 We are now on Telegram. Click to join |
Bank of China Singapore Revises Time Deposit Promotions, Introduces 2.25% Peak Rate via Mobile App
Bank of China (Singapore) has revised its promotional fixed deposit (FD) interest rates, unveiling updated offerings effective 19 May 2025. The revision comes shortly after a previous update on 12 May 2025. The latest changes reflect BOC’s strategy to remain competitive amid shifting interest rate expectations and customer demand for yield.
The highest available interest rate under this promotion is 2.25% per annum, which applies exclusively to selected tenures booked through the Bank of China Mobile Banking App. This digital-only rate continues to cater to tech-savvy customers who prefer mobile banking for their financial needs.
Revised Promotional Time Deposit Rates as of 19 May 2025
BOC’s time deposit promotion includes options for both traditional over-the-counter (OTC) placements and digital mobile banking placements. Each mode has distinct minimum deposit thresholds:
- Over-the-counter (OTC): Minimum deposit of S$10,000
- Mobile Banking App: Minimum deposit of just S$500
This dual-tier approach accommodates a wide spectrum of savers, from conservative in-branch clients to digital-first users seeking flexibility and ease of access.
Interest Rate Summary:
| Currency | Minimum Amount | Tenure | Interest Rates (% p.a.) | |
|---|---|---|---|---|
| Counter Promo Rates | Mobile Banking Promo Rates (New Placement) * | |||
| SGD | S$10,000 and above (Over the Counter)S$500 and above (Via Mobile Banking) | 1 month | 2.05 | 2.20 |
| 2 months | 2.05 | 2.20 | ||
| 3 months | 2.10 | 2.25 | ||
| 4 months | 2.10 | 2.25 | ||
| 5 months | 2.10 | 2.25 | ||
| 6 months | 2.05 | 2.20 | ||
| 9 months | 2.00 | 2.15 | ||
| 12 months | 2.00 | 2.15 | ||
| 18 months | 1.90 | 2.05 | ||
| 24 months | 1.75 | 1.90 | ||
Note: Mobile Promo Rates apply strictly to new time deposit placements via the BOC Mobile Banking App. Customers must hold a valid Savings or Current Account with BOC to qualify.
Important Notes for Depositors
- Rates under this campaign are available to personal banking customers only.
- All advertised rates are indicative and subject to change at the bank’s discretion.
- If there is any inconsistency between rates displayed online and in-branch, the platform-specific rate will prevail at the point of placement.
- Early withdrawals may result in loss of interest, either in part or in full.
- Customers are urged to confirm prevailing rates and read all terms prior to initiating any fixed deposit placements.
How to Access More Information
For the most updated list of time deposit promotions, visit the Bank of China (Singapore) official website.
Customers seeking in-person assistance can locate their nearest BOC branch and contact details by clicking here.
To compare time deposit rates across various banks in Singapore, visit this comparison page.
Disclaimer: Customers should always review the bank’s full terms and conditions before placing funds. Independent financial advice is recommended for any investment decisions.
Reminder: Interest rates may fluctuate without prior notice. Refer to BOC’s official channels for the most accurate and updated information.
Leave a Reply