Singapore Compound Interest Calculator

See how your savings grow with compound interest — project balances in SGD across different rates, contribution amounts, and compounding frequencies.

Singapore Compound Interest Calculator

Project investment growth — figures shown in SGD

1 Investment Setup

Initial Investment (SGD)

SGD

SGD 0SGD 500,000

Regular Contribution (SGD)

SGD

2 Growth Parameters

Annual Interest Rate

Investment Period

yrs

Compounding Frequency

Inflation Rate

3 Adjustments

Tax on Earnings

View Results In

Future SGD Today's SGD

Tax-efficient settings (Singapore, 2026): No capital gains tax · Singapore-source dividend income tax-free for individuals · SRS contributions deductible up to SGD 15,300 (Citizens/PRs) or SGD 35,700 (foreigners), capped within personal income tax relief of SGD 80,000 · CPF cash top-ups deductible up to SGD 8,000 self + SGD 8,000 loved ones (combined SGD 16,000 cap). SDIC protects SGD deposits up to SGD 100,000 per Scheme member (effective 1 April 2024). Source: IRAS — SRS.

Projected Future Value

SGD 100,134

After 10 years · 6.0% p.a. · Monthly compounding · future SGD

Principal

SGD 10,000

Contributions

SGD 60,000

Interest Earned

SGD 30,134

Summary

Total InvestedSGD 70,000

Interest on InterestSGD 6,134

Effective Annual Rate6.17%

Real Return (after inflation)3.41%

Time to Double (Rule of 72)12.0 years

Final ValueSGD 100,134

Investment Summary

An initial investment of SGD 10,000 with SGD 500 contributed monthly at 6.0% annual interest (compounded monthly) grows to SGD 100,134 over 10 years.

Total contributions add up to SGD 60,000, with SGD 30,134 earned in interest — including SGD 6,134 of compound growth (interest earned on previously earned interest).

Initial Investment

SGD 10,000

Total Contributions

SGD 60,000

Interest Earned

SGD 30,134

Future Value

SGD 100,134

Growth Projection

Total Balance Contributions Only

If you started 5 years earlier

+SGD 69,817

If rate was +1% higher

+SGD 6,505

Rule of 72: A quick estimate of doubling time — divide 72 by the annual rate. At 6.0%, money doubles approximately every 12.0 years.

Yearly Breakdown

Year-by-year contributions, interest and balance. Figures reflect the view setting (Future SGD or Today's SGD).

Year	Contributions	Interest	Total Invested	Balance
1	SGD 6,000	SGD 785	SGD 16,000	SGD 16,785
2	SGD 6,000	SGD 1,203	SGD 22,000	SGD 23,988
3	SGD 6,000	SGD 1,647	SGD 28,000	SGD 31,635
4	SGD 6,000	SGD 2,119	SGD 34,000	SGD 39,754
5	SGD 6,000	SGD 2,620	SGD 40,000	SGD 48,374
6	SGD 6,000	SGD 3,151	SGD 46,000	SGD 57,525
7	SGD 6,000	SGD 3,716	SGD 52,000	SGD 67,241
8	SGD 6,000	SGD 4,315	SGD 58,000	SGD 77,556
9	SGD 6,000	SGD 4,951	SGD 64,000	SGD 88,507
10	SGD 6,000	SGD 5,627	SGD 70,000	SGD 100,134

Composition of Final Balance

Initial InvestmentSGD 10,000

Total ContributionsSGD 60,000

Interest EarnedSGD 30,134

Final BalanceSGD 100,134

Scenario Comparison

How different choices affect the final balance, all using your selected period and rate.

Your scenarioSGD 100,134

SGD 100k

Double the contributionSGD 182,073

SGD 182k

No regular contributionsSGD 18,194

SGD 18k

+2% higher annual returnSGD 113,669

SGD 114k

Compounding Frequency Comparison

Same principal, contribution, rate and period — only the compounding frequency changes.

Frequency	Final Value	Difference vs Annual
Annually	SGD 99,145	—
Semi-Annually	SGD 99,674	+SGD 529
Quarterly	SGD 99,948	+SGD 802
Monthly (current)	SGD 100,134	+SGD 988
Daily	SGD 100,225	+SGD 1,079

Singapore reference points (May 2026): CPF OA 2.5% p.a. · CPF SA/MA/RA 4.0% p.a. (floor extended to 31 Dec 2026) · STI 20-year ≈ 6–8% p.a. (with dividends) · Singapore Savings Bonds ≈ 2.5–3.5% p.a. · Fixed Deposits ≈ 3.0–3.5% p.a. (1-year) · S-REITs ≈ 5–8% p.a. (incl. distributions). Source: CPF Board.

Investment Milestones

Estimated time to reach common Singapore savings and investment milestones, based on the inputs above.

