1. Baby Bonus: S$8,000 for the first and second babies born and S$10,000 for the third and fourth babies born. The allowance will be credited to the parent's account in 4 installments within 18 months of the baby's birth
2. MediSave Grant for Newborns: A child receives a S$4,000 medical allowance upon birth, which can be used to cover the child's insurance premiums, vaccine costs, hospitalization fees, and designated outpatient treatment costs.
3. Child Development Account (CDA), after opening an account at the bank, you will receive 3,000 Singapore dollars, after which the government will subsidize one dollar for every dollar deposited by parents, and the cap will be 9,000 yuan. This account can be used to cover educational expenses and medical expenses. When a child enters secondary school, the balance in this account is transferred to the secondary education account.
4. Edusave Account: The government deposits an education fund each year for the children of citizens between the ages of 6 and 16, depending on the family's income. Children who achieve excellent grades in both academic and non-academic fields will also be rewarded by the Education Fund.
5. Post Secondary Edusave Account (PSEA), the balance of the previous CDA and Edusave Account will be transferred to this account with a 2.5% interest.
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