CIMB JUNIOR SAVER ACCOUNT

1. What is the main purpose of each account?

• Junior Saver Account (JSA): Designed to help children learn good savings habits and manage money independently with attractive interest rates.
• Child Development Account (CDA): A government-initiated savings scheme to support a child’s healthcare and education expenses, with dollar-for-dollar matching by the government (up to specified caps).

2. What are the interest rates?

• Junior Saver Account (JSA): Earns up to 2.50% p.a.* on savings.
• Child Development Account (CDA): Interest rates vary by bank (typically ~0.05% to 2.4% p.a., depending on the provider).

Rates of the Junior Saver Account (JSA) and Child Development Account (CDA) are accurate as at 15 September 2025 and are subject to change without prior notice. CDA rates are based on the publicly available rates of the local banks' CDA accounts in Singapore as at 15 September 2025. 

3. Are there fees or minimum balance requirements?

• Junior Saver Account (JSA): No fall-below fees and no lock-in period.
• Child Development Account (CDA): No fees, but funds are restricted for approved uses only.

4. Can I withdraw money freely?

• Junior Saver Account (JSA): Yes. Withdrawals for In-Trust account can only be performed at CIMB Branch, just like a normal savings account.
• Child Development Account (CDA): No. Funds can only be used at approved institutions (for example, registered childcare centres and kindergartens, specified healthcare institutions, etc.).

Withdrawals for In-Trust account can only be performed at CIMB branch and can be done by parent only. 

5. Are there any rewards for opening the account?

• Junior Saver Account (JSA): Receive a S$100^ ActionCity voucher when you open an account online.
• Child Development Account (CDA): Eligible for government matching contributions, depending on the amount deposited and child’s birth order.

6. Who can open the account?

• Junior Saver Account (JSA): Parents/guardians can open for children below 16 years old.
• Child Development Account (CDA): Opened automatically for Singapore citizen children upon birth registration (parents choose which bank to maintain the CDA with).

7. Which account is better for everyday savings?

• Junior Saver Account (SA): Great for building daily savings and teaching kids money management with easy access to funds.
• Child Development Account (CDA): Best suited for long-term support of education and healthcare expenses, not for daily withdrawals.

Information relating to the Child Development Account in this FAQ is based on the information on the following website accessed on 15 September 2025:

Child Development Co-Savings (Baby Bonus) Scheme

Whilst the Bank has taken all reasonable care to ensure that the information herein has been compiled from sources believed to be reliable and is not untrue or misleading at the time of this FAQ, the Bank assumes no responsibility and makes no representations or warranties, of any kind, as to the accuracy or completeness of this FAQ and this FAQ does not purport to contain all the information that a recipient 

Information is accurate as at 15 September 2025

Click here to view common pre-application FAQs.

*Interest accrued daily and credited monthly. Daily interest will be paid on the entire daily end-of-day balance, provided that the prevailing interest earned is at least $0.01 at the end of the month.

^#Fresh funds refers to funds that do not originate from any existing account with the Bank.

^Terms and conditions governing ActionCity Junior Saver Account opening promotion apply. Click here for details. 

¹CIMB retains the discretion, without the obligation to provide any reason, to request a discretionary first-party fund-in (of an amount determined at its absolute discretion) for all applications for current/savings account. Initial deposit will be refunded to the originating account in the event deposit application is unsuccessful. Please expect a longer turnaround time in receiving the refund of the initial deposit if initial deposit was not sent using the accepted methods as stated above. If the originating account is not under the CIMB deposit applicant’s name, any request to refund the initial deposit to the applicant’s personal account requires a documentary proof i.e. bank statement. All incidental charges and foreign exchange arising from the refund will be borne by the customer. An indemnity form may be required to be completed by the applicant before any refund can be processed.

²Download our "CIMB Clicks Singapore" Mobile App to set up your Digital Token. Find out more here.

CIMB may have right of review (RoR) clauses in the terms and conditions governing your product and/or service relationship with our bank. Please refer to the Notification of Right of Review Clause for more information.

Deposit Insurance Scheme

Singapore dollar deposits of non-bank depositors are insured by the Singapore Deposit Insurance Corporation, for up to S$100,000 in aggregate per depositor per Scheme member by law. Foreign currency deposits, dual currency investments, structured deposits and other investment products are not insured.