×2

Double Initial InvestmentReached in Year 2

50k

SGD 50,000Reached in Year 6

BRS

CPF BRS (2026)10.8 years required

FRS

CPF FRS (2026)17.9 years required

ERS

CPF ERS (2026)26.7 years required

When you'll reach common targets

Target	Years	Estimated Year
SGD 25,000	2.2	2029
SGD 50,000	5.3	2032
SGD 110,200	10.8	2037
SGD 220,400	17.9	2044
SGD 440,800	26.7	2053
SGD 1,000,000	38.5	2065

Singapore retirement reference points (2026): CPF Basic Retirement Sum (BRS) SGD 110,200 · Full Retirement Sum (FRS) SGD 220,400 · Enhanced Retirement Sum (ERS) SGD 440,800 · Basic Healthcare Sum (BHS, below 65) SGD 79,000 · CPF monthly salary ceiling SGD 8,000 · Statutory retirement age rises to 64 from 1 July 2026. Source: CPF Board.

Home Loan Calculator

Monthly Repayment · Total Interest · LTV · BSD · Full Schedule

Loan Type

HDB loans: max 30yr tenure, 2.60% concessionary rate (CPF OA + 0.10%), eligible HDB flat buyers only. Bank loans: max 35yr tenure, subject to TDSR/MSR. Per HDB and MAS.

Property & Loan Details

Property Value (SGD)

Down Payment (SGD)

Loan Amount & LTV

Max 75% LTV for first loan (MAS, since 20 Aug 2024)

SGD 900,000

LTV 75.0% ✓

Rate & Tenure

Interest Rate (% p.a.) 2.00%

Bank fixed-rate packages currently ~1.55–1.70% p.a. (2–3yr lock-in). 3M Compounded SORA ~1.0–1.4% + bank spread → all-in floating ~1.8–2.2%. HDB concessionary 2.60%. Per MAS SORA and HDB (Q1 2026).

Loan Tenure 25 years

Per MAS: max 35 years private property bank loan, max 30 years HDB. Tenure beyond 30yr (private) or 25yr (HDB) reduces max LTV to 55%.

Property Use

Investment / rental property?

Enables IRAS rental income tax notes. Per IRAS, mortgage interest on rental property may be deductible against rental income.

Monthly Repayment

SGD 3,815

Total interest: SGD 244,407

Loan AmountSGD 900,000

Total InterestSGD 244,407

Total RepaidSGD 1,144,407

LTV75.0%

BSD (estimated)SGD 32,600

Interest as % of Loan27.16%

Competitive — within current SORA-linked range

Your rate2.00% p.a.

Bank fixed avg · 1.65%1.65%

HDB concessionary · 2.60%2.60%

Loan Summary

Based on a SGD 1,200,000 property, SGD 300,000 down payment, and a SGD 900,000 loan at 2.00% p.a. over 25 years (Bank Loan).

Estimated monthly repayment is SGD 3,815. Total interest over the tenure is SGD 244,407, for a total repayment of SGD 1,144,407. BSD is estimated at SGD 32,600.

Repayment

SGD 3,815

Total Interest

SGD 244,407

Total Repaid

SGD 1,144,407

Interest %

27.16%

Cost Breakdown

Property Value	SGD 1,200,000
Less: Down Payment	−SGD 300,000
Net Loan Amount	SGD 900,000
Total Interest Paid	−SGD 244,407
BSD (estimated)	SGD 32,600
Total Cost (Loan + Interest + BSD)	SGD 1,177,007

Loan Metrics

Interest Rate (p.a.)	2.00%
Loan Type	Bank Loan
Loan Tenure	25 years
LTV	75.0%
Repayment Amount (Monthly)	SGD 3,815

Repayment Schedule

Annual amortisation schedule — how each year's repayments split between principal and interest. Singapore home loans use a reducing-balance method (interest charged on outstanding balance) — different from car loans which use a flat rate.

Extra Monthly Repayment (SGD)

Interest Saved

SGD 37,612

Years Saved

3.6 yrs

Paid Off By

Feb 2048

New Total Interest

SGD 206,795

Bank lock-in period prepayment fees (typically 1–1.5% of amount prepaid) may apply. HDB loans have no early repayment penalty.

