SINGAPORE: The interest rate for Central Provident Fund (CPF) Special, MediSave and Retirement accounts will rise to 4.08 per cent in the third quarter of 2024.

It dipped to 4.05 per cent in the previous quarter, the first decrease after three consecutive increases.

The higher interest rate is due to an increase in the 12-month average yield of 10-year Singapore Government Securities, said the CPF Board and Housing Board (HDB) in a joint news release on Wednesday (May 29).

The interest rate for these accounts is pegged to the average yield plus 1 per cent.