 We are now on WhatsApp Channel. Click to join |
Looking for a straightforward place to park spare Singapore dollars at a fixed rate? 💰
Bank of China Singapore is running a short Personal Time Deposit promotion from 20 July 2026, with promotional rates of up to 1.55% p.a. for new SGD placements completed through BOC Mobile Banking 📱.
The entry amount starts from S$500, although the highest rate has a higher placement requirement. A 6, 9 or 12-month placement earns 1.50% p.a. from S$500, while the headline 1.55% p.a. rate requires S$200,000 for the same tenors. Rates for shorter and longer tenors range from 1.10% to 1.40% p.a.
💡 Is the S$200,000 tier worth it? The additional 0.05 percentage point over the S$500 tier adds only about S$50 over 6 months, S$75 over 9 months or S$100 over 12 months on a S$200,000 placement, before any differences caused by the bank’s day-count method. The higher threshold should therefore be weighed against liquidity needs and deposit-insurance exposure.
Compared with the earlier 13 July 2026 update, the S$500 rate for 6, 9 and 12 months remains at 1.50% p.a. The change is a new S$200,000 minimum tier paying 1.55% p.a., an uplift of 0.05 percentage points for qualifying larger placements. 💹
✨ Promotion highlights
- 🏦 Bank: Bank of China Singapore
- 📅 Promotion period: From 20 July 2026
- 📈 Highest promotional rate: 1.55% p.a.
- 💵 Minimum placement: S$500 for most listed promotional tiers
- 💰 Amount needed for 1.55% p.a.: S$200,000
- ⏳ Tenors eligible for the top rate: 6, 9 or 12 months
- 📲 Placement channel: BOC Mobile Banking
- 🆕 Placement type: New SGD Personal Time Deposit
- 🛡️ Deposit protection: Singapore dollar deposits of non-bank depositors are insured by the Singapore Deposit Insurance Corporation for up to S$100,000 in aggregate per depositor per Scheme member by law. Foreign currency deposits, structured deposits, dual currency investments and other investment products are not insured.
📊 Mobile Banking promotional interest rates
| Tenor | Minimum amount | Interest rate (% p.a.) |
|---|---|---|
| 1 month | S$500 | 1.10 |
| 2 months | S$500 | 1.20 |
| 3 or 5 months | S$500 | 1.35 |
| 6, 9 or 12 months | S$500 | 1.50 |
| 6, 9 or 12 months | S$200,000 | 1.55 |
| 18 months | S$500 | 1.40 |
| 24 months | S$500 | 1.40 |
Interest rates are quoted per annum. A shorter placement therefore earns a prorated amount rather than the full annual percentage.
📝 Things to know before placing
- 📱 Mobile placement: Promotional rates apply to new SGD time deposit placements made through BOC Mobile Banking.
- 🏦 Account requirement: A BOC Savings Account or Current Account is required to make a time deposit placement through mobile banking.
- 👤 Eligibility: SGD Time Deposit applicants must be at least 15 years old. Eligible applicants include Singapore Citizens, Permanent Residents and foreigners holding a Work Pass, Student Pass, Long-Term Visit Pass or Dependant Pass.
- 📈 Rate confirmation: Promotional rates are indicative and apply to personal customers. The applicable rate is the rate available when the placement is confirmed.
- ⏰ Overnight placements: Rates displayed between 12.00am and 6.00am are indicative and subject to change. The actual rate is confirmed on BOC’s website and mobile app after 6.00am on the same day.
- ⚠️ Premature withdrawal: Withdrawing the time deposit before maturity may lead to a loss of interest. Check the terms for the selected tenor before confirming the placement.
- ✅ Final checks: Verify the amount, tenor, interest rate, maturity date and funding account before confirming the transaction.
- 📋 Standard eligibility requirements, placement conditions and prevailing bank terms apply.
📱 How to place the time deposit
- Log in to the BOC Mobile Banking App.
- Select the Time Deposit placement function.
- Choose SGD, select the preferred tenor and enter the placement amount.
- Review the displayed rate, maturity date and funding account.
- Confirm the placement after checking all details.
The time deposit itself can be placed without visiting a branch once an eligible BOC Savings or Current Account and working Mobile Banking access are ready. Existing customers who have not registered for Mobile Banking may need to activate access through Personal Online Banking or at a BOC branch. New account applications can be started by scanning the QR code in the promotion artwork or opening the decoded BOC account application page 🔗.
🔗 Useful links
Review BOC’s published promotional-rate updates through the official BOC promotion rates archive. For mobile banking assistance, visit the official Mobile Banking FAQ, Mobile Banking App download page and the Time Deposit Account page. Compare other offers via the Singapore deposit rates guide. Branch information is available on the official branches page.
🏦 Branch locations
BOC Singapore branches include Main Branch, Marine Parade Wealth Management Centre (by appointment only), Chinatown, North, Tampines, Jurong East, Woodlands, Toa Payoh, Bedok, Punggol, Tiong Bahru and Ang Mo Kio. Branch operating hours and queue availability may vary, so checking the official branches page before visiting remains advisable.
💡 This promotion may suit funds that can stay untouched until maturity. The 6, 9 and 12-month options offer the strongest listed rates, but the extra 0.05 percentage point at the top tier requires a sizeable S$200,000 placement. Compare the incremental return against liquidity needs, confirm the live rate in the app, and complete the placement.
In summary: The offer combines a low S$500 entry point with a higher 1.55% p.a. tier for larger placements. Careful checking of the tenor, amount threshold and maturity terms helps ensure the selected placement matches the intended savings period. ✅
Leave a Reply