• Bank of China Fixed Deposit

    The first Singapore branch of Bank of China was established in 1936 with the bank providing basic banking services like remittance, deposits and exchange services. After 1978, Bank of China in Singapore extended its scope of services to include retail and corporate banking products. The bank has an experienced team of professionals and an extensive service network providing multiple solutions comprising of corporate banking, retail banking, China related trade financing and international trade settlements. Over the past 70 years, Bank of China time deposit schemes have been the most desired investment option for the Singaporeans. Bank of China has always functioned adeptly in Singapore, adhering to its commitment of promoting bilateral economic and trade relations between Singapore and China.

    Boc Fixed Deposit

    Singapore holds the unique distinction of having the maximum percentage of millionaires and Bank of China’s Prestigious Wealth Management unit offers a high level of personalized services to affluent Singaporeans. Currently with a network of five sub-branches and one remittance centre in Singapore, Bank of China has achieved a strong foothold in the flourishing Singapore banking industry. The main Singapore branch of Bank of China was awarded the Qualifying Full Bank License in 2012.

    About Bank of China Fixed Deposit Singapore

    Bank of China makes it very easy for a Singaporean to manage his wealth with its flexible time deposit schemes available at attractive interest rates and multi-currency deposit options. Customers can enjoy high returns on their investments with fixed deposit tenures when compared to traditional savings accounts.

    Why choose Bank of China Fixed Deposit?

    • Bank of China time deposits present an extensive range of currency choices and accounts can be opened in SGD, USD, RMB, EUR, NZD, GBP, AUD, CAD, JPY and HKD.
    • Bank of China customers need to place an initial deposit as mentioned below with respect to the currency selected for their time deposit account.

    Minimum Initial Deposit

    Currency Initial Deposit Amount
    SGD 5,000
    RMB 3,000
    USD 2,000
    EUR 5,000
    GBP 2,000
    NZD 5,000
    AUD 5,000
    JPY 500,000
    CAD 5,000
    HKD 50,000

    Bank of China Fixed Deposit - Eligibility

    • Singaporean citizens, permanent residents, foreigners with employment passes, work permits and students with valid passes, IDs and passports are eligible to open a time deposit account with Bank of China, Singapore.
    • Customers opening SGD time deposit accounts must be at least 15 years old at the time of opening of the account. For any other currency account, applicants must be at least 21 years of age.
    • Singapore citizens and permanent residents are required to provide their National Registration Identity Cards at the time of application. Foreigners need to submit valid travel documents, proof of address and passports.

    RMB Time Deposit

    Bank of China customers in Singapore can gain substantially with RMB time deposits earning higher interest rates than conventional savings accounts.

    • The RMB time deposit is available with flexible term tenures ranging from 1 month to 12 months.
    • Singaporean citizens, permanent residents and foreigners with valid employment passes, work permits or student passes with valid IDs and passports are eligible to apply for a RMB time deposit from Bank of China.
    • The bank mandates that applicants should be at least 21 years of age at the time of the account opening.
    • Singapore citizens and permanent residents are required to provide their National Registration Identity Cards at the time of application. Foreigners need to submit valid travel documents, proof of address and passports.

    SGD Time Deposit

    • Customers opening SGD time deposit accounts must be at least 15 years old at the time of opening of the account. For any other currency account, applicants must be at least 21 years of age.
    • Singaporean citizens, permanent residents, foreigners with employment passes, work permits and students with valid passes, IDs and passports are eligible to open SGD time deposit account with Bank of China, Singapore.

