Rates · CPF Board data
CPF interest rates: OA, SA, MediSave and RA this quarter
This quarter’s CPF interest rates from CPF Board, the extra interest on your first $60,000, what your balances earn in a year, where next quarter’s rate is heading, and every rate since 1955.
Ordinary Account (OA)
2.5% a year
Oct–Dec 2026. CPF’s formula, from the major local banks’ deposit rates for May to Jul 2026, gave 0.32%, so the legislated minimum of 2.5% applies.
Special, MediSave and Retirement
4% a year
Oct–Dec 2026. The formula, the 10-year government bond yield over Aug 2025 to Jul 2026 plus 1, gave 3.06%; the 4% floor runs to 31 Dec 2027.
Plus extra interest: 1% more on the first $60,000 of your combined balances (no more than $20,000 of it from the OA); from 55, 2% more on the first $30,000 and 1% on the next $30,000. Which dollars · HDB loan rate: 2.6% (OA + 0.1).
Your CPF interest this year
Pick an example or put in your own balances (they are on your CPF dashboard). You see the interest each account earns in a year at this quarter’s rates, the extra interest, and which account it is paid into.
Which dollars earn extra interest
The Government pays extra interest on the first $60,000 of your combined CPF balances. How much depends on your age, and only the first $20,000 of your Ordinary Account counts.
Under 55
So on the first $60,000: OA money up to $20,000 earns 3.5%, SA and MA money 5%.
55 and over
On the first $30,000: OA 4.5%, RA and MA 6%. On the next $30,000: OA 3.5%, RA and MA 5%.
- The order CPF counts in: Retirement Account first (with any CPF LIFE premium balance), then the OA up to $20,000, then the Special Account, then MediSave.
- Where it goes: extra interest on the OA is paid into your Special Account (under 55) or Retirement Account (55 and over), not the OA. Extra interest on the other accounts stays in them.
- Above $60,000, each dollar earns its account’s rate only: 2.5% in the OA, 4% in the others.
From CPF Board: how much extra interest can I earn.
Next quarter’s rates
CPF Board sets the rates every quarter from two formulas, each with a minimum. We work one of them out ourselves from MAS’s bond yields, so you can see where the next rate is heading before CPF announces it.
Rates from 1 Jan 2027: Very likely unchanged: OA 2.5%, Special, MediSave and Retirement 4%.
| Account | Formula | How we know |
|---|---|---|
| Special, MediSave, Retirement | 3.19% so far | The 10-year bond yield averaged over Nov 2025 to Oct 2026, plus 1. 11 of the 12 months are in, and October up to 23 Oct; below the 4% floor, which runs to 31 Dec 2027. |
| Ordinary Account | 0.32% last | The banks’ deposit rates (80% 12-month fixed deposits, 20% savings) gave 0.32% for this quarter; the OA pays at least 2.5% by law. |
When CPF announces it: past years on 15 Dec 2025, 11 Dec 2024, 6 Dec 2023. We read CPF’s page every hour, and the page and the email follow within the hour.
For the SA, MA and RA rate to go above 4%, the 10-year yield would have to average more than 3% over the year. Our record: our sum gave CPF’s published figure, to the hundredth, for 4 of 4 quarters (every quarter we have MAS’s daily yields for). How
CPF against T-bills and Savings Bonds
| Rate | % a year | What it is |
|---|---|---|
| CPF Special, MediSave, Retirement | 4.00% | Locked for retirement and healthcare |
| CPF Ordinary Account | 2.50% | Housing, education, investing above $20,000 |
| Savings Bond SBNOV26, 10-year average | 2.45% | If held 10 years; less if cashed in early |
| 6-month T-bill | 1.95% | Cut-off yield, auction of 22 Oct |
| 1-year T-bill | 1.92% | Cut-off yield, auction of 15 Oct |
OA money in a T-bill? Right now the OA pays 0.55 points more than the latest 6-month T-bill (1.95%), before the bank charges and the months your OA earns nothing while the money is out. Work it out for your amount, with the months without OA interest and the bank charges.
