Bank of China S’pore Refreshes Time Deposit Promo Rates Up to 2.05% p.a. From 12 Oct 2026

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Looking to earn more interest on spare Singapore dollars without visiting a bank branch?

💰 Bank of China Singapore (BOC) has refreshed its Personal Time Deposit promotional rates, offering up to 2.05% p.a. on eligible Singapore dollar deposits placed through BOC Mobile Banking. 📱

Effective from 12 October 2026, the latest promotion features a range of deposit tenors and minimum placement amounts, starting from just S$500. The highest advertised rate of 2.05% p.a. applies to new SGD Time Deposit placements of at least S$200,000 for 6 or 12 months.

The most notable rate improvement is for S$20,000 placed over 6 months, which now earns 1.90% p.a., up from 1.85% p.a. The advertised options also include 9-month tenors across all three placement tiers, with rates of up to 2.00% p.a. for that duration.

A BOC Savings Account or Current Account and access to BOC Mobile Banking are required to make placements under this general promotional schedule.

📊 Bank of China Singapore Time Deposit promotional rates from 12 October 2026

The following SGD promotional rates cover new placements through BOC Mobile Banking, with advertised minimum amounts of S$500, S$20,000 and S$200,000. All rates are quoted per annum. Other deposit tenors may also be available, so check the BOC Mobile Banking App for the complete range and the prevailing rate before making a placement. The interest rate confirmed at the point of placement takes precedence over earlier published quotations.

💡 Key highlights: For smaller deposits starting from S$500, the 6-, 9- and 12-month tenors offer the highest rate within that placement tier at 1.70% p.a. For placements of S$20,000, the 12-month option leads at 1.95% p.a., followed by 1.90% p.a. for 6 months. Larger placements of S$200,000 qualify for the overall headline rate of 2.05% p.a. when placed for 6 or 12 months.

Notably, longer tenors do not always provide higher annualised returns. The S$500 tier offers 1.60% p.a. for 3 months but only 1.50% p.a. for 5 months, while the S$200,000 tier offers 2.05% p.a. for 6 and 12 months compared with 2.00% p.a. for 9 months. Compare both the interest rate and the deposit duration before making a placement.

📈 What changed from the 5 October 2026 promotion?

Compared with the previous Bank of China Singapore Time Deposit promotion, the maximum promotional interest rate remains unchanged at 2.05% p.a.. However, the latest schedule includes several changes worth noting.

• 📈 S$20,000 for 6 months: The rate has increased from 1.85% to 1.90% p.a., a gain of 0.05 percentage point.
• 🗓️ 9-month tenors: Rates remain at 1.70%, 1.85% and 2.00% p.a. for the S$500, S$20,000 and S$200,000 tiers respectively. These were already available in BOC’s official 5 October schedule, although they were omitted from the earlier article as BOC’s social media visual did not list them.
• 📱 Other tenors: BOC’s previous official schedule also included 1-, 2-, 18- and 24-month options. These are not shown in the latest promotional selection, but their absence should not automatically be interpreted as discontinuation. Check BOC Mobile Banking for the available options and prevailing rates.

The S$20,000 six-month rate is the only confirmed increase against BOC’s official 5 October schedule. At the time of checking, BOC’s online rates archive still displayed the earlier 1.85% p.a. rate for this placement, compared with the 1.90% p.a. advertised from 12 October. Confirm the latest rate directly in BOC Mobile Banking before placing funds.

🌟 Separate new-to-bank Time Deposit offer with up to 2.18% p.a.

Bank of China Singapore also offers higher promotional rates for qualifying new-to-bank personal customers who open new BOCSG Multi-Currency Savings and Time Deposit accounts and place fresh SGD funds through BOC Mobile Banking.

⚠️ Important: New-to-bank promotional rates are determined by each individual placement, not the combined amount deposited. For example, two separate S$100,000 placements would each earn 2.08% p.a., rather than qualifying for 2.18% p.a. The total cumulative placement under this special promotion is capped at S$250,000, and instructions exceeding that limit will be rejected.

To qualify, applicants must have had no banking relationship with BOC Singapore since 1 January 2026 before applying. Both new accounts must be opened and approved within the promotion period. Fresh funds must meet BOC’s requirements, including restrictions on funds transferred from existing BOC accounts or withdrawn and redeposited within the preceding 30 calendar days.

