CPF Ordinary Account

[coutuser]

can transfer money from oridinary to saving and medisave account to earn more interest?

Any disadvantage?

 

[FreedomAngelz]

can transfer money from oridinary to saving and medisave account to earn more interest?

Any disadvantage?

Got saving meh?

Special account you mean?

Your first $20,000 in Ordinary account cannot be transfer....Special account give slightly higher interest but you be bind with a lot less option in utilising it.

 

[OngHuatHuat]

Cna transfer all.

Got saving meh?

Special account you mean?

Your first $20,000 in Ordinary account cannot be transfer....Special account give slightly higher interest but you be bind with a lot less option in utilising it.

 

[coutuser]

Got saving meh?

Special account you mean?

Your first $20,000 in Ordinary account cannot be transfer....Special account give slightly higher interest but you be bind with a lot less option in utilising it.

Ya. Special account. What is the a lot less option?

 

[anfielder]

the transfers are irreversible and you will not be able to use the money for education, housing, etc.

 

[sid4iwpa]

this is my advice:
for young pple (or new couples), do not transfer OA to SA becos u can use OA to buy house and for other purposes. the trsf is irrevocable and the money will be locked down until u retire.

if u have already bought your house, or no need to use OA for any purposes, it is a good idea to trsf OA to SA as the interest rates is higher.

also, if i am not wrong, i think there is a cap as to how much u can trsf to SA. u can check the CPF website for the cap b4 trsf.