Year	Annual Repayment	Principal	Interest	Balance
Year 1	SGD 45,776	SGD 28,032	SGD 17,744	SGD 871,968
Year 2	SGD 45,776	SGD 28,598	SGD 17,178	SGD 843,370
Year 3	SGD 45,776	SGD 29,175	SGD 16,601	SGD 814,194
Year 4	SGD 45,776	SGD 29,764	SGD 16,012	SGD 784,430
Year 5	SGD 45,776	SGD 30,365	SGD 15,411	SGD 754,065
Year 6	SGD 45,776	SGD 30,978	SGD 14,798	SGD 723,087
Year 7	SGD 45,776	SGD 31,603	SGD 14,173	SGD 691,484
Year 8	SGD 45,776	SGD 32,241	SGD 13,535	SGD 659,243
Year 9	SGD 45,776	SGD 32,892	SGD 12,884	SGD 626,351
Year 10	SGD 45,776	SGD 33,556	SGD 12,221	SGD 592,795
Year 11	SGD 45,776	SGD 34,233	SGD 11,543	SGD 558,562
Year 12	SGD 45,776	SGD 34,924	SGD 10,852	SGD 523,638
Year 13	SGD 45,776	SGD 35,629	SGD 10,147	SGD 488,009
Year 14	SGD 45,776	SGD 36,348	SGD 9,428	SGD 451,661
Year 15	SGD 45,776	SGD 37,082	SGD 8,695	SGD 414,579
Year 16	SGD 45,776	SGD 37,830	SGD 7,946	SGD 376,749
Year 17	SGD 45,776	SGD 38,594	SGD 7,182	SGD 338,155
Year 18	SGD 45,776	SGD 39,373	SGD 6,403	SGD 298,783
Year 19	SGD 45,776	SGD 40,167	SGD 5,609	SGD 258,615
Year 20	SGD 45,776	SGD 40,978	SGD 4,798	SGD 217,637
Year 21	SGD 45,776	SGD 41,805	SGD 3,971	SGD 175,832
Year 22	SGD 45,776	SGD 42,649	SGD 3,127	SGD 133,182
Year 23	SGD 45,776	SGD 43,510	SGD 2,266	SGD 89,672
Year 24	SGD 45,776	SGD 44,388	SGD 1,388	SGD 45,284
Year 25	SGD 45,776	SGD 45,284	SGD 492	SGD 0

Interest Breakdown

Singapore home loans use the reducing-balance method — interest charged falls each year as principal decreases. In the early years, the majority of each repayment goes to interest.

Loan Amount

SGD 900,000

Total Interest

SGD 244,407

Yr 1 Interest

SGD 17,744

Final Yr Interest

SGD 492

Annual Interest (Reducing Balance)

Year 1SGD 17,744

Year 3SGD 16,601

Year 5SGD 15,411

Year 7SGD 14,173

Year 9SGD 12,884

Year 11SGD 11,543

Year 13SGD 10,147

Year 15SGD 8,695

Year 17SGD 7,182

Year 19SGD 5,609

Year 21SGD 3,971

Year 23SGD 2,266

Year 25SGD 492

Annual Principal vs Interest Split

Year	Opening Balance	Principal Paid	Interest Paid	Closing Balance
Year 1	SGD 900,000	SGD 28,032	SGD 17,744	SGD 871,968
Year 2	SGD 871,968	SGD 28,598	SGD 17,178	SGD 843,370
Year 3	SGD 843,370	SGD 29,175	SGD 16,601	SGD 814,194
Year 4	SGD 814,194	SGD 29,764	SGD 16,012	SGD 784,430
Year 5	SGD 784,430	SGD 30,365	SGD 15,411	SGD 754,065
Year 6	SGD 754,065	SGD 30,978	SGD 14,798	SGD 723,087
Year 7	SGD 723,087	SGD 31,603	SGD 14,173	SGD 691,484
Year 8	SGD 691,484	SGD 32,241	SGD 13,535	SGD 659,243
Year 9	SGD 659,243	SGD 32,892	SGD 12,884	SGD 626,351
Year 10	SGD 626,351	SGD 33,556	SGD 12,221	SGD 592,795
Year 11	SGD 592,795	SGD 34,233	SGD 11,543	SGD 558,562
Year 12	SGD 558,562	SGD 34,924	SGD 10,852	SGD 523,638
Year 13	SGD 523,638	SGD 35,629	SGD 10,147	SGD 488,009
Year 14	SGD 488,009	SGD 36,348	SGD 9,428	SGD 451,661
Year 15	SGD 451,661	SGD 37,082	SGD 8,695	SGD 414,579
Year 16	SGD 414,579	SGD 37,830	SGD 7,946	SGD 376,749
Year 17	SGD 376,749	SGD 38,594	SGD 7,182	SGD 338,155
Year 18	SGD 338,155	SGD 39,373	SGD 6,403	SGD 298,783
Year 19	SGD 298,783	SGD 40,167	SGD 5,609	SGD 258,615
Year 20	SGD 258,615	SGD 40,978	SGD 4,798	SGD 217,637
Year 21	SGD 217,637	SGD 41,805	SGD 3,971	SGD 175,832
Year 22	SGD 175,832	SGD 42,649	SGD 3,127	SGD 133,182
Year 23	SGD 133,182	SGD 43,510	SGD 2,266	SGD 89,672
Year 24	SGD 89,672	SGD 44,388	SGD 1,388	SGD 45,284
Year 25	SGD 45,284	SGD 45,284	SGD 492	SGD 0

Rate Benchmark

Compare your rate against current Singapore market benchmarks. As at May 2026, bank fixed-rate packages (~1.55–1.70%) sit below the HDB concessionary rate (2.60%). Always compare 3-year all-in averages, not just Year 1 teaser rates.

