FAQ on Child Development Account (CDA)

The CDA* is a special savings account for children to help build up the savings that can be spent on approved uses.

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

You can deposit cash into the CDA any time until 31 December of the year your child turns 12 years of age.

For more information on CDA, please visit www.babybonus.msf.gov.sg or ask 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 he/she turns 12 years old)
  • Parents are lawfully married

The CDA comprises of two benefits - the CDA First Step Grant and the Government Dollar-for-Dollar Matching.

Under the CDA First Step Grant, parents will receive an initial amount of $3,000 (from the Government’s existing contribution caps) which will be deposited into your child’s account.

Parents who continue to save beyond this initial amount will enjoy the Government Dollar-for- Dollar Matching as follows:

Child Order CDA Benefits Total CDA Benefits
CDA First Step Dollar-for-Dollar Matching
1st & 2nd
Child
$3,000 Up to $3,000 Up to $6,000
3rd & 4th
Child
Up to $9,000 Up to $12,000
5th Child
and higher
Up to $15,000 Up to $18,000

The amount from the Government Dollar-for-Dollar Matching will be deposited into your child’s CDA account the following month.

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

Singaporean children born from 24 March 2016 who are Singaporean Citizens (or become a citizen before turning 12 years old) and have lawfully 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:


Child Order
CDA Benefits
Total CDA Benefits
CDA First Step Dollar-for-Dollar
matching
1st & 2nd Child

$3,000
Up to $3,000 Up,to $6,000
3rd & 4th Child Up to $9,000 Up,to $12,000
5th Child and higher Up to $15,000 Up,to $18,000

For more information on CDA, please visit www.babybonus.msf.gov.sg or ask 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)
      • Parents are lawfully married

You may utilise your child’s CDA First Step Grant of an initial amount of $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 feels till your child turns 12 years old*.


*Terms and conditions apply.

Upon enrolment with Cordlife, you will be given different payment options to choose from. If you would like to use your child’s CDA to pay for Cordlife’s cord blood banking service, please kindly indicate that option.

In the application form, you may choose to sign up with either:


Along with your application form, you will need to fill up an Authorisation Letter to authorise Cordlife to deduct the payment from your child’s CDA.

This is to be done only once for each CDA. You need not resubmit the forms to Cordlife for your subsequent billing.

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 upon enrolment. However, we will request for your credit card details.

In the event that your child’s CDA application is not approved by the bank within two (2) months from your child’s date of birth, Cordlife will charge the payable fees to the credit card provided.

No, there is no limit. You can use your child’s CDA which includes the CDA First Step Grant of $3,000 as well as the Government Dollar-for-Dollar Matching to subsidise your child’s cord blood banking service with Cordlife.

You can utilise the cash in the CDA until 31 December of the year your child turns 12 years of age.

After which, the account will be automatically converted into a Post-Secondary Education Account (PSEA) for your child.

Yes, you may. You may choose to open an account with either OCBC Bank, DBS Bank or UOB Bank.

Kindly download and fill up any of the following application forms:

In addition, you will need to fill up an Authorisation Letter to authorise Cordlife to deduct the payment from your child’s CDA.

Please send both the original completed and signed forms back to Cordlife at the following address 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 terminate your inter-bank GIRO used for your child’s CDA with us, please contact the bank which you opened the CDA with, and inform Cordlife at 6238 0808 or email customercare@cordlife.com.