Did you know that the Central Provident Fund (CPF) is Singapore's mandatory social security savings scheme? Learn all the essentials now!
Total wagesAdditional wages subject to CPF contribution (calendar year 2024) Not more than SGD 102,000Annual ordinary wages not more than SGD 81,600*Actual additional wages Annual ordinary wages exceed SGD 81,600*Actual additional wages Exceed SGD 102,000Annual ordinary wages not more than SGD ...
Singapore follows a progressive personal income tax procedure wherein the personal income tax rate startsfrom 0% to 24%on income aboveS$20,000. Filing of tax returns is required if your annual income isS$22,000or more. Starting from YA 2024, the top marginal Personal Income Tax rate will ...
1 December 2024 to 15 December 2024, earn attractive returns when you deposit minimum fresh funds of S$25,000 or US$25,000. CURRENCY MINIMUM PLACEMENT OF FRESH FUNDS TENOR PREFERENTIAL INTEREST RATE (P.A.) SGD S$25,000 1-month 2.30% 3-month 2.50% 6-month 2.50% 9-month 2.25% 12...
From 1971 to 1981, aggregate inflation rate exceeded CPF interest rate. CPF members were shortchanged.6. CPF contribution rates were also increased/decreased to achieve political objectives. In order to create Singapore’s public housing ‘miracle’ in the early years, CPF total contribution rate ...
Businesses will also see an adjustment in their contributions to the Central Provident Fund (CPF) for employees aged 55 to 65, with an increase of 1.5 percentage points set for 2025. For employees aged 55 to 60, the current contribution rate is 31% of monthly wages, and for those aged 60...
BankLoan Trend 2024 Types of Home Loan Packages offered by Banks Fixed Rates Packages: Currently banks are offering fixed rates for 1 to 5 years, thereafter floating rate takes over. Banks are obligated to keep the fixed rates unchanged. Fixed rates are usually preferred by borrowers who prefer...
interest rate in Singapore is between 2.5% - 2.8%. The following table shows the condo mortgage interest rates of some common banks for reference . (Updated on December 24, 2024) *Note: Rates are subject to change; please consult the respective banks for the most current information.Fixed ...
SSGSs are not tradeable. They are only issued to raise income for the Central Provident Fund (CPF). These government-backed securities provide Singapore’sstate pension fundwith a steady income from interest payments. Treasury Bills Treasury bills are short-termdebtinstruments that help the national...
Starting from 1 April 2024, all new applications for MOE-funded loans will be subject to the revised interest rates. The rate adjustments will occur on a half-yearly basis, effective every 1 April and 1 October. Refer to our latest page to understand how the new interest rates may impact ...