2.1 Opening of CDA Account

2.1.1 You may open the CDA Account for the benefit of the Member if you:-

(a) are a parent or legal guardian of a Member or such person approved by the Government as an approved person;

(b) have attained the age of 18 years;

(c) are not a bankrupt; and

(d) have the necessary documents as prescribed by the Child Development Account Legislation.

2.1.2 The CDA Account shall be opened in your name and you shall be known as the "Trustee".

2.1.3 If the Trustee is an existing customer of OCBC Bank holding one or more deposit account(s) whether singly or jointly, OCBC Bank shall be entitled to adopt the Trustee's specimen signature to operate any of the said deposit account(s), based on the latest record maintained with OCBC Bank, as the specimen signature used to operate the CDA Account. If the Trustee is not an existing customer of OCBC Bank or OCBC Bank otherwise determines, the Trustee will be required to submit a specimen signature to be used to operate the CDA Account to OCBC Bank.

2.1.4 Both the Member's name and the Trustee's name shall be entered in the title of the CDA Account.

2.1.5 At any one time, there will only be one Trustee and one Member for each CDA Account. A Member can only have one CDA Account.

2.1.6 Upon successful opening the CDA Account, OCBC Bank will issue the Trustee with an ATM card and provide the Electronic Services.

2.1.7 By applying for the CDA Account (where the application may be made to OCBC Bank directly or indirectly through a third party, such as the Government), you are deemed to have read and agreed to be bound by the Terms and Conditions Governing Deposit Accounts, Terms and Conditions Governing Electronic Banking Services (Personal), Terms and Conditions Governing OCBC Electronic Statements, Automatic Standing Instruction and Online Banking, as may be amended by OCBC Bank from time to time. By maintaining and/or continuing to operate the CDA Account, you are deemed to have agreed that you will continue to be bound by the Terms and Conditions Governing Deposit Accounts, Terms and Conditions Governing Electronic Banking Services (Personal), Terms and Conditions Governing OCBC Electronic Statements, Automatic Standing Instruction and Online Banking, as may be amended by OCBC Bank from time to time.

2.2. Change of Trustee

2.2.1 We shall upon receipt of instructions from the Government, replace the existing Trustee of the CDA Account (the "Existing Trustee") with another person as the Government may direct (the "New Trustee").

2.2.2 Without prejudice to the generality of clause 2.2.1 above, in the event that the Government notifies us of the death of the Existing Trustee, we shall upon receiving instructions from the Government, appoint the New Trustee to operate the CDA Account in replacement of the Existing Trustee. For the avoidance of doubt, the personal representatives, successors and/or permitted assigns of the Existing Trustee shall not be permitted to operate the CDA Account.

2.2.3 Upon the appointment of a New Trustee, we shall if requested by the New Trustee, furnish him/her with copies of the Statement of Account which we had previously sent to the Existing Trustee upon payment by the New Trustee of the prescribed fee.

2.3 Death of Member

We will close all CDA Accounts and pay the balance standing to the credit of any CDA Account together with any interest payable to the Government or any person nominated by the Government upon receiving notification of a Member's death from the Government. Such payment shall be treated as full and final discharge of our obligations.

2.4 Instructions

The Customer authorises OCBC Bank to accept, follow and act upon all instructions including for additional Products and Services to be made available to the Customer and OCBC Bank shall not be liable for acting upon such instructions in good faith. OCBC Bank shall neither be liable for acting upon such instructions nor be obliged to investigate the authenticity of such instructions or verify the accuracy and completeness of such instructions. Such instructions shall be deemed irrevocable and binding on the customer upon OCBC Bank's receipt notwithstanding any error, fraud, forgery, lack of clarity or misunderstanding in respect of the terms of such instructions. OCBC Bank shall be entitled but shall not be obliged to verify any instructions given via OCBC e-channels services by calling back online, via telephone or otherwise.

 2.5 Co-Payments by the Government

The Government shall make co-payments into the CDA Account of such amounts as are provided under the Child Development Co-Savings Scheme. We shall not be liable for any failure on the part of the Government to make the co-payments. Upon receiving instructions from the Government (and without enquiring as to the reasons for them), we shall debit from the CDA Account all or part of the co-payments made into the CDA Account by the Government and pay the same to the Government or such person as the Government may direct. We shall not be liable for any loss, damage or expenses suffered or incurred by the Trustee or the Member as a result of any action taken by us in accordance with the instructions from the Government or any failure by us to take action if we did not receive the necessary instructions from the Government.

2.6 Operation of CDA Account

2.6.1 You may arrange for standing orders via GIRO for transfer of funds to be deposited into the CDA Account subject to the terms and conditions of the standing order applications. You may also arrange for funds to be deposited into the CDA Account through such other means as we may permit form time to time.

2.6.2 You shall operate the CDA Account using such Electronic Services as we may stipulate subject to our terms and conditions. Withdrawals in person over the counter or by any other methods apart from the stipulated Electronic Services are not permitted. We are not bound to honour any withdrawal request if there are insufficient funds in the CDA Account.

2.6.3 Withdrawals from the CDA Account may only be made for the payment of Approved Expenses. We will not honour nor be liable or obliged for any withdrawal request from the CDA Account if we believe that the withdrawal is for a purpose other than the payment of Approved Expenses. Such withdrawals shall be deemed irrevocable. You hereby consent to OCBC Bank disclosing all information in relation to your OCBC CDA Account to any third party which OCBC Bank deems fit for purposes of GIRO deduction. However, we will not be liable if withdrawals from the CDA Account are utilised other than for payment of Approved Expenses.

