Baby Bonus

Hi Mommies. Just wanna ask. When you applied for the baby bonus, is it a must to open a bank account and deposit of 3k? Thanks in advance.

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When your baby bonus is approved, 3k will be deposited to either yours or your hubby’s account which you provide during the application (or whoever is the citizen, so ours was deposited to my hubby’s). The CDA can be applied together with the Baby Bonus. For this, you need to select the bank to open it from - OCBC, POSB or UOB. Once it is opened, the 3k will be AUTOMATICALLY credited to the CD Account after 3-5 biz days. After this, you can deposit ANY amount to the CDA. Of which, the gov’t will match UP TO 3k of whatever you deposited. Hope this helps... 😊

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5y ago

Thank you for the info mummy!