BankBazaar Singapore – January 2, 2018
SINGAPORE: The Ministry of Finance (MOF) in Singapore has announced that almost 880,000 families living in HDB houses will get the U-Save (Utilities-Save) rebate in January. This scheme will help HDB flat owners to save on their utilities bills, lowering the total household expenses.
Depending on the type of HDB flat, each family will get a maximum U-Save rebate of S$95 per quarter or S$380 a year.
The MOF declared that a one-room or a two-room flat owner will get S$95, a three-room flat owner will get S$85, and a four-room flat owner will receive S$75. HDB houses with five rooms and multi-generation flats will receive S$65 and S$55, respectively. The U-Save rebate will only be given to those members who own just one HDB property. Check out for interest rates on HDB home loan
U-Save, the first component of the permanent GST Voucher Scheme, was launched in July 2017 and is given out every quarter. Last year, the Government of Singapore gave out rebates worth S$190 million. The cost to the government this year is estimated to be S$265 million.
The second component is cash for lower-income groups in Singapore, given in August every year. The last component is Medisave top-up for senior citizen Singaporeans (65 years and above) to take care of their medical requirements.