    BOC Fixed Deposit Interest Rates 2018

    BOC Singapore Dollar Time Deposit Rates

    Amount 1 Month (% p.a.) 3 Months (% p.a.) 6 Months (% p.a.) 9 Months (% p.a.) 12 Months (% p.a.) 24 Months (% p.a.) 36 Months (% p.a.)
    Up to S$19,999.99 0.175 0.3 0.4 0.45 0.6 0.7 0.7
    S$20,000.00 to S$49,999.99 0.1875 0.35 0.45 0.5 0.6 0.725 0.725
    S$50,000.00 to S$99,999.99 0.1875 0.35 0.45 0.5 0.6 0.725 0.725
    S$100,000.00 to S$299,999.99 0.1875 0.35 0.45 0.5 0.6 0.725 0.725
    S$300,000.00 to S$499,999.99 0.1875 0.35 0.45 0.5 0.6 0.725 0.725
    S$500,000 and above 0.1875 0.375 0.5 0.625 0.6875 0.76 0.950

    BOC Foreign Currency Time Deposit Rates

    BOC USD Time Deposit Rates

    Amount/Term 1 Month 3 Months 6 Months 9 Months 12 Months 24 Months 36 Months
    Up to USD 4,999.99 1.3125 1.5625 1.6875 1.8125 1.9375 - -
    USD 5,000.00 to USD 49,999.99 1.3125 1.5625 1.6875 1.8125 1.9375 - -
    USD 50,000.00 to USD 99,999.99 1.3125 1.5625 1.6875 1.8125 1.9375 - -
    USD 100,000 to USD 499,999.99 1.375 1.625 1.75 1.875 2 - -
    USD 500,000 and above 1.375 1.625 1.75 1.875 2 - -

    BOC AUD Time Deposit Rates

    Amount/Term 1 Month 3 Months 6 Months 9 Months 12 Months 24 Months 36 Months
    Up to AUD 4,999.99 0.9375 1.25 1.3125 - - - -
    AUD 5,000.00 to AUD 49,999.99 0.9375 1.25 1.3125 - - - -
    AUD 50,000.00 to AUD 99,999.99 1 1.3125 1.375 - - - -
    AUD 100,000 to AUD 499,999.99 1.1875 1.5 1.5625 - - - -
    AUD 500,000 and above 1.25 1.5625 1.625 - - - -

    BOC CAD Time Deposit Rates

    Amount/Term 1 Month 3 Months 6 Months 9 Months 12 Months 24 Months 36 Months
    Up to CAD 4,999.99 0.6875 0.875 1 - - - -
    CAD 5,000.00 to CAD 49,999.99 0.75 0.9375 1.0625 - - - -
    CAD 50,000.00 to CAD 99,999.99 0.8125 1 1.125 - - - -
    CAD 100,000 to CAD 499,999.99 0.875 1.0625 1.1875 - - - -
    CAD 500,000 and above 0.9375 1.125 1.25 - - - -

    BOC RMB Time Deposit Rates

    Amount/Term 1 Month 3 Months 6 Months 9 Months 12 Months 24 Months 36 Months
    Up to RMB 199,999.99 1.85 1.85 2 2.1 2.2 - -
    RMB 200,000 and above 1.9 1.95 2.15 2.25 2.3 - -

    BOC EUR Time Deposite Rate

    Amount/Term 1 Month 3 Months 6 Months 9 Months 12 Months 24 Months 36 Months
    Up to EUR 4,999.99 0.0001 0.001 0.01 - - - -
    EUR 5,000.00 to EUR 49,999.99 0.0001 0.001 0.01 - - - -
    EUR 50,000.00 to EUR 99,999.99 0.0001 0.001 0.01 - - - -
    EUR 100,000 to EUR 499,999.99 0.0001 0.001 0.01 - - - -
    EUR 500,000 and above 0.0001 0.001 0.01 - - - -

    BOC GBP Time Deposit Rates

    Amount/Term 1 Month 3 Months 6 Months 9 Months 12 Months 24 Months 36 Months
    Up to GBP 4,999.99 0.125 0.25 0.375 - - - -
    GBP 5,000.00 to GBP 49,999.99 0.125 0.25 0.375 - - - -
    GBP 50,000.00 to GBP 99,999.99 0.1875 0.3125 0.4375 - - - -
    GBP100,000 to GBP 499,999.99 0.1875 0.3125 0.4375 - - - -
    GBP 500,000 and above 0.25 0.375 0.5 - - - -