Your Rate

2.00%

Bank Fixed Avg

1.65%

SORA-linked Avg

2.00%

HDB Concessionary

2.60%

Rate Comparison

Your Rate2.00%

Bank Fixed Avg (1.65%)1.65%

SORA-linked Floating (~2.00%)2.00%

HDB Concessionary (2.60%)2.60%

Benchmark Summary

Your rate	2.00%
vs bank fixed avg (1.65%)	+0.35%
vs SORA-linked avg (2.00%)	+0.00%
vs HDB concessionary (2.60%)	-0.60%
Interest difference vs bank fixed avg	SGD 45,446 extra cost

Compare Two Loans

Loan A mirrors your main calculator. Adjust Loan B's rate and tenure to compare side by side — useful when weighing a fixed-rate vs SORA-linked package, or HDB loan vs bank loan.

LOAN AYour Current Inputs(mirrors main)

Rate2.00%

Tenure25 yrs

MonthlySGD 3,815

Total InterestSGD 244,407

Total RepaidSGD 1,144,407

LOAN BAlternative Loan

Interest Rate (% p.a.) 1.65%

Tenure 25 years

MonthlySGD 3,663

Total InterestSGD 198,961

Total RepaidSGD 1,098,961

Side-by-Side

Metric	Loan A	Loan B	Difference
Interest Rate	2.00%	1.65%	+0.35%
Tenure	25 yrs	25 yrs	Same
Monthly Repayment	SGD 3,815	SGD 3,663	+SGD 151
Total Interest	SGD 244,407	SGD 198,961	+SGD 45,446
Total Repaid	SGD 1,144,407	SGD 1,098,961	+SGD 45,446

Loan B saves SGD 45,446 in total cost over the full tenure.

Both loans use the same principal. Year 1 teaser rates often increase — compare 3-year averages. Per MoneySense.

Reference · SG 2026

Singapore Investment Options

Common investment types available to Singapore savers and investors, with typical historical returns and risk levels. Tap any option for detailed considerations.

High-Interest Savings Accounts

Very Low Risk

Typical Return3.0–4.0% p.a.

CompoundingMonthly

SDIC-insured savings accounts from DBS, OCBC, UOB and digital banks. Bonus rates often require salary credit, card spend or investments. Protected up to SGD 100,000 per Scheme member (effective 1 April 2024).

Key Considerations

Advantages

SDIC insured up to SGD 100K
Instant access to funds
No market risk
Interest tax-free for individuals

Considerations

Complex bonus conditions
Rates can change without notice
Balance caps on bonus tiers
Below MAS Core Inflation possible

Tap for details

Fixed Deposits

Very Low Risk

Typical Return2.5–3.5% p.a.

Term1–36 months

Fixed-rate SGD deposits locked for set tenures (1, 3, 6, 12 or 24 months). SDIC insured up to SGD 100,000 per Scheme member. Promotional tenures sometimes offer above-board rates for fresh funds.

Current Singapore T-bill rates ↗

Key Considerations

Advantages

Locked-in rate for term
SDIC insured up to SGD 100K
Predictable returns
Interest tax-free for individuals

Considerations

Funds locked for tenure
Early withdrawal forfeits interest
Miss future rate increases
Minimum deposit requirements

Tap for details

Singapore Savings Bonds (SSB)

Low–Medium Risk

Typical Return2.5–3.5% p.a.

IncomeSemi-Annual

Singapore Government-backed bonds with step-up interest rates over 10 years. No early redemption penalty. SGD 200,000 individual cap. Issued monthly by MAS via the Singapore Savings Bonds programme.

Current Singapore Savings Bond rates ↗

Key Considerations

Advantages

Singapore Government backed
No early redemption penalty
Step-up interest each year
Interest tax-free for individuals

Considerations

SGD 200K cap per holder
Monthly application required
Lower returns vs equities
Step-up takes 10 years to peak

Tap for details

CPF Special Account (SA)

Low–Medium Risk

Guaranteed Rate4.0% p.a.

Tax TreatmentTax-Free Growth

CPF Special Account for retirement savings (members below 55). Floor rate 4.0% p.a. extended until 31 December 2026. Cash top-ups give tax relief up to SGD 8,000/year. Note: SA closed for members aged 55+ since 19 January 2025.

Current CPF interest rates ↗ · Full Retirement Sum ↗

Key Considerations

Advantages

Guaranteed 4.0% floor
Extra 1% on first SGD 60K combined
Government-backed (SSGS)
Cash top-ups tax-deductible

Considerations

Locked until age 55 (BRS rules)
SA closes at 55 (since Jan 2025)
FRS 2026: SGD 220,400
Top-up limit: SGD 8K self / year

Tap for details

Gold & Precious Metals

Medium Risk

Historical Return5–8% p.a.

