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Updated Fixed Deposit Rates, Effective 16 June 2025
Update 30 Jun: Bank of China Singapore Cuts FD Rates from 30 Jun 2025, Get Up to 1.95% p.a.
Bank of China (BOC) Singapore has revised its fixed deposit (FD) interest rates for personal banking customers, as part of its ongoing strategy to remain competitive amid fluctuating interest rate trends. This new rate structure officially takes effect from Monday, 16 June 2025, and supersedes the previous update announced on 9 June 2025. The adjustment features a modest reduction of approximately 0.05% across most tenors.
Highlighting this update is a mobile-exclusive promotional rate of up to 2% per annum, available only through the BOC Mobile Banking App. This move continues the bank’s digital-first approach in rewarding mobile users with more favourable returns for lower minimum placements.
📊 Overview of Time Deposit Promotional Rates (As of 23 June 2025)
The promotional FD rates vary according to the deposit tenor and placement channel. Deposits made through the mobile app start from as low as S$500, whereas over-the-counter (OTC) placements require a higher minimum of S$20,000. The mobile rates are structured to be more attractive across most durations.
(Rates updated as of 23 Jun)
| Tenor | Mobile Banking Promo Rates (New Placement) | Counter Promo Rates | ||
|---|---|---|---|---|
| Minimum Amount (SGD) | Interest Rates (% p.a.) | Minimum Amount (SGD) | Interest Rates (% p.a.) | |
| 1 month | 500 | 1.85 | 20,000 | 1.65 |
| 2 months | 500 | 2.00 | 1.80 | |
| 3 months | 500 | 2.00 | 1.80 | |
| 4 months | 500 | 1.95 | 1.75 | |
| 5 months | 500 | 1.90 | 1.70 | |
| 6 months | 20,000 | 1.90 | 1.70 | |
| 500 | 1.85 | – | ||
| 9 months | 500 | 1.85 | 1.60 | |
| 12 months | 20,000 | 1.80 | – | |
| 500 | 1.75 | |||
These promotional rates are applicable only for new time deposit placements and are restricted to individual account holders with a valid BOC Savings or Current Account. Customers are encouraged to use the mobile app for the most competitive rates.
📌 Key Terms & Conditions
- Applies exclusively to personal banking customers.
- Rates quoted are indicative and may be revised without prior notice.
- In the event of a discrepancy between mobile and branch rates, the platform-specific rate will prevail.
- Early withdrawals may lead to partial or no interest payout.
- It is advisable to check the latest rates and read the full terms and conditions before proceeding with any placement.
📍 More Information & Assistance
Visit the official BOC Singapore website for full details and regular updates on deposit promotions.
Need branch assistance? Use the branch locator tool.
For a comparison of top fixed deposit offers across banks in Singapore, click here.
Disclaimer: Promotional rates and product terms are subject to change. Always refer to BOC’s official communications for the most accurate information.
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