance. Banks work interest out daily, so your interest will differ.

You choose the order. An account joins a sort only if we checked the bank’s page in the last 30 days. Its figure must also be published and consistent. Offers that have ended drop off.

Every source we read

Confirm rates, fees and gift terms with the bank before you open or switch.