IncomeNone (Capital)

Physical gold, UOB Gold Savings Account, or SGX-listed gold ETFs (e.g. SPDR Gold Shares). Investment-grade gold is GST-exempt in Singapore. Traditional inflation hedge priced in USD.

Key Considerations

Advantages

Inflation hedge
Investment-grade gold GST-free
No CGT in Singapore
UOB Gold Savings option

Considerations

No income / dividends
Storage costs (physical)
USD/SGD currency risk
Price volatility

Tap for details

Robo-Advisors

Medium Risk

Historical Return6–8% p.a.

Min. InvestmentSGD 1+

MAS-licensed automated portfolio managers including Syfe, StashAway and Endowus. Globally diversified ETF portfolios with automatic rebalancing. Some accept CPF and SRS funding.

Key Considerations

Advantages

Low minimum from SGD 1
Automatic rebalancing
CPF / SRS investing options
MAS-licensed CMS holders

Considerations

Management fees 0.2–0.8% p.a.
Less direct control
Market volatility exposure
Underlying ETF fees apply

Tap for details

ETFs (SGX-listed)

Medium–High Risk

Historical Return7–10% p.a.

Tax TreatmentNo CGT

SGX-listed ETFs tracking the STI (ES3, G3B), global indices (VWRA, IWDA via brokers), or sectors. Many are CPFIS-approved. Singapore has no capital gains tax. Low expense ratios from 0.04%.

Key Considerations

Advantages

No capital gains tax
SG dividends one-tier (tax-free)
CPFIS-approved options
Low expense ratios

Considerations

Market risk exposure
Brokerage commissions apply
US ETFs: 30% withholding tax
SGD/USD currency risk

Tap for details

Supplementary Retirement Scheme (SRS)

Medium–High Risk

Historical ReturnVaries (4–8%)

Tax ReliefDollar-for-dollar

Voluntary retirement scheme operated by DBS, OCBC, UOB. Annual contributions tax-deductible up to SGD 15,300 (Citizens/PRs) or SGD 35,700 (foreigners). Investments grow tax-free; only 50% of withdrawals taxable at retirement.

Key Considerations

Advantages

Dollar-for-dollar tax deduction
Tax-free growth before withdrawal
50% tax concession at retirement
Wide investment universe

Considerations

5% penalty before retirement age
SGD 15,300 cap (Citizens/PRs)
Personal relief cap SGD 80,000
10-year withdrawal window

Tap for details

S-REITs (Singapore REITs)

Medium–High Risk

Historical Return5–8% p.a.

DistributionsQuarterly

SGX-listed REITs such as CapitaLand Integrated Commercial Trust, Mapletree Logistics, Ascendas REIT and Frasers Centrepoint. Access commercial, industrial, retail and healthcare properties. Tax-transparent distributions.

Key Considerations

Advantages

Tax-transparent distributions
5–8% dividend yields
Liquid (trade on SGX)
Many CPFIS-approved

Considerations

Interest rate sensitive
Share price volatility
MAS gearing limits (50%)
Sector concentration risk

Tap for details

CPF Investment Scheme (CPFIS)

Medium–High Risk

Target Return6–9% p.a.

SourceCPF OA / SA

Invest CPF Ordinary Account (OA) funds in MAS-approved unit trusts, ETFs, shares, and insurance products. Aim to beat the 2.5% OA rate. Must retain SGD 20,000 minimum in OA. Note: SA-CPFIS withdrawn since 1 October 2024.

Current CPF interest rates ↗

Key Considerations

Advantages

Potential to beat 2.5% OA rate
Wide approved product range
Use idle CPF funds
Tax-free gains within CPF

Considerations

Can underperform CPF rates
Must retain SGD 20K in OA
SA-CPFIS withdrawn (Oct 2024)
Sales charges and platform fees

Tap for details

SGX Stock Market (Direct Shares)

High Risk

Historical Return6–8% p.a.

IncomeSG Dividends

Direct SGX share investment via CDP-linked broker accounts. Access blue chips like DBS, OCBC, UOB, Singtel and CapitaLand. The Straits Times Index (STI) is the local benchmark of large-cap shares. Singapore one-tier dividends are tax-free for individuals.

Key Considerations

Advantages

No capital gains tax
SG one-tier dividends tax-free
Many CPFIS-approved stocks
SRS-eligible

Considerations

Single-stock volatility
Capital can be lost
Smaller market vs US/global
Board lot system (100 shares)

Tap for details

Cryptocurrency

Very High Risk

Historical ReturnHighly Variable

Tax TreatmentNo CGT

Digital assets traded via MAS-licensed Digital Payment Token (DPT) service providers including Coinhako, Independent Reserve and Crypto.com. No capital gains tax for individual investors. 9% GST may apply on trading fees.

