How Much Baby Bonus Do Parents Get In Singapore


In Singapore, people who have a baby are eligible for the Baby Bonus scheme. This is a government-sponsored programme that provides financial assistance to parents to help them with the costs of raising their children.

The sums you can get aren’t negligible, but the programme has its limitations.

Raising a child in Singapore is expensive and sometimes, parents need an extra hand for their financial difficulties.

You need to be prepared: this blog post will discuss the different amounts that parents can receive under the Baby Bonus Scheme and how you can counteract the downsides.

Keep reading below!

What’s the Baby Bonus Scheme in Singapore?

What Is-the-Baby-Bonus-Scheme-in-Singapore-Katong-Credit

The Baby Bonus Scheme is a government grant for parents. This program has two components: Baby Bonus Cash Gift and a Child Development Account.

We’ll discuss these in the following sections:

Baby Bonus Cash Gift

You will get this cash gift from the government when you have a baby. The amount that you will receive is:

  • $8000 for your first and second child
  • $10,000 for your third and subsequent children

The eligibility conditions to get this baby bonus include:

  • The baby is a Singapore Citizen
  • The parents are legally married

As you can see, the requirements are relatively basic so that you can easily apply.

However, you won’t get all your money at once. That can be an advantage because you will have more installments as your baby grows and adapts. To get quick cash for your children’s education, you can apply here.

New parents especially don’t really know what to expect after their baby comes. As such, they may be tempted to invest in too many baby clothes, toys, or furniture that their baby dislikes.

Here’s how the bonus is split:

  • $3,000: 7-10 days after joining the programme
  • $1,500 each: when your baby turns six, respectively 12 months
  • $1,000 each: when your baby turns 15, respectively 18 months

For the third and subsequent children, the bonus is split like this:

  • $4,000: 7-10 days after joining the programme
  • $2,000 each: when your baby turns six, respectively 12 months
  • $1,000 each: when your baby turns 15, respectively 18 months

Child Development Account

The Child Development Account (CDA) is a savings account for your baby.

You can use this money to pay for your child’s educational and healthcare expenses when they are older.

Here’s how it works:

The government will match the money that you save, up to a certain amount. For every dollar that you save, the government will give you another one.

To get started, you need to open a CDA account at one of these banks:

  • OCBC
  • UOB

Bonus: Eligible children receive a $3,000 CDA First Step Grant without any savings.

You’ll get this bonus deposited into your baby’s CDA account.

Government co-matching of parents’ savings

Singapore’s government matches the savings that parents make into their child’s development account (CDA), up to a certain amount. For every dollar you save, the government will give you another one.

There’s a catch though, the government’s amount depends on how many children you have.

  • One child: $3,000
  • Two children: $6,000
  • Three and four children: $9,000
  • Five and more children: $15,000

You can make deposits into this CDA account for your children until December 31st, the year they become 12.

There is a downside to this program though. You can only use this money for some education in approved centres and medical expenses. That’s a significant inconvenience because children need much more than that.

The government’s list includes the following approved spending:

  • Charges at registered:
    • Childcare centres
    • Kindergartens
    • Special education schools
    • Early intervention programmes
  • Medical expenses at:
    • Hospitals
    • General Practitioner clinics
    • Healthcare items at pharmacies
  • Premiums for MediShield Life or MediSave-approved private integrated plans
  • Assistive technology devices
  • Eye-related products and services at optical shops

Visit the Ministry of Social and Family Development’s Approved Institution webpage for the full list of organisations where the CDA savings can be used at. For education centres that are not included in the list, parents can consider taking a private loan for the expenses.


What happens to the savings you don’t spend after your children turn twelve?


The money doesn’t disappear from your account – that’s the good news. Instead, it gets automatically transferred to your children’s Post-Secondary Education Account.

This account allows you to:

  • Cover the costs of certain programmes in specific institutions
  • Reimburse Government education loans and financial schemes

If you haven’t reached the cap for this account with the CDA leftover money, you can continue making deposits. The government will give you the matching amount when:

  • You’ve reached the account’s upper limit, or:
  • Your child becomes 18 years old.


Baby Bonus Scheme Wrap Up


The Baby Bonus Scheme is a genuine help for people planning to grow a family.

The programme helps with the financial costs of having a baby and encourages parents to save for their child’s future.

However, the Scheme has limitations.

You can only use the CDA savings for your kids’ healthcare and education at approved institutions. But your children also need furniture, clothes, entertainment and different forms of healthcare.

Katong Credit is here for you when you need that extra cash. Our interest rates are low, and we offer quick, customised loans to help you with the costs of baby-rearing.

Find out more about us and apply via Singpass here.