Baby Bonus Scheme
(Children Development Account)
Use your baby Bonus to pay for all your children's cord blood banking services.
StemCord Pte Ltd, a healthcare institution licensed under the Private Hospitals and Medical Clinics (PHMC) Act is an Approved Institutions (AI) registered by Ministry of Social and Family Development (MSF) under the Baby Bonus Scheme. The money may be used by your children to pay for expenses incurred at StemCord for payment of
- Cord Blood Banking Enrolment Fee and/or
- Annual Storage Fee
Savings in the Children Development Account
Children Development Account (CDA)
This is a special savings account for your children. To join the Baby Bonus Scheme, a one-stop service is available at the birth registration counters at the hospitals and the Immigration & Checkpoints Authority.
From 1 August 2008, you will have more choices and enjoy better returns when OCBC Bank and Standard Chartered Bank take over from DBS as the new managing agents for the Baby Bonus Scheme.
Matching Government Contribution
Under the Scheme, the savings you contribute to your child’s Children Development Account (CDA) will be matched dollar-for-dollar by the Government.
For more information on the Ministry of Social and Family Development (MSF) Baby Bonus Scheme, visit www.babybonus.gov.sg.
FAQ for Children Development Co-Savings (Baby Bonus) Scheme
How do I get started if I want to use funds in the CDA for StemCord Cord Blood Banking Service?
|Upon enrolment, inform StemCord that you wish to use the CDA to pay for your child's cord blood banking service.
|Fill up the application form for Interbank GIRO (Form B) for OCBC Bank and Standard Chartered Bank and Billing Instruction Authorization Letter. Please ensure that the Name of your Child (as in CDA), Birth Certificate Number of your Child, Trustee’s Name (as in CDA) and CDA Account Number are properly completed. This is done only once for the same CDA. You need not submit the application to us for your subsequent billings.
|When you submit the Application for Interbank GIRO, we will require you to send the original copy together with your child’s birth certificate to allow us to deduct payments from your CDA. (The application will take at least 2 months to process after receiving your properly completed forms).
|An official receipt will be sent to you upon successful deduction of the payment from your CDA.
Do I need to pay before my application for interbank GIRO is approved by the bank?
No. We will require a credit card payment authorization upon enrolment until the bank has approved your interbank GIRO application. In the event that your application is not approved by the bank two (2) months from the actual delivery date, we will bill all fees payable to StemCord to its credit card provided.
What if I am using my child's CDA to pay for his/her sibling's cord blood banking service?
If you are using your child's CDA to pay for his/her sibling's cord blood banking service, please provide the birth certificate of his/her sibling for verification.
Do I need to submit the interbank GIRO form again if I want to use the CDA of a different child for StemCord Cord Blood Banking Service?
Yes, you need to submit the interbank GIRO form if you want to use the CDA of a different child for Cord Blood Banking Service.
Is there a limit on the amount which can be deducted from the CDA for the payment of cord blood banking service?
There is no restriction on the amount that can be deducted from the CDA for StemCord Cord Blood Banking service.
Can I use my Baby Bonus Card issued by the CDA Bank to make payment at StemCord?
Yes. You can visit our office at Gleneagles Medical Centre and pay via NETS using the Baby Bonus Card issued by your CDA Bank.
What do I need to do if I wish to terminate my interbank GIRO for CDA with StemCord?
If you wish to terminate the interbank GIRO for CDA with StemCord, please submit the Termination of Interbank GIRO form to your CDA Bank, and inform StemCord of the termination.
What happens if I terminate my child's cord blood service with StemCord but has pre-paid the annual storage using CDA?
The pro-rated amount will be refunded into your child’s CDA.
To download any of the following forms, please click on the name of the form: