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Old 9th September 2015, 04:35 PM
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Join Date: Apr 2013
Default Re: Standard Chartered CDA

The Child Development Account (CDA) is a special savings account for the children.

The person who manages the CDA on behalf of the child is called the Trustee.

Criteria of a Trustee are:

A parent of the child or another person nominated by both parents of the child;
At least 21 years of age and;

Eligibility
Child is eligible for the Baby Bonus Scheme if he or she is:
A Singapore Citizen or becomes a Singapore Citizen;
Born alive to the mother;
The mother is lawfully married to the child's father.

Features

Special Baby Bonus Card for NETS payment to Approved Institutions registered with the Ministry of Social and Family Development (MSF)

Additional 0.30%p.a. interest above board rates for Singapore Dollar Time Deposits placed using your CDA funds

No monthly fees

No minimum initial deposit or balance

Monthly statements

Pay any bank's credit card bills or access over 300 billing organizations online
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