Baby Bonus

Baby Bonus Scheme in Singapore consists of cash gift from government and child devleopment account in which saving can be used at approved institutions on approved uses.

The money in the Child Development Account cannot be withdrawn in cash. Withdrawal can be made via Interbank GIRO or NETS at Approved Institutions (AIs).

If your child is not a Singaporean at birth. The amount of cash gift will be pro-rated according to the date that a child converts to Singapore citizenship.

If your child is not a Singaporean at birth. The amount of benefits will be pro-rated according to the date that a child converts to Singapore citizenship

Unused saving in the child development account will be transferred to post-secondary educational account

Funds in the Child Development Account can be used for Singapore Dollars fixed or time deposit account, but before you can make this investment