Key Considerations

Advantages

No capital gains tax
MAS-licensed DPT exchanges
24/7 global market
Staking / DeFi yields (some)

Considerations

Extreme volatility
Can lose 50%+ quickly
9% GST on trading services
Security and scam risks

Tap for details

FAQ

Frequently Asked Questions

Common questions about compound interest, savings, CPF, SRS and tax in Singapore. Answers reference MAS, IRAS, CPF Board and SDIC official guidance.

1What's the difference between simple and compound interest?

Simple interest is calculated only on the original principal. Compound interest is calculated on the principal plus any accumulated interest.

Example: SGD 10,000 at 5% for 5 years. Simple interest = SGD 12,500 (gain of SGD 2,500). Compound interest (monthly) ≈ SGD 12,834 (gain of SGD 2,834). The SGD 334 difference comes from earning interest on previously earned interest.

MAS — Monetary Authority of Singapore

2How does the Rule of 72 work?

The Rule of 72 is a quick way to estimate how long it takes to double an investment. Divide 72 by the annual return: 72 ÷ rate = years to double.

Examples: at CPF SA's 4.0% floor rate, money doubles every ~18 years. At 6%, every ~12 years. At 8%, every ~9 years. The rule assumes constant returns and is most accurate for rates between 4–10%.

MoneySense — MAS Financial Education

3How does compounding frequency affect returns?

More frequent compounding leads to slightly higher returns, because interest is added to the balance more often. The difference is largest at higher rates and over longer periods.

For SGD 10,000 at 6% over 10 years (no contributions):

Annual compounding: SGD 17,908
Monthly compounding: SGD 18,194
Daily compounding: SGD 18,221

CPF Special Account compounds monthly. Singapore Savings Bonds compound semi-annually. Always check how a savings product compounds before comparing rates.

MoneySense — MAS Financial Education

4Does compound interest work against me on loans?

Yes. On credit cards, personal loans and renovation loans, compound interest works in reverse — interest is charged on previously charged interest, so balances grow if not repaid in full.

A 26% Effective Interest Rate (EIR) on a credit card balance left unpaid roughly doubles every 2.8 years (Rule of 72). Paying more than the minimum repayment, especially early in the loan term, reduces the total interest paid significantly. MAS caps unsecured credit at 12 months of monthly income.

MAS — Credit Rules

5What does "real return" mean?

Real return is the return after subtracting inflation — it shows the change in purchasing power rather than the nominal change in dollars.

If a savings account earns 3% interest while MAS Core Inflation is 2%, the nominal return is 3% but the real return is approximately 1%. If interest is 1% and inflation is 3%, the real return is roughly -2% — money is losing purchasing power. MAS targets ~2% midpoint inflation through its SGD-NEER policy band.

MAS — Monetary Policy

6What is the Singapore Deposit Insurance Scheme (SDIC)?

The Singapore Deposit Insurance Corporation (SDIC) administers the Deposit Insurance (DI) Scheme, protecting SGD deposits up to SGD 100,000 per depositor per Scheme member. The limit was raised from SGD 75,000 to SGD 100,000 on 1 April 2024, covering 91% of depositors fully.

All retail full banks and finance companies in Singapore are required by law to be DI Scheme members. Coverage is automatic — no application or premium required. Wholesale and merchant banks are not Scheme members.

SDIC — Deposit Insurance FAQs

7What types of deposits does SDIC cover?

The DI Scheme covers Singapore dollar deposits in standard savings, current, and fixed deposit accounts placed with a Scheme member bank or finance company in Singapore. SGD monies under the Supplementary Retirement Scheme (SRS) are also aggregated under the same SGD 100,000 limit.

Not covered: foreign currency deposits, structured deposits, dual currency investments, unit trusts, shares and other investment products. CPF Investment Scheme (CPFIS) and CPF Retirement Sum Scheme (CPFRS) monies are separately insured up to SGD 100,000.

SDIC — Calculation of Compensation

8How does SDIC coverage work for joint accounts?

For joint accounts, the SGD 100,000 limit is split equally among all account holders unless the bank's records show a different ownership split. Each holder's share is then aggregated with their other deposits at the same Scheme member.

Trust and client accounts held by non-bank depositors are insured separately up to SGD 100,000 per account, without aggregation. Deposits across different branches of the same bank are aggregated — the SGD 100K cap is per Scheme member, not per branch.

SDIC — Joint Account Coverage

9What are Singapore Savings Bonds and how do they work?

Singapore Savings Bonds (SSB) are Singapore Government bonds with step-up interest rates over 10 years and no early redemption penalty. The first-year coupon starts lower and rises gradually so the 10-year average matches long-term Singapore Government Securities (SGS) yields.

Issued monthly by MAS. Minimum investment SGD 500, maximum SGD 200,000 per individual across all outstanding SSB issues. Interest paid semi-annually. Backed by the full faith and credit of the Singapore Government — there is no capital risk.

MAS — Singapore Savings Bonds

10How do bonus interest rates on Singapore HISA accounts work?