    BOC HKD Fixed Deposit Rates

    Amount/Term 1 Month 3 Months 6 Months 9 Months 12 Months 24 Months 36 Months
    Up to HKD 99,999.99 0.4375 0.5625 0.75 - - - -
    HKD 100,000.00 to HKD 49,999.99 0.4375 0.5625 0.75 - - - -
    HKD 500,000 and above 0.5 0.625 0.875 - - - -

    BOC JPY Fixed Deposit Rates

    Amount/Term 1 Month 3 Months 6 Months 9 Months 12 Months 24 Months 36 Months
    Up to JPY 99,999.99 0.0001 0.0001 0.0001 - - - -
    JPY 1 Million to JPY 19,999,999.99 0.0001 0.0001 0.0001 - - - -
    JPY 20 Million to JPY 99,999,999.99 and above 0.0001 0.0001 0.0001 - - - -
    JPY 100 Million and above 0.0001 0.0001 0.0001        

    BOC NZD Fixed Deposit Rates

    Amount/Term 1 Month 3 Months 6 Months 9 Months 12 Months 24 Months 36 Months
    Up to NZD 9,999.99 1.4375 1.625 1.6875 - - - -
    NZD 10,000.00 to NZD 49,999.99 1.5 1.6875 1.75 - - - -
    NZD 50,000.00 to NZD 99,999.99 1.5 1.6875 1.75 - - - -
    NZD 100,000.00 to NZD 499,999.99 1.5625 1.75 1.8125 - - - -
    NZD 500,000.00 and above 1.625 1.8125 1.875        

    Bank of China Fixed Deposit Schemes

    Bank of China offers the following term deposit schemes in Singapore:

    1. BOC Time Deposit Account: This is the standard fixed deposit account but BOC offers it in 10 currencies:
      1. Chinese Renminbi (RMB)
      2. US Dollar (USD)
      3. New Zealand Dollar (NZD)
      4. Australian Dollar (AUD)
      5. Canadian Dollar (CAD)
      6. Hong Kong Dollar (HKD)
      7. Euro (EUR)
      8. Great Britain Pound (GBP)
      9. Japanese Yen (JPY)
    2. The minimum deposit required is 5,000 units for Euro, and Singapore, New Zealand, Australian and Canadian dollars; JPY500,000; HKD50,000; and  2,000 units of US dollar and Sterling Pound. The tenures range from 1 month to 3 years, though each currency has different maximum tenor availability. The deposits in SGD is protected by the Deposit Insurance Scheme.

    3. BOC RMB Time Deposit: This is a separate fixed deposit account for Chinese Renminbi. You can save your money for 1 to 12 months in this account. The minimum deposit amount is RMB3,000.

    Other Products offered by Bank of China

    • Corporate Banking
    • Trade Finance
    • Deposits for corporate as well as individual needs
    • BOC Credit Cards
    • Loans – BOC Personal Loan & BOC Home Loan
    • Treasury & Foreign exchange services
    • Remittance and Exchange
    • Wealth Management, etc.

    FAQs

    1. Can I open a Bank of China Fixed Deposit if I am not a citizen of Singapore?

      Yes. For this purpose, you will have to submit valid travel documents, proof of address and passports.

    2. Which currencies can I deposit in the fixed deposit account from Bank of China?

      Deposits can be made in 10 currencies: SGD, RMB, USD, EUR, GBP, NZD, AUD, JPY, CAD and HKD.

    3. Who is eligible to apply?

      Singaporean citizens, permanent residents, foreigners with employment passes, work permits and students with valid passes, IDs and passports are eligible to open a time deposit account with Bank of China, Singapore.

    4. What is the time deposit interest rate for a placement of up to SGD 19,999.99 for one year?

      The interest rate for a placement of up to SGD 19,999.99 for one year is 0.600000.

    5. I am 16 years old. Can I open a fixed deposit account in Bank of China?

      Yes. You can open a SGD time deposit account with Bank of China.

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