Baby Bonus & CDA

Finance

The Baby Bonus scheme supports parents with the cost of raising children. It includes a cash gift paid out in stages after a child is born, and the Child Development Account, a special savings account for the child. Savings you put into the CDA are matched by the Government up to a cap that can vary by birth order, and the funds can be used for approved uses like childcare, kindergarten and healthcare at registered institutions. Eligibility generally requires the child to be a Singapore Citizen. Payout amounts, matching caps and approved uses are subject to the latest rules.

Related terms

CPF Accounts (OA / SA / MA)SRS (Supplementary Retirement Scheme)CPF LIFEHDB Loan vs Bank LoanGST (Goods and Services Tax)Income Tax & IRAS