Published:
Sorry, gramps: CPF interest rates won’t be increasing this year
Since banks have low interest rates, too.
Major banks are keeping their interest rates at low levels, forcing the CPF board to also maintain the interest rates low.
According to the CPF board, they increase interest rates on the Ordinary Account when the interest rates of major banks is higher than their rates but when the major banks have low interest rates, the CPF will sell their rates at the minimum of 2.5%.
The CPF board are keeping rates at 2.5% for the Ordinary Account and 4% on Special, Medisave and Retirement Accounts at least until 31 December.
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