How you can pay for Cord Blood Banking through Child Development Account (CDA)
At Cordlife, you can pay for our cord blood banking packages through your Child Development Account (CDA)* where the amount you contribute to your child's CDA will be matched by the Government, dollar for dollar, up to $6,000 for the first and second child, $12,000 each for the third or fourth child and $18,000 for the fifth child and subsequent child.
For example, if you deposit $500 into the CDA in January 2016, the Government will make the matching contribution of $500 in the following month.
In March 2016, the Government announced the CDA First Step which is a grant of $3,000 for eligible Singaporean children born from 24 March 2016. It is paid automatically into the child’s CDA.
This is of great help since the initial upfront payment for cord blood banking services is funded by the Government.
The remaining balance^ of your cord blood banking package will only be deducted from your CDA approximately 2 months after the delivery of your baby. For more information on CDA, please visit www.babybonus.msf.gov.sg or ask our friendly consultant today!
*A child is eligible for application of a Child Development Account (CDA) if he or she is:
- Born on or after 17 Aug 2008
- A Singapore Citizen;
- The mother is lawfully married to the child's father.
^Remaining balance is dependent on the price plan of your chosen cord blood banking package.