High-yield savings accounts from DBS Multiplier, OCBC 360, UOB One and similar products advertise headline rates of 3–5% p.a., but the highest tiers typically require multiple criteria — salary credit, card spend (often SGD 500+/month), giro bill payments, and investments or insurance with the same bank.

Without meeting these conditions, the base rate is often around 0.05% p.a. The bonus rate also typically applies only up to a balance cap (e.g. first SGD 50,000 or SGD 100,000). Always check the exact tiers and balance caps with the bank before comparing rates.

MoneySense — Saving Smart

11What are the current CPF interest rates?

For the period 1 April – 30 June 2026 (Q2 2026):

Ordinary Account (OA): 2.5% p.a. (floor rate)
Special Account (SA): 4.0% p.a. (floor rate, extended until 31 December 2026)
MediSave Account (MA): 4.0% p.a.
Retirement Account (RA): 4.0% p.a.

Members below 55 earn an extra 1% on the first SGD 60,000 of combined balances (capped at SGD 20,000 for OA). Members 55+ earn an extra 2% on the first SGD 30,000 and an extra 1% on the next SGD 30,000.

CPF Board — Q2 2026 Interest Rates

12What are the CPF Retirement Sums for 2026?

For Singaporeans turning 55 in 2026:

Basic Retirement Sum (BRS): SGD 110,200 — basic monthly payouts excluding rent
Full Retirement Sum (FRS): SGD 220,400 — equivalent to 2× BRS, the standard reference for retirement adequacy
Enhanced Retirement Sum (ERS): SGD 440,800 — equivalent to 4× BRS, for higher monthly payouts

The BRS and FRS are fixed for life based on the year you turn 55. The ERS is set annually and increases each January. CPF retirement sums rise by approximately 3.5% per year through 2027 to keep pace with rising costs and life expectancy.

CPF Board — Retirement Sums

13How does the Supplementary Retirement Scheme (SRS) work?

SRS is a voluntary tax-deferred retirement scheme operated by DBS, OCBC and UOB. Annual contribution caps:

Singapore Citizens & PRs: SGD 15,300/year
Foreigners: SGD 35,700/year

Contributions are deducted dollar-for-dollar from taxable income (subject to the personal income tax relief cap of SGD 80,000). Investment growth is tax-free until withdrawal. At the statutory retirement age, only 50% of each withdrawal is taxable and withdrawals can be spread over up to 10 years.

Early withdrawal incurs a 5% penalty and full taxation. The statutory retirement age rises from 63 to 64 from 1 July 2026.

IRAS — SRS Contributions

14What changed with the CPF Special Account in 2025?

The Special Account (SA) was closed for members aged 55 and above on 19 January 2025. SA savings up to the Full Retirement Sum (FRS) were transferred to the Retirement Account (RA), with any excess shifted to the Ordinary Account (OA), where it earns the 2.5% short-term rate but remains withdrawable.

The SA still exists for members below 55 and continues to earn the 4.0% floor rate. From age 55, contributions follow the new structure: OA, MA and RA only.

The CPF Investment Scheme on SA monies (SA-CPFIS) was withdrawn earlier, on 1 October 2024.

CPF Board — Changes in 2025

15How can CPF cash top-ups reduce my income tax?

Cash top-ups to your own SA, RA or MA are tax-deductible up to SGD 8,000 per Year of Assessment. Cash top-ups to loved ones (parents, spouse, siblings, grandparents) qualify for a further SGD 8,000, giving a combined personal cap of SGD 16,000.

The combined relief sits within the personal income tax relief cap of SGD 80,000 per Year of Assessment. Top-ups to MediSave only count toward tax relief up to the difference between your MA balance and the Basic Healthcare Sum (SGD 79,000 for under-65s in 2026).

IRAS — CPF Cash Top-up Relief

16Does Singapore tax investment gains?

No capital gains tax exists in Singapore. Profits from selling shares, ETFs, REITs, property, gold or cryptocurrency are not taxed for individual investors who are not trading as a business.

However, frequent trading that constitutes a "trade or business" (based on factors like frequency, holding period, financing and intent) may be assessed as taxable income by IRAS. Most retail investors holding investments for the long term fall outside this.

IRAS — Taxable and Non-Taxable Income

17Are dividends and interest taxable for individuals?

Singapore one-tier dividends are tax-free for individuals — companies pay corporate tax on profits and shareholders receive distributions tax-free. This includes dividends from SGX-listed shares, S-REITs (tax-transparent) and Singapore-incorporated unit trusts.

Interest from MAS-approved banks and licensed finance companies in Singapore is also tax-free for individuals. This covers savings accounts, fixed deposits, Singapore Government Securities, T-bills and Singapore Savings Bonds. CPF interest is similarly tax-exempt. Foreign-sourced dividends and interest received in Singapore by individuals are also generally exempt.

IRAS — Tax on Interest & Dividends

18How are SRS withdrawals taxed?

