Raising children is not an easy job that you can neglect at the end of the day. It is a long-life process that you should be prepared for.
To get the best for your child, preparing the financial aspect is one of the ways to make it happen. OCBC CDA is one of the service providers that you can rely on.
If you have already OCBC CDA account, occasionally you will need to check the balance. Find out how to check OCBC CDA account balance in this article below.
What is OCBC CDA
It is undeniable that raising kid costs a lot of money and parents should be prepared for bearing that. That’s where OCBC CDA comes to help.
CDA which stands for Children Development Account, is an account of a saving program which encompasses in supporting a child/children development since birth until the child has finished 12th year of school. This program is not only conducted by OCBC but also by some other banks of Singapore.
The program is set for Singaporean parents who want to save some money for their children’s education tuition, wellness fund, as well as other needs. But the limit isn’t put there.
The users can also get some benefits coming from interest rate and merchants affiliated with OCBC CDA. These affiliates are mostly running in children-related businesses, such as informal school, hospital, etc.
What is the Use of CDA
Imagine having an unplanned baby when you cannot control what comes in and out your little family. That will be a little bit overwhelming especially if you are thinking about the child’s future.
Schools aren’t cheap at all, and although many countries have implemented free-tuition fee, it still requires many funds.
To be more specific, you can use the funds saved in CDA at any Baby Bonus Approved Institution for:
- Care centers, special education schools, as well as kindergartens.
- Programs required to provide early intervention (wellness-related)
- The purchase of tech-assisted assistive devices
- Any medical-related expenses; like the purchase of MediShield or private Medisave-integrated plans.
Check Child Development Account Balance Online
Since basically CDA is a saving account, then the answer for how to check OCBC CDA account balance is similar to checking the regular account saving balance.
It’s that simple and it can be done online (through mobile banking and internet banking).
So, in order to check your CDA account saving balance, you should do these procedures:
- Launch your browser and go to OCBC internet banking website.
- Then, login to your OCBC account with CDA program in. make sure to input the right access code as well as the right PIN.
- Once you have arrived in the main page, you will see the current balance of your CDA balance.
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Mobile banking app
- Similar to one in mobile banking app, you should also begin your balance-checking process by launching the OCBC mobile banking app first.
- The next step is to log in using your valid access code and PIN.
- After you logging in, you will see your current CDA account balance.
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Hopefully, the explanation above answers your curiosity about how to check OCBC CDA account balance. If you haven’t set your CDA account yet, you should do it since saving for your children’s school tuition will be better if done as early as possible.