I recall one mummy was asking about it so ... for your information:
Cash Gift
You will get a cash gift of up to $4,000 each for your 1st and 2nd child
Matching Government Contribution in Child Development Account (CDA) for children eligible for Baby Bonus
The CDA is a special savings account that you open at any OCBC or Standard Chartered Bank branch
You can save in the CDA any time until 31 December in the year your child turns 12 years of age.
The savings will be matched up to the cap of $6,000 each for the first and second child, The Government will match your savings in the following month.
The savings in the CDA may be used to pay
1. fees for all your children who are attending Approved Institutions registered with MCYS under the Baby Bonus Scheme.
These include child care centres, kindergartens & special education schools registered with the MOE or the Council for Private Education (CPE), and early intervention programmes registered with the National Council of Social Service (NCSS) or the Centre for Enabled Living (CEL).
2. The CDA savings can also be used to purchase MediShield or Medisave-approved private integrated plans for all your children and pay for all your children’s medical-related expenses. These would include consultation fees, treatment fees and prescription costs incurred at healthcare institutions.