CPF Special, MediSave, and Retirement Account interest rates unchanged at 4% for Q2 2025
CPF members will continue earning 4% per annum for their Special, MediSave, and Retirement Accounts (SMRA) in Q2 2025, as the pegged rate remains below the floor rate. The Ordinary Account interest stays at 2.5%, while HDB housing loans remain at 2.6%
SINGAPORE: The Central Provident Fund (CPF) members will continue earning an annual interest of 4 per cent for their Special, MediSave, and Retirement Accounts (SMRA) in the second quarter of 2025.
This remains unchanged from the first quarter, according to a joint statement by the CPF Board and the Housing and Development Board (HDB) on Wednesday (12 March).
The SMRA interest rate is pegged to the 12-month average yield of the 10-year Singapore Government Securities plus 1 per cent.
However, as this pegged rate remains below the floor rate of 4 per cent, CPF members will continue to receive the guaranteed minimum interest.
Similarly, the Ordinary Account (OA) interest rate will remain at the floor rate of 2.5 per cent per annum for the second quarter, as its pegged rate has also stayed below the minimum threshold.
For HDB housing loans, the concessionary interest rate—pegged at 0.1 per cent above the OA interest rate—remains unchanged at 2.6 per cent per annum.
All CPF members will continue to earn extra interest on their savings.
Those aged 55 and above will receive an additional 2 per cent interest on the first S$30,000 of their combined CPF balances, capped at S$20,000 for the OA. They will also receive an extra 1 per cent interest on the next S$30,000.
For members below 55, an additional 1 per cent interest will be paid on the first S$60,000 of their combined balances, with a cap of S$20,000 for the OA.
Any extra interest earned on OA balances will be transferred to the Special Account (SA) or, for those aged 55 and above, the Retirement Account (RA).
Additionally, from 19 January 2025, the Special Accounts of approximately 1.4 million CPF members aged 55 and above were closed.
This move was initially announced by Finance Minister Lawrence Wong in his Budget 2024 speech in Parliament last February.
The CPF Board reassured members that interest rates remain stable and that extra interest provisions will continue to help members grow their retirement savings despite changes in account structures.