CPF rates are this quarter’s; T-bill and Savings Bond figures are MAS’s latest. You can only invest OA savings above the first $20,000 (CPF Investment Scheme). The numbers side by side, not advice.
CPF interest rates since 1955
SA/MA/RA rate paid What the formula gave
Tap or hover on the chart to read a value.
The last 12 quarters
| Quarter | OA (formula) | SA/MA/RA (formula) | CPF announced |
|---|---|---|---|
| Oct–Dec 2026 | 2.5% (0.32%) | 4% (3.06%) | 22 Sep 2026 |
| Jul–Sep 2026 | 2.5% (0.32%) | 4% (3.09%) | 26 May 2026 |
| Apr–Jun 2026 | 2.5% (0.32%) | 4% (3.24%) | 11 Mar 2026 |
| Jan–Mar 2026 | 2.5% (0.36%) | 4% (3.43%) | 15 Dec 2025 |
| Oct–Dec 2025 | 2.5% (0.45%) | 4% (3.64%) | 22 Sep 2025 |
| Jul–Sep 2025 | 2.5% (0.45%) | 4% (3.88%) | 22 May 2025 |
| Apr–Jun 2025 | 2.5% (0.45%) | 4% (3.99%) | 12 Mar 2025 |
| Jan–Mar 2025 | 2.5% (0.45%) | 4% (3.99%) | 11 Dec 2024 |
| Oct–Dec 2024 | 2.5% (0.45%) | 4.14% (4.14%) | 20 Sep 2024 |
| Jul–Sep 2024 | 2.5% (0.45%) | 4.08% (4.08%) | 29 May 2024 |
| Apr–Jun 2024 | 2.5% (0.66%) | 4.05% (4.05%) | 12 Mar 2024 |
| Jan–Mar 2024 | 2.5% (0.66%) | 4.08% (4.08%) | 6 Dec 2023 |
Every rate since 1955
| Period | OA | SA | MA | RA |
|---|---|---|---|---|
| Oct–Dec 2026 | 2.5% | 4% | 4% | 4% |
| Jul–Sep 2026 | 2.5% | 4% | 4% | 4% |
| Apr–Jun 2026 | 2.5% | 4% | 4% | 4% |
| Jan–Mar 2026 | 2.5% | 4% | 4% | 4% |
| Oct–Dec 2025 | 2.5% | 4% | 4% | 4% |
| Jul–Sep 2025 | 2.5% | 4% | 4% | 4% |
| Apr–Jun 2025 | 2.5% | 4% | 4% | 4% |
| Jan–Mar 2025 | 2.5% | 4% | 4% | 4% |
| Oct–Dec 2024 | 2.5% | 4.14% | 4.14% | 4.14% |
| Jul–Sep 2024 | 2.5% | 4.08% | 4.08% | 4.08% |
| Apr–Jun 2024 | 2.5% | 4.05% | 4.05% | 4.05% |
| Jan–Mar 2024 | 2.5% | 4.08% | 4.08% | 4.08% |
| Oct–Dec 2023 | 2.5% | 4.04% | 4.04% | 4% |
| Jul–Sep 2023 | 2.5% | 4.01% | 4.01% | 4% |
| Apr–Jun 2023 | 2.5% | 4% | 4% | 4% |
| Jan–Mar 2023 | 2.5% | 4% | 4% | 4% |
| Oct–Dec 2022 | 2.5% | 4% | 4% | 4% |
| Jul–Sep 2022 | 2.5% | 4% | 4% | 4% |
| Apr–Jun 2022 | 2.5% | 4% | 4% | 4% |
| Jan–Mar 2022 | 2.5% | 4% | 4% | 4% |
| Oct–Dec 2021 | 2.5% | 4% | 4% | 4% |
| Jul–Sep 2021 | 2.5% | 4% | 4% | 4% |
| Apr–Jun 2021 | 2.5% | 4% | 4% | 4% |
| Jan–Mar 2021 | 2.5% | 4% | 4% | 4% |
| Oct–Dec 2020 | 2.5% | 4% | 4% | 4% |
| Jul–Sep 2020 | 2.5% | 4% | 4% | 4% |
| Apr–Jun 2020 | 2.5% | 4% | 4% | 4% |
| Jan–Mar 2020 | 2.5% | 4% | 4% | 4% |
| Oct–Dec 2019 | 2.5% | 4% | 4% | 4% |
| Jul–Sep 2019 | 2.5% | 4% | 4% | 4% |