📌 Both accounts must remain valid and in good standing, and the deposit must be held until maturity. Upon maturity, the deposit will automatically renew at BOC’s prevailing board rates unless alternative instructions have been given. The promotional interest rate should therefore not be assumed to continue into the next deposit term.

The 2.18% p.a. special rate and the general 2.05% p.a. rate have different tenors and eligibility requirements, so they are not directly interchangeable. Check the official BOC new-to-bank promotion details and new-to-bank promotion terms and conditions (PDF) before applying.

✅ Important checks before placing a BOC Time Deposit

Although the placement process can be completed digitally, several practical considerations are worth reviewing before committing funds.

• 👤 Applicant eligibility: BOC Singapore accepts SGD Time Deposit applications from eligible personal customers aged 15 and above. Eligible applicants include 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.
• 🏦 Existing banking relationship: A BOC Savings Account or Current Account is required for the general Mobile Banking placement. Check any account-opening deposit, minimum-balance requirement and applicable service charges when selecting an account.
• 💰 Placement threshold: The headline 2.05% p.a. rate requires a minimum placement of S$200,000 for an eligible 6- or 12-month tenor. Lower deposit amounts qualify for different promotional rates.
• 📅 Deposit duration: Choose a tenor that matches the expected need for the funds. Consider near-term expenses and emergency cash requirements before committing a substantial sum.
• 📊 Annualised interest: Promotional rates are quoted per annum, so the actual interest earned depends on the amount placed and the deposit duration.
• 📱 Final rate confirmation: Check the interest rate displayed in the BOC Mobile Banking App before submitting the placement. Promotional rates and available tenors may be revised.
• ✅ Transaction details: Verify the amount, tenor, maturity date, funding account and maturity instructions before completing the transaction.

📱 How to place a BOC Singapore Time Deposit through Mobile Banking

Eligible customers with a BOC Savings Account or Current Account and active Mobile Banking access can make a new SGD Time Deposit placement through the BOC Mobile Banking App without visiting a branch.

Existing BOC customers who have not registered for Mobile Banking can arrange registration through Personal Online Banking or at a BOC branch. For assistance with account opening or Mobile Banking setup, refer to the official BOC Singapore branch list before making a visit.

🏦 Note that the Marine Parade Wealth Management Centre is an appointment-only facility dedicated to Prestigious Wealth Management customers. Select an appropriate branch for general banking enquiries.

🔎 Useful official BOC Singapore resources

For the latest promotional-rate information and guidance on digital Time Deposit placements, the following official resources may be useful:

• 📊 BOC Singapore promotional interest rates archive – Review the bank’s published promotional-rate information.
• 📱 BOC Mobile Banking FAQ – Find assistance with Mobile Banking registration and services.
• 📲 BOC Mobile Banking App download page – Access information about the official Mobile Banking App.
• 🏦 BOC Time Deposit Account information – Review account features and relevant banking information.

📊 Comparing other banks? The RHB Singapore fixed deposit promotion from 9 October 2026 offers 2.10% p.a. for a 12-month S$20,000 placement under Personal Banking, compared with BOC’s 1.95% p.a. for the same amount and tenor. That represents approximately S$30 more interest over one year on S$20,000. Account requirements and placement conditions differ, so compare the complete offers before making a decision.

💡 Is the latest BOC Time Deposit promotion worth considering?

For savers comfortable setting aside SGD funds for a fixed period, Bank of China Singapore’s refreshed promotion offers several options across different placement amounts and tenors. The 2.05% p.a. headline rate remains available for qualifying S$200,000 placements over 6 or 12 months, while the improved 1.90% p.a. six-month rate for S$20,000 may appeal to those looking for a lower entry amount.

Smaller deposits starting from S$500 also remain eligible for promotional interest rates, although the returns are lower. Eligible new-to-bank applicants with larger sums available should separately consider the 2.08% to 2.18% p.a. special offer and its additional requirements.

Before committing, compare the interest rate, placement amount, deposit duration and any account requirements. Review the official BOC Singapore promotional rates and verify the actual interest rate displayed in BOC Mobile Banking before confirming the placement. 💰

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