Open a POSB Smiley Child Development Account (CDA)
Apply for a CDA when you join the Baby Bonus Scheme, simply select POSB/DBS Bank as your selected CDA Bank.
Singaporean/PR Trustee/Foreigner/Third Party Trustee
You can open a CDA account if you are the parent or nominated trustee of the child. When you log in to MSF LifeSG to join the scheme, you will need to:
- Select POSB/DBS Bank and accept the Terms and Conditions of the selected CDA bank.
- You will be directed to POSB CDA official website.
- Login with your IB credentials.
- Follow the steps for CDA opening.
- Check trustee and child’s information and submit the application.
The CDA will be automatically opened instantly after the CDA trustee accepts the Terms and Conditions online.
Note
- A Child Savings Account (CSA), being a Joint-Alternate My Account (Kids) will be automatically opened with each opening of CDA (including CDA transferred from other banks).
- The CSA will receive Government disbursements like Baby Bonus Cash Gift, education awards and financial awards.
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