From July 1 to Sept 30, the concessionary interest rate for HDB housing loans, which is pegged at 0.1 per cent above the Ordinary Account interest rate, will remain unchanged at 2.6 per cent a year, the Housing Board and CPF said in a joint statement on Friday .
These rates include the extra 1 per cent interest on the first $60,000 of their combined balances, capped at $20,000 for the Ordinary Account. They will receive an extra 1 per cent on the next $30,000. This means that they will earn up to 6 per cent interest a year on their retirement balances. The extra interest on the Ordinary Account will go into members' Special Account or Retirement Account.
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