Baby Bonus (CDA): Who Qualifies and What You Get
Learn how parents of Singaporean children can receive cash gifts and matching savings for their child's development account.
The Baby Bonus (CDA) is a government initiative designed to provide financial support to families through a combination of cash gifts and matching savings for a child's development account.
Who it's for
This scheme is specifically for the parents of Singaporean children. If you are a parent of a child with Singaporean citizenship, you may qualify for these benefits to help manage the costs associated with your child's early years.
What you get
When you qualify, you receive two distinct types of financial support. First, you receive a cash gift to assist with immediate needs. Second, the government provides matching savings that are credited into the child's Child Development Account (CDA). This matching component is designed to grow the total amount of savings available for your child's future needs.
What it costs you
There is no monetary fee required to access this scheme. The primary requirement is the administrative step of completing the registration of your child's birth. Once the birth is officially registered, the process for accessing the benefits can proceed.
The catch to know
It is important to understand that the money in the account is not a general-purpose fund. The main catch is that these funds can only be used at approved institutions. You must ensure that the services or goods you are paying for are from an institution that is officially recognized to accept these specific funds.
How to apply
- Complete the official registration of your child's birth.
- Set up the Child Development Account (CDA) for your newborn.
- Verify that the institutions you plan to use are approved for CDA transactions.
- Check the official government portal for current details on how to claim and manage your funds.