| Apr–Jun 2019 | 2.5% | 4% | 4% | 4% |
| Jan–Mar 2019 | 2.5% | 4% | 4% | 4% |
| Oct–Dec 2018 | 2.5% | 4% | 4% | 4% |
| Jul–Sep 2018 | 2.5% | 4% | 4% | 4% |
| Apr–Jun 2018 | 2.5% | 4% | 4% | 4% |
| Jan–Mar 2018 | 2.5% | 4% | 4% | 4% |
| Oct–Dec 2017 | 2.5% | 4% | 4% | 4% |
| Jul–Sep 2017 | 2.5% | 4% | 4% | 4% |
| Apr–Jun 2017 | 2.5% | 4% | 4% | 4% |
| Jan–Mar 2017 | 2.5% | 4% | 4% | 4% |
| Oct–Dec 2016 | 2.5% | 4% | 4% | 4% |
| Jul–Sep 2016 | 2.5% | 4% | 4% | 4% |
| Apr–Jun 2016 | 2.5% | 4% | 4% | 4% |
| Jan–Mar 2016 | 2.5% | 4% | 4% | 4% |
| Oct–Dec 2015 | 2.5% | 4% | 4% | 4% |
| Jul–Sep 2015 | 2.5% | 4% | 4% | 4% |
| Apr–Jun 2015 | 2.5% | 4% | 4% | 4% |
| Jan–Mar 2015 | 2.5% | 4% | 4% | 4% |
| Oct–Dec 2014 | 2.5% | 4% | 4% | 4% |
| Jul–Sep 2014 | 2.5% | 4% | 4% | 4% |
| Apr–Jun 2014 | 2.5% | 4% | 4% | 4% |
| Jan–Mar 2014 | 2.5% | 4% | 4% | 4% |
| Oct–Dec 2013 | 2.5% | 4% | 4% | 4% |
| Jul–Sep 2013 | 2.5% | 4% | 4% | 4% |
| Apr–Jun 2013 | 2.5% | 4% | 4% | 4% |
| Jan–Mar 2013 | 2.5% | 4% | 4% | 4% |
| Oct–Dec 2012 | 2.5% | 4% | 4% | 4% |
| Jul–Sep 2012 | 2.5% | 4% | 4% | 4% |
| Apr–Jun 2012 | 2.5% | 4% | 4% | 4% |
| Jan–Mar 2012 | 2.5% | 4% | 4% | 4% |
| Oct–Dec 2011 | 2.5% | 4% | 4% | 4% |
| Jul–Sep 2011 | 2.5% | 4% | 4% | 4% |
| Apr–Jun 2011 | 2.5% | 4% | 4% | 4% |
| Jan–Mar 2011 | 2.5% | 4% | 4% | 4% |
| Oct–Dec 2010 | 2.5% | 4% | 4% | 4% |
| Jul–Sep 2010 | 2.5% | 4% | 4% | 4% |
| Apr–Jun 2010 | 2.5% | 4% | 4% | 4% |
| Jan–Mar 2010 | 2.5% | 4% | 4% | 4% |
| Oct–Dec 2009 | 2.5% | 4% | 4% | 4% |
| Jul–Sep 2009 | 2.5% | 4% | 4% | 4% |
| Apr–Jun 2009 | 2.5% | 4% | 4% | 4% |
| Jan–Mar 2009 | 2.5% | 4% | 4% | 4% |
| Oct–Dec 2008 | 2.5% | 4% | 4% | 4% |
| Jul–Sep 2008 | 2.5% | 4% | 4% | 4% |
| Apr–Jun 2008 | 2.5% | 4% | 4% | 4% |
| Jan–Mar 2008 | 2.5% | 4% | 4% | 4% |
| Oct–Dec 2007 | 2.5% | 4% | 4% | 4% |
| Jul–Sep 2007 | 2.5% | 4% | 4% | 4% |
| Apr–Jun 2007 | 2.5% | 4% | 4% | 4% |
| Jan–Mar 2007 | 2.5% | 4% | 4% | 4% |
| Oct–Dec 2006 | 2.5% | 4% | 4% | 4% |
| Jul–Sep 2006 | 2.5% | 4% | 4% | 4% |
| Apr–Jun 2006 | 2.5% | 4% | 4% | 4% |
| Jan–Mar 2006 | 2.5% | 4% | 4% | 4% |
| Oct–Dec 2005 | 2.5% | 4% | 4% | 4% |
| Jul–Sep 2005 | 2.5% | 4% | 4% | 4% |
| Apr–Jun 2005 | 2.5% | 4% | 4% | 4% |
| Jan–Mar 2005 | 2.5% | 4% | 4% | 4% |
| Oct–Dec 2004 | 2.5% | 4% | 4% | 4% |
| Jul–Sep 2004 | 2.5% | 4% | 4% | 4% |
| Apr–Jun 2004 | 2.5% | 4% | 4% | 4% |
| Jan–Mar 2004 | 2.5% | 4% | 4% | 4% |
| Oct–Dec 2003 | 2.5% | 4% | 4% | 4% |
