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Bank of China (Singapore) Revises Time Deposit Rates, Maintaining Peak Rate at 2.4% p.a.
In its latest move to remain competitive in the savings market, Bank of China (Singapore) has announced an update to its promotional time deposit interest rates, effective 28 April 2025. The revision follows the previous adjustment made on 21 April 2025, reflecting modest reductions across several tenures.
Despite the downward tweaks, the bank continues to offer a highly competitive peak rate of 2.4% per annum for eligible placements made through its mobile banking platform. This strategic update underscores Bank of China’s commitment to offering customers attractive, market-aligned saving options in a fluctuating economic environment.
Latest Promotional Time Deposit Rates
Customers have the flexibility to place their deposits either over the counter (OTC) or via the Bank of China Mobile Banking App. Minimum deposit thresholds are set at S$10,000 for OTC and S$500 for mobile banking placements, making it accessible for a wide range of savers.
The new promotional rates across various deposit tenures are as follows:
| Currency | Minimum Amount | Tenor | 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 | 2.25 | 2.35 |
| 2 months | 2.25 | 2.35 | ||
| 3 months | 2.30 | 2.40 | ||
| 4 months | 2.30 | 2.40 | ||
| 5 months | 2.30 | 2.40 | ||
| 6 months | 2.30 | 2.40 | ||
| 9 months | 2.25 | 2.35 | ||
| 12 months | 2.25 | 2.35 | ||
| 18 months | 2.10 | 2.20 | ||
| 24 months | 1.90 | 2.00 | ||
*Note: Mobile Banking Promo Rates apply solely to new placements via the BOC Mobile Banking App. An existing Savings or Current Account is a prerequisite for such placements.
Key Information for Depositors
- The promotional rates are indicative and strictly applicable to personal banking customers only.
- In the event of any rate discrepancies between online platforms, OTC, or mobile banking, the rates quoted at the counter or via mobile will prevail.
- Early withdrawal of deposits may lead to forfeiture of accrued interest earnings.
- Customers are advised to check the prevailing rates at the time of placement to ensure clarity and prevent misunderstandings.
Getting Started with Bank of China (Singapore)
For those interested in exploring the full suite of deposit offerings and promotional rates, visit the official Bank of China (Singapore) website.
Alternatively, customers can locate the nearest Bank of China branch for in-person assistance by clicking here.
To make a broader comparison of deposit rates offered by various financial institutions in Singapore, click here.
Disclaimer: Customers should always review the latest terms and conditions before committing to any time deposit placements and seek personalised financial advice where necessary.
Note: Always review the most current terms before placing any deposits, and consider speaking to a financial adviser for personalised guidance.
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