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| Starts | 19 Oct 2026 (Mon) | Ends | 25 Oct 2026 (Sun) |
|---|---|---|---|
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A smaller deposit now unlocks Bank of China Singapore’s highest advertised general Time Deposit rate.
Update: Bank of China S’pore Latest Time Deposit Offers Up To 2.1% p.a. from 26 Oct 2026
From 19 October 2026, a new S$20,000 Singapore dollar Time Deposit placed for 12 months through BOC Mobile Banking qualifies for 2.05% p.a. Previously, the 2.05% p.a. options in the 12 October schedule required at least S$200,000.
Bank of China Singapore (BOC) continues to offer promotional rates for new SGD placements from S$500, with several tenors available. These are annualised interest rates, and the applicable rate depends on both the deposit amount and duration. A BOC Savings Account or Current Account and access to BOC Mobile Banking are required for placements under the general promotional schedule.
BOC Singapore Time Deposit promotional rates from 19 October 2026
The following advertised rates are for new Time Deposit placements via BOC Mobile Banking. Where several tenors share the same rate, they are grouped together for easier reading.
| Minimum Placement | Tenor | Interest Rate (% p.a.) |
|---|---|---|
| S$500 | 1 month | 1.10% |
| S$500 | 2 months | 1.20% |
| S$500 | 3 months | 1.60% |
| S$500 | 5 months | 1.50% |
| S$500 | 6, 9 or 12 months | 1.70% |
| S$500 | 18 months | 1.60% |
| S$500 | 24 months | 1.55% |
| S$20,000 | 3 months | 1.65% |
| S$20,000 | 6 months | 1.95% |
| S$20,000 | 9 months | 1.90% |
| S$20,000 | 12 months | 2.05% |
| S$200,000 | 3 months | 1.75% |
| S$200,000 | 6 or 12 months | 2.05% |
| S$200,000 | 9 months | 2.00% |
| S$200,000 | 18 months | 1.65% |
Longer does not necessarily mean higher: for instance, the S$500 five-month rate of 1.50% p.a. is lower than the three-month rate of 1.60% p.a. Likewise, the S$200,000 18-month rate is 1.65% p.a., below the six- and 12-month options. Other deposit tenors may also be available through BOC Mobile Banking. Check the available options and interest rate shown in the app before confirming a new placement, as promotional rates may change.
What changed from the 12 October 2026 promotion?
The maximum general promotional rate remains 2.05% p.a., but the qualifying amount has fallen substantially for the 12-month option. Compared with the 12 October 2026 BOC Singapore Time Deposit promotion, these are the changes confirmed by the latest rate cards:
- S$20,000 for 12 months: Increased from 1.95% to 2.05% p.a., up 0.10 percentage point. This tier now matches the advertised headline rate previously available only from S$200,000.
- S$20,000 for 6 months: Increased from 1.90% to 1.95% p.a., up 0.05 percentage point.
- S$20,000 for 9 months: Increased from 1.85% to 1.90% p.a., up 0.05 percentage point.
- S$500 and S$200,000 tiers: Rates for comparable tenors shown in both schedules remain unchanged. The latest images additionally show 1-, 2-, 18- and 24-month choices at S$500, plus an 18-month choice at S$200,000. Their omission from the previous article does not establish that they are newly introduced.
The most significant improvement is therefore at S$20,000: a 12-month placement can now access the same 2.05% p.a. advertised rate as a S$200,000 placement. The deposit remains committed for its selected tenor, so the highest percentage alone should not determine the choice.
How does BOC compare with other 12-month fixed deposits?