| Jul–Sep 2003 | 2.5% | 4% | 4% | 4% |
| Apr–Jun 2003 | 2.5% | 4% | 4% | 4% |
| Jan–Mar 2003 | 2.5% | 4% | 4% | 4% |
| Oct–Dec 2002 | 2.5% | 4% | 4% | 4% |
| Jul–Sep 2002 | 2.5% | 4% | 4% | 4% |
| Apr–Jun 2002 | 2.5% | 4% | 4% | 4% |
| Jan–Mar 2002 | 2.5% | 4% | 4% | 4% |
| Oct–Dec 2001 | 2.5% | 4% | 4% | 4% |
| Jul–Sep 2001 | 2.5% | 4% | 2.5% | 4% |
| Apr–Jun 2001 | 2.5% | 4% | 2.5% | 4% |
| Jan–Mar 2001 | 2.5% | 4% | 2.5% | 4% |
| Oct–Dec 2000 | 2.5% | 4% | 2.5% | 4% |
| Jul–Sep 2000 | 2.5% | 4% | 2.5% | 4% |
| Apr–Jun 2000 | 2.5% | 4% | 2.5% | 4% |
| Jan–Mar 2000 | 2.5% | 4% | 2.5% | 4% |
| Oct–Dec 1999 | 2.5% | 4% | 2.5% | 4% |
| Jul–Sep 1999 | 2.5% | 4% | 2.5% | 4% |
| Jan–Jun 1999 | 4.41% | 5.91% | 4.41% | 5.91% |
| Jul–Dec 1998 | 4.29% | 5.79% | 4.29% | 5.79% |
| Jan–Jun 1998 | 3.48% | 4.73% | 3.48% | 4.73% |
| Jul–Dec 1997 | 3.48% | 4.73% | 3.48% | 4.73% |
| Jan–Jun 1997 | 3.48% | 4.73% | 3.48% | 4.73% |
| Jul–Dec 1996 | 3.48% | 4.73% | 3.48% | 4.73% |
| Jan–Jun 1996 | 3.52% | 4.77% | 3.52% | 4.77% |
| Jul–Dec 1995 | 3.82% | 5.07% | 3.82% | 5.07% |
| Jan–Jun 1995 | 3.1% | 3.1% | 3.1% | 3.1% |
| Jul–Dec 1994 | 2.5% | 2.5% | 2.5% | 2.5% |
| Jan–Jun 1994 | 2.5% | 2.5% | 2.5% | 2.5% |
| Jul–Dec 1993 | 2.5% | 2.5% | 2.5% | 2.5% |
| Jan–Jun 1993 | 2.62% | 2.62% | 2.62% | 2.62% |
| Jul–Dec 1992 | 3.31% | 3.31% | 3.31% | 3.31% |
| Jan–Jun 1992 | 4.59% | 4.59% | 4.59% | 4.59% |
| Jul–Dec 1991 | 4.54% | 4.54% | 4.54% | 4.54% |
| Jan–Jun 1991 | 4.85% | 4.85% | 4.85% | 4.85% |
| Jul–Dec 1990 | 3.88% | 3.88% | 3.88% | 3.88% |
| Jan–Jun 1990 | 3.77% | 3.77% | 3.77% | 3.77% |
| Jul–Dec 1989 | 3.39% | 3.39% | 3.39% | 3.39% |
| Jan–Jun 1989 | 3.1% | 3.1% | 3.1% | 3.1% |
| Jul–Dec 1988 | 2.96% | 2.96% | 2.96% | 2.96% |
| Jan–Jun 1988 | 3.19% | 3.19% | 3.19% | 3.19% |
| Jul–Dec 1987 | 3.31% | 3.31% | 3.31% | 3.31% |
| Jan–Jun 1987 | 4.34% | 4.34% | 4.34% | 4.34% |
| Jul–Dec 1986 | 5.38% | 5.38% | 5.38% | – |
| Mar–Jun 1986 | 5.78% | 5.78% | 5.78% | – |
| Jan–Feb 1986 | 6.5% | 6.5% | 6.5% | – |
| 1984–1985 | 6.5% | 6.5% | 6.5% | – |
| 1977–1983 | 6.5% | 6.5% | – | – |
| 1974–1976 | 6.5% | – | – | – |
| 1970–1973 | 5.75% | – | – | – |
| 1967–1969 | 5.5% | – | – | – |
| 1964–1966 | 5.25% | – | – | – |
| 1963 | 5% | – | – | – |
| 1955–1962 | 2.5% | – | – | – |