At the statutory retirement age (currently 63, rising to 64 from 1 July 2026 for those born on or after 1 July 1963), only 50% of each SRS withdrawal is taxable. Withdrawals can be spread over up to 10 years, allowing income to be smoothed across years to manage tax bands.

Before retirement age: 100% of the withdrawal is taxable AND a 5% penalty applies. Foreigners can withdraw without penalty after 10 years from account opening, with the same 50% tax concession. In case of death or terminal illness, up to SGD 400,000 of SRS funds may be tax-exempt.

IRAS — Tax on SRS Withdrawals

19Are joint bank accounts taxed differently?

Since interest from MAS-approved banks is tax-free for individuals, joint accounts in Singapore do not create a taxable event regardless of how the holders split ownership.

For SDIC purposes, the SGD 100,000 protection limit on a joint account is split equally between holders unless the bank's records show otherwise — and each holder's share is then aggregated with their individual deposits at the same Scheme member.

SDIC — Joint Account Coverage

20How does inflation affect long-term Singapore savings?

Inflation reduces the real value of money over time. MAS targets approximately 2% MAS Core Inflation through its SGD-NEER (nominal effective exchange rate) policy band, rather than a fixed interest rate.

If a savings account earns 1% nominal and inflation is 2.5%, the real return is approximately -1.5% — purchasing power has fallen even though the dollar balance has grown. Over 20 years at 2.5% average inflation, SGD 100 today has the equivalent purchasing power of around SGD 61.

Investments that have historically outpaced Singapore inflation include diversified equities (STI long-term ~6–8% with dividends), S-REITs (5–8%), and CPF SA/MA/RA (4.0% floor) — though all carry varying levels of risk.

MAS — Monetary Policy

Important Disclaimer

For educational and informational purposes only. This calculator produces estimates based on the inputs provided and assumes a constant compounding rate over the projection period. Figures referenced reflect Singapore rates and rules current to May 2026: CPF interest rates Q2 2026 (OA 2.5% p.a. floor, SA/MA/RA 4.0% p.a. floor extended until 31 December 2026), CPF Retirement Sums for those turning 55 in 2026 (BRS SGD 110,200, FRS SGD 220,400, ERS SGD 440,800), Basic Healthcare Sum SGD 79,000 (under 65), CPF monthly Ordinary Wage ceiling SGD 8,000, SRS contribution caps SGD 15,300 (Citizens/PRs) or SGD 35,700 (foreigners), and personal income tax relief cap SGD 80,000. The statutory retirement age rises from 63 to 64 from 1 July 2026. Past investment performance is not a reliable indicator of future returns.

No warranty of accuracy. While Money Snap takes reasonable care to source figures from official authorities (MAS, IRAS, CPF Board, SDIC, MoneySense), this calculator is provided "as is" without any express or implied warranty as to accuracy, completeness, timeliness, or fitness for any particular purpose. CPF interest rates are reviewed quarterly, retirement sums are revised annually, and tax thresholds change with each Budget — figures shown may be out of date following Budget announcements, MAS monetary policy decisions, or CPF Board updates. Individual circumstances including tax residency, citizenship status, employment income, CPF contribution history, scheme eligibility, and other reliefs claimed may materially affect actual outcomes.

Not financial advice. Information provided is general in nature only and does not take into account your personal circumstances, financial situation, or objectives. Results do not constitute financial, investment, tax, retirement, or insurance advice, and use of this calculator does not create an advisory relationship. Before acting on any figure shown, obtain personal advice from a MAS-licensed financial adviser (search the MAS Financial Institutions Directory), or seek free guidance from MoneySense. Tax queries can be directed to IRAS, and CPF queries to the CPF Board.

Limitation of liability. To the maximum extent permitted by law, Money Snap accepts no liability for any loss, damage, cost, or expense — direct or indirect — arising from reliance on this calculator or the information it produces. Investment products (SGX shares, ETFs, S-REITs, unit trusts, structured deposits, cryptocurrency) carry capital risk and may fall as well as rise in value. The Singapore Deposit Insurance Scheme protects eligible SGD deposits up to SGD 100,000 per depositor per Scheme member (raised from SGD 75,000 on 1 April 2024); CPFIS and CPFRS monies are aggregated separately and also protected up to SGD 100,000. SDIC coverage applies only where a Scheme member fails — it does not cover investment losses from market movements, foreign currency deposits, structured deposits, or unit trusts. Users are responsible for verifying all figures with the relevant authority before relying on them. Use of this calculator is subject to our Terms of Use.

Official data sources

CPF Board — Interest Rates CPF Board — Retirement Sums IRAS — SRS IRAS — Taxable Income MAS — Monetary Policy SDIC — Deposit Insurance MoneySense — MAS MAS Financial Institutions Directory ↗ MAS — Monetary Policy ↗ MAS — LTV & Tenure ↗ HDB — Concessionary Rate ↗ IRAS — BSD ↗ MoneySense

Singapore Compound Interest Calculator