Interest rate for CPF Special and MediSave accounts rises to 4.04% in Q4
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https://www.channelnewsasia.com/singapore/cpf-special-medisave-account-interest-rate-rises-q4-2023-3787731
https://www.channelnewsasia.com/singapore/cpf-special-medisave-account-interest-rate-rises-q4-2023-3787731
From what i know cpf interest is compounded while ssb is simple one (i forgot the actual term, rate * invested amt). By right compunded interest give better result than simple one for the same rate over time.
Source: https://www.cpf.gov.sg/member/faq/growing-your-savings/cpf-interest-rates/how-is-my-cpf-interest-computed-and-credited-into-my-accounts -> first paragrah: compounded annually.
Using this calc https://www.investor.gov/financial-tools-calculators/calculators/compound-interest-calculator $1000 with 4% compounded interest gives you $3,243.40 1,000 with simple 4% rate gives you $2,200