2.6.4 We will not honour nor be liable or obliged for any request to transfer money from or out of the CDA Account, and we shall be entitled to seek the instructions and/or consent of the Government if we receive any such transfer request. We shall not be liable for any loss, damage or expenses suffered or incurred by the Customer as a result of the transfer request, any delay or failure by us to take action, any action taken by us in accordance with the instructions from the Government or any failure by us to take action if we do not receive the necessary instructions or consent from the Government.

2.6.5 We reserve the right at any time to suspend operations of the CDA Account (including, inter alia, terminating arrangements for withdrawals from the CDA Account via GIRO) as long as we deem fit if:

(a) we receive instructions from the Government to do so; or

(b) as a result of force majeure, any calamity or conditions, industrial action, power failure, computer breakdown or sabotage, or any reason whatsoever, our customers' records, accounts or services are unavailable or access to such records, accounts or services is hindered.

2.7 Closure of CDA Account

2.7.1 The CDA Account shall remain open until we receive instructions from the Government to close the CDA Account.

2.7.2 We shall upon the instructions of the Government, close the CDA Account and transfer the balance standing to the credit of the CDA Account together with any interest payable thereon to a designated account opened in the name of the Ministry of Education or such other bank account as the Government may direct. Such payment shall be treated as a full and final discharge of our obligations.

3.1 The provisions in this clause 3 shall apply only in relation to CDA Extra.

3.2 "CDA Extra" means an OCBC Child Development Account with arranged monthly funds transfers.

3.3 A Customer must have an existing CDA Account to qualify for CDA Extra.

3.4 We may in our sole and absolute discretion set a minimum amount which must be deposited into the CDA Account on a monthly basis (the "Minimum Monthly Deposit").The Minimum Monthly Deposit shall be deposited into the CDA Account by the last working day of the month.

3.5 The Minimum Monthly Deposit can be deposited into the CDA Account either via GIRO from a third party bank, debit from an OCBC bank account or in any other manner as may be allowed by the Bank in its sole and absolute discretion.

3.6 We shall have the sole and absolute discretion to convert the CDA Extra into a basic CDA Account without prior notice to you if you fail to deposit the Minimum Monthly Deposit into the CDA Account for 3 consecutive months.

3.7 In the event that your CDA Extra is converted to a basic CDA Account in accordance with Clause 3.6 above, we will terminate any monthly GIRO contribution from a third party bank or instructions to debit from an OCBC bank account only after our receipt of your written instructions.

4.1 The provisions in this clause 4 shall apply only in relation to CDA Time Deposit Account.

4.2 The CDA Time Deposit Account may only be opened by a Customer with an existing CDA Account.

4.3 We may in our sole and absolute discretion set a minimum amount to be placed as Time Deposits in the CDA Time Deposit Account.

4.4 All funds to be placed as Time Deposits in the CDA Time Deposit Account must be drawn from a CDA Account. Upon the maturity or early termination due to any reason whatsoever, of the Time Deposits, all funds shall be transferred back to the relevant CDA Account.

4.5 Termination of a CDA Account will result in the termination of the corresponding Time Deposit in the CDA Time Deposit Account.

You shall authorise the transfer of any information relating to the you and any customer information (as defined in the Banking Act Chapter 19) to and between the branches, subsidiaries, representative offices, affiliates and agents of the Bank and third parties selected by any of them wherever situated, for confidential use in connection with the provision of Products or Services to the Customer.

Without prejudice to the generality of the above or to any other provisions in these Terms and Conditions as well as the OCBC Terms and Conditions Governing Deposit Accounts, you hereby expressly authorise us to transfer any information relating to the Customer, and any customer information (as defined in the Banking Act Chapter 19) in relation to any CDA Account to the Government.

6.1 These Terms and Conditions shall be read in conjunction with the Terms and Conditions Governing Deposit Accounts, Terms and Conditions Governing Electronic Banking Services (Personal), Terms and Conditions Governing OCBC Electronic Statements, Automatic Standing Instruction and Online Banking, as may be amended by OCBC Bank from time to time. In the event of any conflict, these Terms and Conditions shall prevail.

6.2 Where other banking products are made available to you by OCBC Bank on separate terms, those terms shall be read in conjunction with these Terms and Conditions. In the event of any conflict, the specific terms applicable to the relevant products shall prevail.

These Terms and Conditions shall be governed and construed in all respects in accordance with the laws of the Republic of Singapore but in enforcing these Terms and Conditions the Bank is at liberty to initiate and take actions or proceedings or otherwise against the Customer in the Republic of Singapore or elsewhere as the Bank may deem fit, and the Customer hereby agrees that where any actions or proceedings are initiated and taken in the Republic of Singapore, the Customer shall submit to the jurisdiction of the Courts of the Republic of Singapore in all matters connected with the Customer's obligations and liabilities under or arising out of these Terms and Conditions.

Wholly Owned Subsidiaries

OCBC Bank has established two wholly-owned subsidiaries in Singapore and Malaysia to process certain selected transactions for OCBC Bank's customers and for this purpose, customer information may be disclosed to these subsidiaries. Please be assured that customer information will continue to remain within the OCBC Group (Oversea-Chinese Banking Corporation Limited and its related corporations) subject to any mandatory disclosure required by the relevant regulatory authorities.

Co. Reg. No.: 193200032W