CDA baby bonus

Hi.. i have just delivered 2 weeks ago n applied for baby bonus. I understand there will be a cash gift credited to our account. Once received, do we have to withdraw n deposit into designated baby new OCBC account? People said it cannot be withdrawn. I dont really know how it goes as i am a first time mum. Any help in this please?

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VIP Member

The cash gift is credited to your chosen bank acc. Whether u choose to use the cash or deposit some of the cash into the baby’s cda acc its up to u. Bt if u put into their Cda acc u cant withdraw it back in cash alr.. u cn use it to pay for medical or for sch..

1y ago

Nope

theres a initial 3k cash gift n 3k in cda account, cash gift can use as normal cash but 3k in cda account cannot be withdrawn, if u put in money to cda acc also cannot withdraw