CPF Interest Rates in Singapore: OA, SA, MA and RA Rates Explained [2026]

From 1 October to 31 December 2026, CPF pays 2.5% a year on Ordinary Account (OA) savings and 4% a year on Special, MediSave and Retirement Account (SMRA) savings. Both rates have stayed at those levels in every quarter of 2026, and both are floor rates: the market formulas behind them point lower, so the Government minimums apply.

The CPF interest rate is the annual rate the CPF Board pays on each account, reviewed every quarter and pegged to market yields with a minimum. On 22 September 2026, the Government extended the 4% floor on SMRA savings for another year, to 31 December 2027. That fixes the minimum rate on retirement and healthcare savings for at least five more quarters.

On top of the base rate, the Government pays extra interest on the first S$60,000 of your combined balances, and the tiers are more generous once you turn 55. The way CPF computes interest each month, and the account your money sits in, also change how much you earn in a year.

Three layers decide your CPF interest: the base rate on each account, the extra interest on the first S$60,000, and the switch at age 55, when the SA closes and savings move to the RA or the OA. Each layer depends on your age and on how your balances are split, so two members with the same total savings can earn different amounts.

This guide explains the 2026 rates for each account, how the OA and SMRA rates are set, the extra interest tiers with worked examples, how interest is computed and credited, compounding over 5 to 30 years, and what changes when you turn 55.

CPF interest rates at a glance

The October to December 2026 rates are the same as in the first three quarters of the year.

Source: CPF Board CPF interest rates, CPF Board extra interest, CPF Board interest computation (as of 19 October 2026)

CPF interest rates for October to December 2026

Each CPF account has a job, and its interest rate reflects how long the money is expected to stay in. The OA funds housing, education and approved investments, so it earns the short-term rate. The SA, MA and RA hold money for retirement and healthcare, which is locked in for longer and earns the long-term rate.

CPF base interest rates for October to December 2026: OA 2.5%, SA 4%, MA 4% and RA 4% a year

The SA only exists for members below 55. Since 19 January 2025, the SA closes at 55 and a Retirement Account is created in its place, so a member aged 55 or above has an OA, an MA and an RA.

CPF interest rates in each quarter of 2026

CPF announces rates for the coming quarter roughly a month or more before it starts. In 2026, every announcement kept the same figures, because both pegged rates stayed below their floors.

Source: MOH Q1 2026 CPF interest rates, CPF Board Q2 2026, CPF Board Q3 2026, CPF Board Q4 2026 (as of 19 October 2026)

The HDB concessionary loan rate is pegged at 0.1 percentage point above the OA rate, so it has sat at 2.6% all year. If the OA rate ever rises above its floor, HDB borrowers on concessionary loans would see their loan rate rise with it.

How CPF interest rates are set

CPF uses two separate formulas, one for the OA and one for the SMRA, and each has a minimum. The rate you receive is whichever is higher: the formula result or the floor.

The OA rate formula

The OA rate is based on the 3-month average of major local banks' interest rates, with a legislated minimum of 2.5% a year. For the October to December 2026 quarter, the average bank rate for May to July 2026 was about 0.32%. That is well below 2.5%, so the floor applies.

The SMRA rate formula

The SMRA rate is the 12-month average yield of 10-year Singapore Government Securities (10YSGS) plus 1 percentage point, with a floor of 4% a year. The 10YSGS average from August 2025 to July 2026 was 2.06%. Adding 1 point gives 3.06%, which is below 4%, so the floor applies here too.

Source: CPF Board how CPF interest rates are determined (as of 19 October 2026)

On Q4 2026 inputs, the floor adds about 2.2 points to the OA rate and about 0.9 point to the SMRA rate. For SMRA savings, the 4% floor is a time-limited Government decision that has been renewed year by year, and the latest renewal runs to the end of 2027.

How much extra CPF interest can you earn?

Extra interest is paid by the Government on top of the base rate, on the first S$60,000 of your combined CPF balances. The tiers depend on your age.

Source: CPF Board extra interest on CPF savings (as of 19 October 2026)

The OA is capped at S$20,000 for this purpose because OA savings are meant for shorter-term needs such as housing and education. Members aged 55 and above who have joined CPF LIFE still earn extra interest on their combined balances, including the savings used for CPF LIFE.

