U Save Rebate 2024 : Singapore Budget 2024 introduces U-Save rebates for households as part of the assurance package, aiming to alleviate the cost of living challenges for Singaporeans. With a substantial budget allocation of S$1.9 billion, this initiative is designed to make a positive impact on households across the nation.
U Save Rebate 2024
The U-Save Rebate 2024 in Singapore is a helpful support program for qualifying households, offering financial aid for utility expenses. Eligible households will receive the U-Save Rebate 2024 directly through their utilities accounts managed by SP Services, making it convenient and accessible for those in need.
Also read This : Singapore Personal Income Tax Rebate 2024 Eligibility criteria
Starting from January 2024 until December 2025, households can look forward to the Enhanced AP U-Save rebates being distributed in the regular quarters. This time around, the rebate amount has been increased by $20 compared to last year’s AP U-Save rebates, offering even more support to eligible households.
U Save Rebate 2024 Eligibility
To qualify for the U-Save Rebate 2024, you need to live in an HDB flat and meet specific eligibility criteria. This ensures that the financial assistance reaches those who need it most, making a positive impact on the lives of Singaporeans.
Residence and Ownership:
- If you own and reside in the HDB flat or rent out a portion of it: At least one Singapore Citizen owner/occupier must be living there.
- If you rent out the entire HDB flat: At least one Singapore Citizen tenant must be residing in the flat.
- Property Ownership Limitation: You cannot have ownership or stake in more than one property if:
- You are an owner/essential occupier living in or partially renting out the flat.
- All tenants if you rent out the entire flat.
- There are no income restrictions for eligibility.
U-Save Rebate Amount 2024
The U-Save Rebate 2024 amount varies based on two factors:
- HDB Flat Type: The amount of the U-Save Rebate 2024 depends on the type of HDB flat you live in. Here’s a breakdown of the rebate amounts for different flat types:
- 1- and 2-room flats: Up to $950
- 3-room flats: Up to $850
- 4-room flats: Up to $750
- 5-room flats: Up to $650
- Executive/Multi-generation flats: Up to $550
- Disbursement Year: The U-Save Rebate 2024 is disbursed in four quarters throughout the year, typically in April, July, October, and January. The exact amount you receive in each quarter may vary depending on the disbursement schedule and the specific quarter you receive the rebate.
The U-Save Rebate 2024 consists of two parts:
- Regular GSTV-U-Save: This rebate is disbursed quarterly (in January, April, July, and October) based on the above amounts for each HDB flat type.
- Additional Assurance Package (AP) U-Save: This rebate is double the regular amount and is disbursed in two tranches (in July and January).
For instance, if the regular GSTV-U-Save rebate for a 4-room flat is $750, the AP U-Save rebate for the same flat would be $1,500, and it would be disbursed in two equal parts, one in July and the other in January.This additional support is part of the Assurance Package, which aims to provide financial assistance to eligible households to help them cope with the cost of living challenges.
Combining both parts, the total U-Save Rebate amount you receive in 2024 depends on your flat type and when you’re reading this:
- Before July 2024: You have received the first three quarters of the regular GSTV-U-Save.
- After July 2024: You have received the first regular GSTV-U-Save tranche and the first AP U-Save tranche.
Here’s a breakdown of the total received amount based on your flat type:
- 1 & 2-room flat: $440 – $455
- 3-room flat: $380 – $395
- 4-room flat: $315 – $330
- 5-room flat: $250 – $265
- Executive/Multi-generation flat: $185 – $200
This total amount includes the regular GSTV-U-Save rebate and the additional AP U-Save rebate, providing financial assistance to eligible households to help them cope with the cost of living challenges.
U-Save Rebate Schedule 2024
The U-Save Rebate schedule for 2024 includes both the regular GSTV-U-Save and the additional Assurance Package (AP) U-Save. Here’s a breakdown of the disbursement dates and amounts for each part:Regular GSTV-U-Save:
- Disbursement Dates: January, April, July, October 2024
- Amounts: Vary based on HDB flat type (ranging from $65 to $130 per quarter)
Additional Assurance Package (AP) U-Save:
- Disbursement Dates: July 2024, January 2025
- Amounts: Double the regular GSTV-U-Save amount for your flat type
- Status: First tranche disbursed in July 2024.
- Remaining: Second tranche will be disbursed in January 2025
This schedule provides financial assistance to eligible households, helping them cope with the cost of living challenges.
| HDB Flat Type | Regular GSTV-U-Save (Jan, Apr, Oct 2024) | Additional AP U-Save (July 2024) | Regular GSTV-U-Save (Jan 2025) | Total U-Save Rebate 2024 |
|---|---|---|---|---|
| 1 & 2-room | $195 | $390 | $65 | $650 |
| 3-room | $165 | $330 | $55 | $550 |
| 4-room | $135 | $270 | $45 | $450 |
| 5-room | $105 | $210 | $35 | $350 |
| Executive/Multi-Generation | $75 | $150 | $25 | $250 |
What’s the difference between regular and additional U-Save rebates?
In the past, the U-Save Rebate was a component of the Goods and Services Tax (GST) Voucher (GSTV) scheme. In 2023, a new program called the Assurance Package (AP) U-Save was introduced to provide additional support.
Regular GSTV-U-Save: This rebate is given out quarterly (in January, April, July, and October) and varies depending on the type of HDB flat. For 2024, the amounts range from $65 to $130 per quarter.AP U-Save: Disbursed in two installments (in July and January), this program doubles the usual rebate amount, offering increased relief to eligible households.
How to check the status of your U Save Rebate 2024?
Ensuring you receive the correct U-Save Rebate amount is important. Here are some user-friendly options to help you verify and track your rebate:
- Automatic Disbursement: The U-Save Rebate is automatically disbursed based on your eligibility and HDB records. There’s no need to apply or register, and you don’t have to actively monitor its status.
- Fixed Schedule: The regular GSTV-U-Save is distributed quarterly (in January, April, July, October), while the AP U-Save is disbursed in two tranches (in July and January).
- Direct Crediting: The rebates are directly credited to your bank account or Singapore General Hospital (SGH) MediSave account linked to your HDB flat.
If you have concerns about your eligibility or if you haven’t received the expected amount, follow these steps:
- Verify Your Eligibility:
- Review the eligibility criteria mentioned earlier.
- Check your HDB flat type and compare it to the disbursement amounts.
- Look for Past Transactions:
- Check your bank or MediSave account statements for recent deposits labeled “U-Save Rebate” around the disbursement dates.
- Contact the Ministry of Finance (MOF):
- If you suspect an error or haven’t received the expected amount, reach out to MOF through their website: https://govbenefits.gov.sg/.