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Bank of China Singapore to Revise FD Rates From 7 July 2025; Mobile Placements Rewarded
Update 14 July: BOC Latest Fixed Deposit Rates as of 14 July 2025, Mobile App Users Still Enjoy Up to 1.82%
In a measured response to evolving economic conditions, Bank of China (BOC) Singapore has announced a downward revision to its fixed deposit (FD) interest rates for personal banking clients. This change will take effect from Monday, 7 July 2025, and marks the second rate revision within a fortnight, the last being on 30 June 2025.
The updated fixed deposit offering includes a mobile-exclusive promotional rate of up to 1.86% per annum, available through the BOC Mobile Banking App. Requiring a modest minimum deposit of just S$500, this initiative targets retail savers who prefer the convenience and efficiency of digital banking.
💰 Revised Promotional FD Rates (As at 23 June 2025)
The updated FD promotion encompasses various tenors with differentiated rates based on the channel of deposit placement. Mobile users benefit from lower minimum requirements and slightly more favourable rates, while those opting for over-the-counter (OTC) placements face a higher minimum of S$20,000 and marginally lower yields.
| 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 | 1.85 | 1.65 | |
| 3 months | 500 | 1.86 | 1.65 | |
| 4 months | 500 | 1.83 | 1.60 | |
| 5 months | 500 | 1.80 | 1.60 | |
| 6 months | 20,000 | 1.82 | 1.60 | |
| 500 | 1.80 | – | ||
| 9 months | 500 | 1.75 | 1.55 | |
| 12 months | 20,000 | 1.70 | – | |
| 500 | 1.65 | – | ||
These promotional rates are strictly applicable to new time deposit placements and are exclusive to personal account holders with an existing BOC Savings or Current Account. The bank has reiterated its encouragement for customers to explore digital banking solutions, citing improved rates and streamlined customer experience.
📌 Terms & Conditions At a Glance
- Offer valid for individual customers only.
- Displayed interest rates are indicative and may be revised without prior notice.
- Rates vary by placement method – mobile app vs counter service.
- Premature withdrawal may lead to forfeiture or reduction of accrued interest.
- Customers are advised to consult current terms and conditions prior to deposit placement.
📍 Further Assistance & Tools
To explore current deposit offerings, visit the BOC Singapore website.
For physical branch support, refer to the branch locator tool.
To benchmark BOC’s FD offerings against others in Singapore, click here.
Disclaimer: Promotional terms, conditions and interest rates are subject to change. Clients are encouraged to verify details through official BOC platforms before making any decisions.
📝 Conclusion
BOC Singapore’s latest rate revision illustrates the bank’s effort to remain responsive to economic shifts while promoting digital adoption among personal banking clients. The emphasis on mobile placements rewards digitally savvy customers with higher returns and lower barriers to entry, reinforcing a broader trend in Singapore’s retail banking sector towards digital-first solutions. While overall rates have dipped slightly, the strategic targeting of online channels ensures competitive value remains accessible for low to mid-level depositors.
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