Extra CPF interest raises the first S$60,000 to 5% below 55, and to 6% on the first S$30,000 and 5% on the next S$30,000 from 55

The order in which balances count

CPF fills the S$60,000 in a fixed order: RA first, then OA up to S$20,000, then SA, then MA. The order matters for members aged 55 and above, because the first S$30,000 earns the higher 2% tier. A member with a large RA uses up both tiers on RA money alone, and the OA and MA earn base interest only.

This is also where the "up to 6%" figure comes from. RA savings earn 4% base plus 2% extra on the first S$30,000, so that slice earns 6%. The next S$30,000 earns 5%, and everything above S$60,000 earns the 4% base. On OA money, the effective rate on the counted portion is 2.5% plus the extra interest, which is paid into the SA or RA.

Worked example: a member below 55

Take a 35-year-old with S$30,000 in the OA, S$25,000 in the SA and S$15,000 in the MA, all held for a full year. Only S$20,000 of the OA counts, and the S$60,000 is filled by S$20,000 of OA, S$25,000 of SA and S$15,000 of MA.

Example only, based on CPF Board CPF interest rates and CPF Board extra interest (as of 19 October 2026). Assumes constant balances for 12 months and Q4 2026 rates for the whole year.

Total interest for the year is S$2,950 on S$70,000, an overall return of about 4.2%. The S$10,000 of OA above the S$20,000 cap earns only the 2.5% base.

Worked example: two members aged 55 and above

The order of counting produces different results for older members. Member A, aged 60, has S$100,000 in the RA, S$10,000 in the OA and S$40,000 in the MA. Member B, aged 58, has S$20,000 in the RA, S$15,000 in the OA and S$30,000 in the MA.

Example only, based on CPF Board CPF interest rates and CPF Board extra interest (as of 19 October 2026). Assumes constant balances for 12 months and Q4 2026 rates for the whole year.

Both members receive the maximum S$900 of extra interest, which is 2% of S$30,000 plus 1% of S$30,000. For Member A, the whole S$60,000 is RA money, so the OA and MA earn base interest only. For Member B, the RA fills S$20,000 of the 2% tier, the OA takes the last S$10,000 of that tier and S$5,000 of the 1% tier, and the MA fills the remaining S$25,000.

Once your combined balances pass S$60,000, the extra interest stops growing. Below 55 the maximum is S$600 a year, and from 55 it is S$900 a year.

How CPF calculates and credits interest

CPF interest is computed monthly, compounded annually and credited to your accounts by the following year. The "per year" rate is an annual rate applied to each month's balance, and the interest appears in your accounts once the year closes.

Timing inside the year also matters. Contributions and refunds received in a month start earning interest from the next month, while withdrawals or deductions made in a month stop earning interest from that same month. Money that arrives late in the year earns very little in that year.

Example only, based on CPF Board interest computation (as of 19 October 2026). Assumes a 4% annual rate applied as one twelfth per month, and no extra interest.

The same S$10,000 earns S$366.67 more in its first year when it arrives in January instead of December. From the second year onwards, all three amounts earn the full rate. Members planning a voluntary top-up for the year can use this to decide when to move the money, bearing in mind any tax-relief deadlines that apply to the top-up itself.

Compounding happens once a year. Interest earned in 2026 is added to your balance and starts earning interest in 2027, so the effect builds slowly at first and much faster over decades.

CPF compounding over 5, 10, 20 and 30 years

The gap between 2.5% and 4% looks small in a single year: 1.5 points on S$50,000 is S$750. Over decades, annual compounding turns it into a large difference in the final balance.

Example only, based on CPF Board CPF interest rates and CPF Board interest computation (as of 19 October 2026). Assumes a S$50,000 starting balance, fixed rates, annual compounding and no contributions or withdrawals.

After 20 years, the same S$50,000 is worth S$27,625 more at 4% than at 2.5%. The 5% and 6% columns show what the extra interest tiers would do if a balance earned them in full, which only happens on the first S$30,000 or S$60,000 of combined balances. A S$50,000 RA balance for a member aged 55 or above, for example, earns 6% on its first S$30,000 and 5% on the remaining S$20,000.