Before July 1999 the rates were set every 6 months or less often; from 1995 to 1999 the SA and RA paid 1.25 to 1.5 points over the OA; MediSave earned the OA rate until October 2001. RA rates from 2010 to 2023 were the RA’s own (its bonds’ coupons, never under 4%). From CPF Board’s interest rate history and its quarterly releases.
Every period since 1955, with the formula figures CPF published: download the CSV (opens in any spreadsheet).
CPF interest in plain words
- Ordinary Account (OA): for housing, education and investing. It earns the major local banks’ deposit rates (80% of their 12-month fixed deposit rates, 20% of their savings rates, averaged over 3 months), but never less than 2.5% a year, the minimum set by law.
- Special, MediSave and Retirement Accounts (SA, MA, RA): for retirement and healthcare. They earn the 10-year Singapore Government Securities yield averaged over 12 months, plus 1 point, but not less than 4% while the Government keeps the floor. The RA has followed the same formula since January 2024.
- Extra interest: 1 point more on the first $60,000 of your combined balances, of which no more than $20,000 can come from the OA. From 55: 2 points more on the first $30,000 and 1 point more on the next $30,000.
- The Special Account closes at 55. Since 19 January 2025, members aged 55 and over have no SA: its savings went into the RA up to the Full Retirement Sum, and the rest into the OA.
- The HDB concessionary loan rate is set 0.1 point above the OA rate, so it moves only when the OA rate does.
Questions people ask
What are the CPF interest rates now?
From 1 Oct to 31 Dec 2026, CPF pays 2.5% a year on the Ordinary Account and 4% on the Special, MediSave and Retirement Accounts. On top, you get 1% more on the first $60,000 of your combined balances (up to $20,000 of it from the OA), or from 55, 2% more on the first $30,000 and 1% more on the next $30,000.
How is CPF interest worked out, and when is it paid?
CPF works interest out every month and credits it to your accounts once a year, by the following year, where it compounds. Contributions that arrive in a month start earning interest the next month; money taken out in a month stops earning from that month. (CPF Board)
Why is the OA rate always 2.5%?
Because CPF’s formula, from the major local banks’ deposit rates, has given less than 2.5% in every quarter since July 1999; for Oct–Dec 2026 it gave 0.32%. The law sets 2.5% as the OA’s minimum, so that is what it pays. It would rise only if the banks’ rates rose far enough for the formula to pass 2.5%.
