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BOC Singapore Cuts Fixed Deposit Rates From 14 July 2025, Digital Savers Get Best Deal
Update 21 July: BOC Trims Fixed Deposit Rates From 21 July 2025, Mobile App Users Still Earn Up to 1.8%
Bank of China (BOC) Singapore has made a downward revision to its fixed deposit (FD) interest rates for individual customers, with new rates officially taking effect from Monday, 14 July 2025. The latest update reflects a continued adjustment in line with shifting macroeconomic conditions, following a previous promotional high of 1.86% from 7 July 2025.
Despite the rate cut, BOC is still offering a competitive promotional rate of up to 1.82% p.a. – but exclusively through the BOC Mobile Banking App. The campaign seeks to reward digital-first customers by offering more attractive yields for deposits as low as S$500. This mobile-centric approach aims to nudge retail savers toward digital banking channels for greater convenience and value.
📊 Latest Promotional FD Rates (As of 14 July 2025)
The revised rates apply only to new personal time deposit placements and are segmented based on placement method – mobile vs counter service. Mobile users benefit from lower entry requirements and slightly better returns, while in-person placements at BOC counters require a substantially higher minimum of S$20,000.
| 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 | 1.80 | 20,000 | 1.60 |
| 2 months | 500 | 1.82 | 1.60 | |
| 3 months | 500 | 1.82 | 1.60 | |
| 4 months | 500 | 1.80 | 1.60 | |
| 5 months | 500 | 1.75 | 1.55 | |
| 6 months | 20,000 | 1.75 | 1.55 | |
| 500 | 1.70 | . | ||
| 9 months | 500 | 1.70 | 1.50 | |
| 12 months | 20,000 | 1.65 | ||
| 500 | 1.60 | |||
To qualify for these promotional rates, customers must hold a valid BOC Savings or Current Account. Only new placements are eligible, and the bank has reiterated that all interest rates shown are indicative and subject to change without notice.
📌 Key Terms & Conditions
- Available exclusively to individual account holders.
- All rates are indicative and can be modified at the bank’s discretion.
- Interest varies by deposit method – mobile app vs over-the-counter.
- Premature withdrawals may affect interest payouts.
- Refer to the most current terms and conditions before placing deposits.
📍 Learn More or Get Help
For updated rates and services, customers can visit the BOC Singapore official website.
In-person assistance is available through the BOC branch locator.
To compare fixed deposit promotions across other banks in Singapore, click here.
📝 Conclusion
While BOC Singapore’s revised fixed deposit rates reflect a cautious step in response to prevailing market trends, digital-savvy customers continue to benefit from relatively higher returns. By lowering the minimum amount for mobile deposits and maintaining competitive rates up to 1.82% p.a., the bank reinforces its commitment to enhancing its digital banking proposition – a move that aligns well with the financial habits of today’s tech-conscious savers.
Disclaimer: Interest rates and promotions are subject to change. Customers are advised to confirm details directly via official BOC channels prior to making any deposits.
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