CPF Interest Rate Q2 2026: OA, SA, MA & RA Rates Explained (April–June)
The CPF Board has confirmed that CPF interest rates for Q2 2026 (1 April to 30 June 2026) remain unchanged. The Ordinary Account (OA) stays at 2.5% per annum, and Special, MediSave, and Retirement Accounts (SMRA) remain at 4% per annum — protected by the government’s extended floor rate guarantee through 31 December 2026.
If you’re wondering whether CPF rates changed this quarter, the short answer is: no — but that’s actually good news. Here’s everything you need to know about CPF interest rates for Q2 2026, how they’re calculated, and the strategies you can use to earn more.
Q2 2026 CPF Interest Rates at a Glance
Below are the official CPF interest rates for April to June 2026, as announced by the CPF Board on 11 March 2026:
| Account | Q2 2026 Rate | Q1 2026 Rate | Change |
|---|---|---|---|
| Ordinary Account (OA) | 2.5% p.a. | 2.5% p.a. | — |
| Special Account (SA) | 4.0% p.a. | 4.0% p.a. | — |
| MediSave Account (MA) | 4.0% p.a. | 4.0% p.a. | — |
| Retirement Account (RA) | 4.0% p.a. | 4.0% p.a. | — |
Source: CPF Board — Q2 2026 Interest Rate Announcement
Key takeaway: Rates are stable and the 4% SMRA floor is locked in for all of 2026. Whether you’re comparing CPF to T-bills or considering a top-up, this quarter brings no surprises — but plenty of opportunity.
How Are CPF Interest Rates Calculated?
CPF interest rates are not arbitrarily set — they follow a specific formula reviewed every quarter:
Ordinary Account (OA) Rate
The OA rate is pegged to the 3-month average of major local banks’ interest rates (including DBS, OCBC, and UOB savings rates). Because Singapore banks’ deposit rates are currently low (roughly 0.32% from November 2025 to January 2026), the computed rate would fall well below the CPF floor — so the legislated minimum of 2.5% per annum kicks in.
SMRA Rate (SA, MA, RA)
Special, MediSave, and Retirement Account rates are pegged to the 12-month average yield of 10-Year Singapore Government Securities (10YSGS) plus 1%. With 10YSGS yields currently at levels that would produce a rate below 4%, the 4% government floor rate guarantee applies instead.
The Bottom Line
For most Singaporeans, what this means is simple: CPF rates are essentially government-backed guaranteed returns. You will never earn less than 2.5% on your OA or 4% on your SMRA — regardless of what markets or interest rates do.
Who Earns Bonus CPF Interest in 2026?
Beyond the base rates, CPF members can earn additional bonus interest depending on their age:
Members Below 55 Years Old
You earn an extra 1% per annum on the first S$60,000 of your combined CPF balances (capped at S$20,000 from OA). So effectively:
- First S$20,000 in OA earns: 3.5% p.a. (2.5% + 1% bonus)
- First S$40,000 in SA/MA earns: 5% p.a. (4% + 1% bonus)
Members 55 and Above
Older members get an even bigger boost:
- Extra 2% on the first S$30,000 of combined CPF balances
- Extra 1% on the next S$30,000
This means your RA can earn up to 6% p.a. (4% + 2% bonus) on the first S$30,000 — a powerful incentive to keep money in CPF during your later years.
Members 65 and Above
From age 65, an additional 1% Retirement Account interest is also credited — bringing potential RA returns to 6% p.a. on qualifying balances.
To estimate how much you could accumulate using CPF LIFE, try the CPF LIFE Payout Calculator or see the full guide to CPF investment strategies.
The 4% Floor Rate Extension — What It Means
In March 2026, the government announced it would extend the 4% SMRA floor rate through 31 December 2026. This is important context:
The 10YSGS-linked formula would theoretically yield something close to or below 4% as of Q2 2026 if the floor weren’t in place. The government’s guarantee ensures members aren’t penalised by market movements. This extension has been in place annually since 2008 and is widely expected to continue.
What this means for your planning: You can confidently model CPF SMRA returns at 4% p.a. for the rest of 2026. For those considering retirement planning in Singapore, CPF LIFE’s 4% annuity-backed payout structure remains one of the most reliable income foundations available.
Strategies to Maximise Your CPF Interest in Q2 2026
1. Top Up Your Special Account (SA) or Retirement Account (RA)
Under the CPF Cash Top-Up Scheme (RSTU), you can voluntarily top up your own SA (if below 55) or RA (if 55 and above) with cash. Benefits: you earn 4–5% risk-free, and cash top-ups of up to S$8,000 qualify for tax relief. An additional S$8,000 in top-ups for family members also qualifies — total potential relief: S$16,000 per year.
2. Voluntary CPF OA Top-Up (If You Have Spare Cash)
Even though OA earns “only” 2.5%, the first S$20,000 earns an effective 3.5% with the bonus tier. For risk-averse investors, that beats most bank savings accounts and many fixed deposits for guaranteed, government-backed returns.
