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BOC Singapore Revises Fixed Deposit Rates from 28 July 2025
Bank of China (BOC) Singapore has implemented a new downward revision of its fixed deposit (FD) interest rates for individual depositors, effective from Monday, 28 July 2025. This revision follows the offer that previously offered up to 1.8% p.a. on 21 July 2025. The latest rate adjustment reflects broader market developments including macroeconomic tightening and conservative interest policy trends.
Despite the reduction, BOC is sustaining an attractive proposition for digital-first users. Customers who use the BOC Mobile Banking App can still enjoy a promotional rate of up to 1.7% p.a. with a low entry point of just S$500. This is in sharp contrast to over-the-counter placements, where a higher deposit of at least S$20,000 is required and the maximum interest rate is capped at 1.5% p.a..
📊 Updated Promotional FD Rates – Effective 28 July 2025
These revised rates apply exclusively to new personal time deposit placements. BOC clearly distinguishes its digital and branch-based offerings, giving a digital edge in both rate and accessibility.
| Currency | Tenor | Mobile Banking Promo Rates (New Placement) * | Counter Promo Rates | ||
|---|---|---|---|---|---|
| Minimum Amount | Interest Rates (% p.a.) | Minimum Amount | Interest Rates (% p.a.) | ||
| SGD | 1 month | S$500 | 1.55 | S$20,000 | 1.35 |
| 2 months | 1.60 | 1.35 | |||
| 3 months | 1.70 | 1.35 | |||
| 4 months | 1.70 | 1.35 | |||
| 5 months | 1.70 | 1.35 | |||
| 6 months | S$20,000 | 1.70 | – | ||
| S$500 | 1.65 | – | |||
| 9 months | S$500 | 1.55 | – | ||
| 12 months | S$20,000 | 1.50 | – | ||
| S$500 | 1.45 | – | |||
To qualify for these promotional rates, customers must have a valid BOC Savings or Current Account. Only fresh funds are eligible for the promotion, and the published rates are indicative and subject to change without prior notice.
📌 Important Terms & Conditions
- Open only to individual account holders.
- BOC reserves the right to revise interest rates at any time.
- Rates differ based on placement method: mobile app vs. in-person.
- Early withdrawals may lead to loss of interest accrued.
- Always review the official terms and conditions before committing to a deposit.
📍 Further Information
Visit the BOC Singapore official website for complete details on promotional rates and criteria.
Branch-based queries can be addressed using the BOC branch locator tool.
To compare deposit interest rates across Singapore banks, click here.
Disclaimer: All information provided is for reference only and subject to change. Customers should verify directly with the bank prior to deposit.
📝 Conclusion
Even amid rate adjustments, BOC Singapore continues to reward mobile-first banking behaviour with competitive returns and lower placement thresholds. This strategy not only supports digital adoption but also enables more inclusive access to attractive interest rates, especially for smaller retail savers. As always, customers should evaluate their options carefully and stay informed through official channels.
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