Will the 4% floor on the SA, MA and RA end?
The Government has announced each extension in September. The latest, on 22 September 2026, keeps the 4% floor until 31 December 2027. It has been extended every year in the releases CPF Board lists since 2015.
Should I move OA money to my SA for the higher rate?
The SA pays 1.5 points more than the OA this quarter (4% against 2.5%), and the calculator above shows what that is worth on your balances. But CPF says the transfer is immediate and cannot be reversed, the money can no longer be used for housing, and transfers get no tax relief. Members under 55 transfer to the SA; from 55, to the RA. (CPF Board) This page shows numbers, not advice on what to do.
How else can I earn more CPF interest?
By topping up in cash. Under 55, you can top up your SA up to the current Full Retirement Sum, less what is already in it; from 55, your RA up to the current Enhanced Retirement Sum, less your RA savings. The money then earns the SA or RA rate above, and counts towards extra interest within the first $60,000. A top-up cannot be taken back. (CPF Board terms)
Each year you can get income tax relief of up to $8,000 for top-ups to your own SA or RA, and up to another $8,000 for top-ups to your family’s, but only up to the current year’s Full Retirement Sum. The $8,000 is shared with cash top-ups to MediSave, and since 1 January 2025 top-ups that get the Matched Retirement Savings Scheme grant get no tax relief. (CPF Board)
Can I put OA money into T-bills instead?
Yes, under the CPF Investment Scheme, with the savings above the first $20,000 in your OA (CPF Board). The money stops earning OA interest while it is out, and the agent bank charges fees, so compare with the OA rate above. Our T-bill calculator works it out for your amount.
What happened to my Special Account when I turned 55?
From 19 January 2025 the SA closes for members aged 55 and over. Its savings were moved into the Retirement Account up to the Full Retirement Sum, and anything above that into the OA, where it earns the OA rate. (CPF Board)
Is the HDB loan rate linked to CPF?
Yes. HDB’s concessionary loan rate is 0.1 point above the OA rate, so with the OA at 2.5% it is 2.6%, and it is reviewed every quarter with the CPF rates. Bank loans follow SORA instead: see SORA and your home loan.
How we get these numbers
Each hour from 9 am to 9 pm we read CPF Board’s Earning CPF interest page (the rates in force and CPF’s calculated rates in its footnotes) and its news list. Once a day we download MAS’s daily 10-year government bond yields and work out the Special, MediSave and Retirement formula the way CPF describes it: the average of every day’s 10-year yield over the 12 months that end 3 months before the quarter starts, plus 1 point. For every quarter we have MAS’s daily yields for, our figure rounds to CPF’s published one in 4 of 4. If one ever does not, the page keeps CPF’s figure and we look into it.
We cannot repeat the Ordinary Account formula ourselves: it averages the major local banks’ rates in CPF’s own way. We show CPF’s figure for it; it has been below the 2.5% minimum in every quarter since July 1999.
- The rates for each past period are CPF Board’s, from its interest rate history (to September 2024) and its rates page and news release for each quarter since.
- The calculator uses this quarter’s rates for a whole year on balances that stay the same, with CPF’s extra-interest rules. CPF’s own figures will differ with your contributions, withdrawals and the rates in later quarters.
- This page shows numbers, not advice. See our disclaimer, how we get our numbers and corrections.
Disclosure: the editor, Jeremiah Say, has CPF accounts like every working Singaporean. Numbers.sg is not paid by CPF Board, MAS or any bank.
CPF interest rates are from CPF Board’s website (terms of use). Contains information from SGS benchmark yields accessed on 26 Oct 2026 from the Monetary Authority of Singapore website, made available under the MAS Terms of Use. Numbers.sg is independent and is not endorsed by CPF Board or MAS.
Changes to this page
New: CPF interest rates. This quarter’s OA, SA, MediSave and RA rates from CPF Board, the extra interest on your first $60,000, a calculator for what your balances earn in a year, our estimate of next quarter’s rate from MAS’s bond yields, and every rate since 1955 (CSV). Email alerts when CPF announces new rates. See CPF interest rates