CPF qn..

[GenerationX]

I read on cpf site that for the 1st 20k is capped for the 1% extra interest. what is the interest if say i have 30K ar? then they say combine is capped @ $60k. that mean $40K is capped for SA MA and RA ?

If example i have 30K OA and 10k in SAm, 8k in MA how to calculate the interest ar? Im confused..

 

[dork32]

I read on cpf site that for the 1st 20k is capped for the 1% extra interest. what is the interest if say i have 30K ar? then they say combine is capped @ $60k. that mean $40K is capped for SA MA and RA ?

If example i have 30K OA and 10k in SAm, 8k in MA how to calculate the interest ar? Im confused..

then u earn 1% on 38k. this 1% will go into SA.

u also earn 2.5% on 30k, 4% on 8+10k

 

[kazejin]

I am also confused on how they calculate the exact interest.
I thought they would calculate using the average daily balance for the year times corresponding interest rate.
But when i tried it on my own CPF, the amount did not tally.

 

[lzydata]

For TS's example, you will earn the extra 1% interest on the $18k in SA and MA and $20k in your OA.

Examples: http://mycpf.cpf.gov.sg/CPF/Templat...4-461A-B9AA-A61396C1D38A}&NRCACHEHINT=Guest#4

I am also confused on how they calculate the exact interest.
I thought they would calculate using the average daily balance for the year times corresponding interest rate.
But when i tried it on my own CPF, the amount did not tally.

CPF interest is computed monthly, based on the lowest balance for the month, and credited annually. Try that?

Portfolio Diversification: Calculating CPF interests

 

[kazejin]

CPF interest is computed monthly, based on the lowest balance for the month, and credited annually. Try that?

Portfolio Diversification: Calculating CPF interests

ah, thanks for that.

 

[GenerationX]

then u earn 1% on 38k. this 1% will go into SA.

u also earn 2.5% on 30k, 4% on 8+10k

o so the extra not to my OA but to SA. SA can withdraw or not? when im old enough..

 

[GenerationX]

so it make no diff in % when i have more then 20k. haha

 

[cscs3]

so it make no diff in % when i have more then 20k. haha

Well, is still higher then any fix deposit you can get from bank.

 

[dork32]

o so the extra not to my OA but to SA. SA can withdraw or not? when im old enough..

sa money will never be withdrawn if you have less than min sum of 155 k. you will use it to buy cpf life.

otherwise, you go die now. then your nok can withdraw for u.

that is y people are protesting at hong lim

 

[dork32]

Well, is still higher then any fix deposit you can get from bank.

I agree that there are no banks that can match the 4% of ma and sa. but the 2.5% of oa is a joke now. ocbc 360 has given 3% me for two months already. no stupid rules on withdrawal like cpf. can use it to buy anything I want

dat is also another reason y pple are protesting

 

[Squaredot]

I am also confused on how they calculate the exact interest.
I thought they would calculate using the average daily balance for the year times corresponding interest rate.
But when i tried it on my own CPF, the amount did not tally.

CPF interest is calculated based on lowest balance of the month, not avg daily balance.