FAQ on Child Development Account

The CDA is a special savings account for your child, and the funds in the account can only be spent on approved uses.*

Your child's CDA can be opened at any OCBC, DBS, or UOB branch.

You can deposit cash into the CDA at any time until the 31st of December of the year that your child turns 12.

For more information on CDA, please visit www.babybonus.msf.gov.sg or speak with one of our friendly consultants today.

*A child is eligible to apply for a CDA if he/she is:

• Born on or after 17 August 2008
• A Singaporean citizen (or becomes a citizen before the age of 12)
• The parents are legally married

The CDA has two components: the CDA First Step Grant and the Government Dollar-for-Dollar Matching.

The CDA First Step Grant will provide parents with an initial amount of S$3,000 (from the government's existing contribution caps), which will be deposited into your child's account.

Parents who save more than the initial amount will benefit from the Government Dollar-for-Dollar Matching as follows:

The matching contribution from the government will be deposited into your child's CDA account the following month.

The CDA First Step Grant is a new grant of S$3,000 for eligible Singaporean children born after 24 March 2016. It is paid into the child's CDA and forms part of the existing overall government contribution cap.

Singaporean children born on or after 24 March 2016, who are Singapore citizens (or become citizens before turning 12 years old) and have legally married parents are eligible for the CDA benefits.

The CDA First Step Grant is part of the current government cap.

Beyond this grant, parents who contribute to the child's CDA will continue to receive dollar-for-dollar matching from the government, up to the existing government co-matching contribution caps as follows:

For more information on CDA, please visit www.babybonus.msf.gov.sg or speak with one of our friendly consultants today.

A child is eligible if he/she is:

• Born on or after 17 August 2008
• A Singaporean citizen (or becomes a citizen before he/she turns 12 years old)
• The parents are legally married

You can use your child's CDA First Step Grant of S$3,000 (which comes from the government's existing contribution caps) and the Government Dollar-for-Dollar Matching (for parents who continue to save beyond the initial amount) to subsidise both your initial one-time enrolment fee and subsequent annual fees until your child reaches the age of 12.*

*Terms and conditions apply

When you enrol with Cordlife, you can specify that you want to use your child's CDA to pay for our cord blood banking service.

In the application form, you may choose to sign up with one of the approved banks below:

• OCBC bank application form
• DBS bank application form
• UOB bank application form

You will need to complete an authorisation letter with your application form to authorise Cordlife to deduct the payment from your child's CDA.

This only needs to be done once for each CDA. You do not need to resubmit the forms to Cordlife for future billings.

You will be required to submit a copy of your child's birth certificate, the Trustee's name, and your child's Child Development Account (CDA) number to Cordlife.

No, you are not required to pay at the time of enrolment. However, we will need your credit card information.

If your child's CDA application is not approved by the bank within two (2) months from his/her birth date, Cordlife will charge the applicable fees to the credit card provided.

No, there is no limit. You can use your child's CDA, which includes S$3,000 CDA First Step Grant as well as the Government Dollar-for-Dollar Matching, to pay for cord blood banking.

You can use the cash in the CDA until 31st of December of the year that your child turns 12 years old.

Following that, your child's account will be automatically converted into a Post-Secondary Education Account (PSEA).

You certainly can. You have the option of opening an account with OCBC, DBS or UOB.

Kindly download and complete one of the following application forms:

• OCBC bank application form
• DBS bank application form
• UOB bank application form

In addition, you will need to complete an Authorisation Letter with your application form to authorise Cordlife to deduct the payment from your child's CDA.

Please send both the original completed and signed forms to Cordlife at the address below for processing:

Cordlife Group Limited
Finance Department (CDA Payment)
1 Yishun Industrial Street 1
A'Posh Bizhub
#06-01/09
Singapore 768160

Yes, you can use your child's CDA to pay for his/her sibling's cord blood banking service. Kindly provide the birth certificate of his/her sibling for verification.

If you wish to cancel your inter-bank GIRO used for your child's CDA with us, please contact the bank with which you opened the CDA and notify us at 6238 0808 or customercare@cordlife.com.

You may download the inter-bank GIRO and authorisation form by clicking on one of the links below:

• OCBC bank inter-bank Giro application form
• DBS bank inter-bank Giro application form
• UOB bank inter-bank Giro application form
• Authorisation for CDA