S$50,000 compounded at 2.5% and 4% grows to S$81,931 and S$109,556 after 20 years

The formula behind each figure is balance after n years = starting balance × (1 + rate) ^ n. You can reproduce any row in a spreadsheet with your own balance and rate. Real CPF balances also rise with monthly contributions and fall with withdrawals for housing or healthcare.

What changes to CPF interest when you turn 55

Turning 55 changes both your accounts and your extra interest tier. Your SA closes on your 55th birthday and an RA is created. SA savings up to your Full Retirement Sum (FRS) move to the RA, and if you have set aside the FRS, the rest moves to the OA, where you can withdraw it on demand.

The interest effect follows from where the money lands. Savings in the RA keep the long-term rate of 4%. Any SA savings that move to the OA switch to the short-term rate of 2.5%, because savings that can be withdrawn on demand earn the short-term rate. For a member who turns 55 in 2026, the cohort FRS is S$220,400.

At the same time, your extra interest moves to the higher 55-and-above tiers, so the first S$30,000 of combined balances now earns 2% extra. If you keep money in the OA after 55 and do not need it, it earns 2.5% base, and only S$20,000 of it counts towards extra interest. The closure also has its own rules for CPFIS-SA investments and for contributions made after 55, so read them before your birthday.

Can CPF interest rates change after 2026?

Both rates are reviewed every quarter, so they can change at the start of any quarter. The legislated 2.5% minimum on the OA has no end date. The 4% SMRA floor has been extended to 31 December 2027, and the Government will decide later whether to extend it again.

On Q4 2026 inputs, the SMRA formula produced 3.06%, so long-term Singapore Government Securities yields would have to rise by about 0.94 point on a 12-month average before the formula pays more than the floor. For the OA, average bank rates of about 0.32% would need to rise above 2.5%.

Check the rates each quarter if you are deciding whether to keep money in the OA, use it for housing, or invest it. CPF publishes each quarter's rates on its interest rates page.

Where CPF interest fits in your wider savings

CPF interest is attractive for money you will not need until retirement. The trade-off is access: SA and RA savings are locked away for long periods, and the RA funds monthly CPF LIFE payouts from your payout eligibility age. OA money is more flexible but earns 2.5%.

Money outside CPF has a different job. Savings you might need within a year or two usually sit in cash or short-term deposits, where the priority is access. For goals that are many years away, such as retiring before CPF payouts start, a diversified investment portfolio aims for growth above cash rates, with the risk that its value goes up and down along the way.

One way to divide it is to treat CPF as the floor-protected base and your own investments as the growth layer. How much goes to each depends on your age, your housing plans and how much income you want before and after CPF LIFE begins.

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Frequently asked questions

Short answers to common questions about CPF interest rates in 2026.

What is the CPF OA interest rate now?

The OA pays 2.5% a year from 1 October to 31 December 2026, the legislated minimum. The OA formula, based on major local banks' rates, produced only about 0.32%, so the floor applies.

Does the CPF RA earn 6%?

Only on part of the balance. The RA earns 4% base, and members aged 55 and above get 2% extra on the first S$30,000 and 1% extra on the next S$30,000 of combined balances, so the first S$30,000 earns 6% and the next S$30,000 earns 5%. RA savings above S$60,000 earn 4%.

Is the CPF 4% interest rate guaranteed forever?

The 4% floor on SA, MA and RA savings currently runs to 31 December 2027.

Does the CPF SA still exist after 55?

No. Since 19 January 2025, the SA closes on your 55th birthday, and savings move to the new RA up to your FRS, with any remainder going to the OA. Members below 55 keep their SA and continue to earn 4% on it.

When is CPF interest credited?

Interest is computed every month and credited to your accounts by the following year, with annual compounding. Your 2026 interest therefore shows up in early 2027 and starts earning interest from then.

Why is my CPF interest lower than balance × rate?

Usually because of timing. Money received in a month earns interest only from the next month, and money withdrawn stops earning from the month it leaves, so a December contribution earns nothing for that year. The OA's 2.5% rate on balances above S$20,000 also pulls the blended figure down.

Does extra interest on my OA stay in the OA?

It does not. Extra interest earned on OA savings is paid into your SA, or your RA if you are 55 or above, to add to your retirement savings. The base 2.5% interest on the OA stays in the OA.