By Baby Savings do you mean setting aside money for your child's future use? The money inside the CDA account can only be used for medical, education, some insurance for the child. You can refer to the full list here https://www.babybonus.msf.gov.sg/AI/documents/List%20of%20Approved%20CDA%20Uses.pdf You can top up the CDA account by transferring money to the account, but the money cannot be withdrawn. So if you are looking at a savings account where the money is accessible, then it won't be the CDA account. You can create a children's account at most banks or set aside an account (that has better interest) for your child. Another option for saving for your child's future is the savings plans offer by insurance companies. Hope this helps!