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CPF, HDB interest rates remain unchanged
By Noor Mohd Aziz, Channel NewsAsia | Posted: 17 August 2006 1502 hrs

SINGAPORE : The CPF Board has said will continue to pay interest at 2.5 percent per annum to members for CPF savings in their Ordinary Account from 1 October to 31 December 2006.

This minimum rate is higher than the 12-month fixed deposit and savings rate of the major local banks for the May to July 2006 period.

Savings in the Medisave, Special and Retirement accounts will earn interest of 4 percent per year, the CPF said in its quarterly review.

HDB mortgage loans remain unchanged at 2.6 percent for the period 1 October 2006 to 31 December 2006.

The next revision of the CPF interest rate will be made on 1 January 2007. - CNA /ct