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SINGAPORE - All CPF members will continue to enjoy a risk-free interest rate of 2.5 per cent on their Ordinary Account savings from January 1 to March 31, 2014.

The computed CPF interest rate, derived from the major local banks' interest rates for the three-month period, August 1 to October 31, 2013, worked out to be 0.21 per cent per annum.

As this is below the legislated minimum of 2.50 per cent per annum, the OA interest rate for January 2014 to March 2014 will remain unchanged at 2.50 per cent per annum, the CPF board said in a statement today.

Extra Interest of 1 per cent

An extra one per cent interest will continue to be paid on the first $60,000 of a member's combined balances, with up to $20,000 from the OA. The extra interest from the OA will go into the member's Special or Retirement Account.

HDB's Mortgage Rate

The concessionary interest rate for HDB mortgage loans, which is pegged at 0.1 percentage point above the CPF interest rate for the OA, will remain unchanged at 2.60 per cent per annum from 1 January 2014 to 31 March 2014.

For more information, please visit http://www.cpf.gov.sg or call the CPF Call Centre at 1800-227-1188