Other Singapore banks currently offer slightly higher annualised rates for comparable 12-month SGD deposits. These alternatives may be worth considering before committing funds.
| Bank and customer tier | Minimum Placement | 12-Month Rate (p.a.) |
|---|---|---|
| BOC general Mobile Banking promotion | S$20,000 | 2.05% |
| RHB Personal Banking | S$20,000 | 2.10% |
| RHB Premier Banking | S$20,000 | 2.20% |
| CIMB Personal Banking online | S$10,000 | 2.10% |
| CIMB Preferred Banking online | S$10,000 | 2.15% |
Important distinction: RHB’s 2.20% rate requires Premier Banking status, generally involving a Total Relationship Balance of S$200,000. CIMB’s 2.15% rate requires Preferred Banking status, with separate relationship requirements. Neither premium rate is automatically available simply by meeting the fixed deposit minimum. RHB accepts branch and mobile placements, while BOC’s advertised rates here require Mobile Banking.
RHB’s promotion covers new and existing individual customers, including joint-account holders, and qualifying renewals. Its campaign terms do not expressly require fresh funds. For further comparisons, see the RHB fixed deposit promotion from 9 October 2026 and CIMB fixed deposit promotion from 17 October 2026. Rates and account conditions may change before placement.
For current RHB promotional rates and placement conditions, refer to the official RHB Singapore Fixed Deposit promotion page.
Separate new-to-bank Time Deposit offer of up to 2.18% p.a.
Bank of China Singapore also has a separate promotion offering eligible new-to-bank personal customers 2.08% p.a. for individual fresh-funds placements of S$100,000 to S$199,999.99, or 2.18% p.a. for S$200,000 to S$250,000, over 4 or 8 months. This is distinct from the general Mobile Banking rate schedule and has additional eligibility requirements. See the official BOC new-to-bank promotion details and new-to-bank promotion terms and conditions (PDF) for details.
Important points to check before committing SGD funds
While the general promotional rates are available through Mobile Banking, several considerations can help determine which deposit amount and tenor are suitable.
- Applicant eligibility: BOC Singapore accepts SGD Time Deposit applications from eligible personal customers aged 15 and above, including Singapore Citizens, Permanent Residents and foreigners holding valid Work Passes, Student Passes, Long-Term Visit Passes or Dependant Passes, subject to the bank’s account-opening requirements.
- Linked banking account: A BOC Savings Account or Current Account is needed for the general offer. Consider account-opening deposits, minimum-balance requirements and possible service charges when assessing the overall arrangement.
- Placement amount: S$500 is the lowest advertised threshold, but 2.05% p.a. for 12 months requires at least S$20,000. The same headline rate is also advertised for S$200,000 over 6 months.
- Liquidity and tenor: Select a duration that fits planned expenses and emergency cash needs. Longer placements are not necessarily rewarded with higher annualised rates.
- Annualised interest: The advertised percentages are quoted per annum. The interest actually received depends on the principal amount and the length of the deposit term, particularly for tenors shorter than one year.
- Final rate confirmation: Review the interest rate displayed in BOC Mobile Banking before submitting a placement. The rate confirmed at the point of placement takes precedence over earlier promotional quotations.
- Transaction details: Verify the placement amount, selected tenor, funding account, maturity date and renewal instructions before confirming the transaction.
Is the refreshed BOC Time Deposit promotion worth considering?
For savers comfortable setting aside Singapore dollars for a fixed period, the latest BOC Singapore promotional schedule provides more flexibility at the S$20,000 placement level. The 2.05% p.a. rate for 12 months is particularly noteworthy because it previously required a substantially larger deposit under the general promotional schedule.
Smaller placements from S$500 continue to qualify for promotional rates, while S$200,000 placements retain the option of earning 2.05% p.a. over 6 or 12 months. Eligible new-to-bank customers may also wish to compare the separate special promotion, taking its different tenors and conditions into account.
Before committing funds, compare the interest rate, required placement amount, deposit duration and associated account requirements. Review the official BOC Singapore promotional rates and confirm the actual rate displayed in BOC Mobile Banking. With the top general promotional rate now available from S$20,000 for 12 months, the refreshed offer provides a more accessible option for savers seeking fixed returns on SGD deposits.
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