OCBC now allows customers to make a deposit with their CPF Ordinary Account (CPF OA) funds and earn 3.4% p.a. for the 12-month SGD Time Deposit. The CPF OA interest rate is currently 2.5% p.a. 3.4% is obviously higher than 2.5%. Does this mean that you should withdraw your OA funds straightaway and put them with OCBC? As a kiasu Singaporean, I quickly went to down to an OCBC branch to find out how the fixed deposit for CPF fund works. Here’s what I found out so you don’t have to queue like I did to decide! Source: Business Times How does the OCBC fixed deposit for CPF ordinary account savings work? This works in the same fashion as any other fixed deposits, except that the money is coming from your CPF OA instead of cash. You will have to visit the branch and apply (happy waiting). You cannot do it through iBanking....