3. Transfer OA to SA (if below 55)
You can transfer OA funds to SA — irreversibly — to earn 4% instead of 2.5%. This is a high-impact move if you don’t plan to use OA funds for housing, and want to maximise your retirement nest egg at zero risk.
4. Review Your CPFIS Investments
If you’re investing your OA or SA via the CPF Investment Scheme (CPFIS), remember that you must beat 2.5% (OA) or 4% (SA) net of fees to justify the risk. In a flat or declining equity market, holding cash in CPF may actually outperform many CPFIS portfolios. Use the CPFIS Calculator to compare outcomes.
5. Supplement CPF with Passive Income Instruments
While CPF provides a safe foundation, many Singaporeans also build dividend income via S-REITs (yielding 5–7%) and ETFs via Endowus or Syfe. This blended approach — CPF for guaranteed floor + market instruments for upside — is a popular retirement strategy in Singapore.
CPF Interest vs Other Fixed Income Options in 2026
| Instrument | Approx. Yield (Q2 2026) | Risk | Liquidity |
|---|---|---|---|
| CPF OA (incl. bonus tier) | 2.5% – 3.5% | Zero | Low (age-locked) |
| CPF SA / RA (incl. bonus tier) | 4.0% – 6.0% | Zero | Very Low |
| Singapore T-Bills (6-month) | ~3.0 – 3.5% | Near-zero | Medium (6-month lock) |
| Singapore Savings Bonds (SSB) | ~2.5 – 3.0% | Near-zero | High (redeem anytime) |
| Bank Fixed Deposits (12-month) | ~2.5 – 3.2% | Near-zero | Low (maturity lock) |
| S-REITs (dividend yield) | 5.0% – 7.5% | Medium-High | High (listed) |
Note: T-bill and SSB yields are indicative. Check the latest auction results at The Kopi Notes for current figures.
The verdict: CPF SA/RA at 4–6% remains the best risk-adjusted fixed income rate available to Singaporeans — no credit risk, no lock-up penalty beyond existing CPF rules, and government-guaranteed. T-bills and SSBs offer partial liquidity but lower yields. S-REITs offer higher income but with capital risk.
Frequently Asked Questions
What is the CPF interest rate for Q2 2026?
For Q2 2026 (April 1 to June 30, 2026), the CPF Ordinary Account (OA) earns 2.5% per annum, while the Special Account (SA), MediSave Account (MA), and Retirement Account (RA) all earn 4.0% per annum. These rates are unchanged from Q1 2026.
Did CPF interest rates change in April 2026?
No. CPF interest rates for April to June 2026 remain unchanged from Q1 2026. The OA rate stays at 2.5% p.a. and SMRA rates remain at 4% p.a. under the government’s extended floor rate guarantee.
Why are CPF interest rates staying at 4% for SA?
The SA, MA, and RA interest rate formula is pegged to the 12-month average yield of 10-Year Singapore Government Securities (10YSGS) plus 1%. Since the formula would produce a rate close to or below 4%, the government’s 4% floor rate guarantee (extended through 31 December 2026) ensures members continue to earn at least 4% on their SMRA balances.
How much bonus CPF interest can I earn?
Members below 55 earn an extra 1% p.a. on the first S$60,000 of combined CPF balances (max S$20,000 from OA). Members 55 and above earn an extra 2% on the first S$30,000 and an extra 1% on the next S$30,000. This means OA can effectively earn 3.5% and SA/RA can earn up to 5–6% p.a. with the bonus tiers.
Is CPF SA interest better than T-bills in 2026?
Yes, for most Singaporeans. CPF SA earns 4% p.a. (or 5% with the bonus tier), which is currently higher than the latest 6-month T-bill cut-off yields of approximately 3.0–3.5%. CPF SA also has zero credit risk and no application process. The trade-off is that CPF SA is illiquid until retirement age. If you need liquidity, T-bills or SSBs are better alternatives.
Can I top up my CPF to earn more interest?
Yes. Under the CPF Cash Top-Up Scheme (RSTU), you can top up your own SA (if below 55) or RA (if 55 and above) with cash — up to the Full Retirement Sum (FRS) of S$220,400 for 2026. Top-ups of up to S$8,000 per year qualify for income tax relief, and an additional S$8,000 in family top-ups also qualifies. This makes RSTU one of the most tax-efficient savings strategies in Singapore.
When does CPF credit interest to my account?
CPF interest is computed monthly but credited annually at the end of each calendar year (December 31). The interest credited in December is based on the end-of-month balance for each month of the year. So funds you top up earlier in the year earn more interest than funds topped up in December.
Start Investing With These Referral Bonuses
Looking to put your money to work beyond CPF? These platforms offer sign-up bonuses for new accounts:
- Endowus Referral Code — S$20 access fee credit + up to 0.3% rebate on fees
- Syfe Referral Code — Fee waiver for 3–6 months on your first portfolio
- FSMOne Referral Code — Cash rewards on qualifying trades
- MariBank Referral Code — Up to 3.6% p.a. on savings