OCBC offers fixed deposit placements for CPF ordinary account savings at 3.4% a year

[SBFNews]

OCBC offers fixed deposit placements for CPF ordinary account savings at 3.4% a year​

WED, NOV 16, 2022 - 9:31 AM

UPDATED WED, NOV 16, 2022 - 5:03 PM
TAY PECK GEK

CPF ordinary savings for fixed deposits are at OCBC at 3.4 per cent per annum.

https://www.businesstimes.com.sg/ba...for-cpf-ordinary-account-savings-at-34-a-year

COMPETITION for cash has gone beyond the savings in customers’ bank accounts, with OCBC : O39 -0.4% now asking Central Provident Fund (CPF) members to convert their ordinary account (OA) savings into fixed deposits at the bank paying 3.4 per cent per annum.
Amid the competition for cash, as savers turn to higher-yielding ...

 

[Peace Maker]

Better to do your calculations well just in case after 1 -2 years the interest rate might fall again below 2.5 %. It will be difficult to put back into cpf ordinary account then.