Unlike the CPF Special and MediSave Account, which will see an increase in interest rate to 4.01% per annum in the third quarter of this year, the Ordinary Account will remain unchanged at 2.5%. And that’s sparking debate on the need to further increase interest rates to fight inflation!
Joining Dan Koh on Money and Me, is Christopher Tan, CEO, Providend to discuss the significance of the 0.01% increase in interest rates, the odds of the OA rates increasing, and if you should be topping up your CPF accounts or investing your money to beat inflation.
See omnystudio.com/listener for privacy information.
Your Money with Michelle Martin