Bank of East Asia fixed deposit schemes enable you to maximise your savings by offering you higher interest rates than you would earn with regular savings accounts in return for not accessing your deposited amount for a fixed length of time. Bank of East Asia offers 2 types of time deposit accounts. They are - Singapore Dollar Fixed Deposits and Foreign Currency Fixed Deposits. The Singapore Dollar Fixed Deposits have flexible tenures that go up to 24 months, while the Foreign Currency Fixed Deposits offer tenures of up to 12 months. You can choose to invest in 11 major currencies, including SGD. The minimum initial placement amount required for both accounts is 10,000 units of the respective currency. Invest your additional funds in Bank of East Asia term deposits and maximise your returns with up to 2.6506% p.a. interest on your savings.
Bank of East Asia Fixed Deposit Interest Rates
All Bank of East Asia Singapore Dollar Fixed Deposit accounts offer tenures of up to 24 months. This table illustrates the SGD fixed deposit interest rates offered by the bank for deposits of S$1,000 to less than S$500,000:
| Tenure | Deposit Amount & Rate (%p.a.) | |||
|---|---|---|---|---|
| $1,000.00 - $49,999.99 | $50,000.00 - $99,999.99 | $100,000.00 - $249,999.99 | $250,000.00 - $499,999.99 | |
| 1-2 Months | 0.1250 | 0.2500 | 0.2500 | 0.2500 |
| 3-5 Months | 0.2500 | 0.3750 | 0.3750 | 0.3750 |
| 6-8 Months | 0.3750 | 0.5000 | 0.5000 | 0.5000 |
| 9-11 Months | 0.5000 | 0.6250 | 0.6250 | 0.6250 |
| 12 Months | 0.6250 | 0.7500 | 0.7500 | 0.7500 |
| 18-24 Months | 0.7500 | 0.8750 | 0.8750 | 0.8750 |
Note: Rates are only indicative and are accurate as of 23 January 2019.
Bank of East Asia Foreign Currency FD Interest Rates
Bank of East Asia offers 2 different kinds of interest rates: Tier Rates and Board Rates. Tier rates provide higher interest but require that you deposit a larger placement amount. The tenures for all interest rates offered for foreign currency time deposits range from 1 week to 6 months.
Foreign Currency FD Tier Rates
The table below illustrates the different tier rates available for fixed deposits in each of the 10 major foreign currencies:
| Currency | Minimum deposit amount | Interest rate (p.a.) |
| USD | 100,000 units | 2.0308% to 2.6506% |
| HKD | 500,000 units | 0.9629% to 2.2041% |
| AUD | 100,000 units | 1.49% to 2.15% |
| CAD | 100,000 units | 1.24% to 1.92% |
| NZD | 100,000 units | 1.57% to 2.12% |
| EUR | 100,000 units | 0.001% |
| JPY | 10 million units | 0.001% |
| CHF | 100,000 units | 0.001% |
| GBP | 50,000 units | 0.458% to 0.7761% |
| CNY | 500,000 units | 0.3% to 2.5% |
Note: Rates are only indicative and are correct as of 17 December 2018.
Foreign Currency FD Board Rates
The table below illustrates the different board rates available for fixed deposits in each of the 10 major foreign currencies:
| Currency | Minimum deposit amount | Interest rate (p.a.) |
| USD | USD20,000 or equivalent | 1.9058% to 2.5256% |
| HKD | USD20,000 or equivalent | 0.8379% to 2.0791% |
| AUD | USD20,000 or equivalent | 1.365% to 2.025% |
| CAD | USD20,000 or equivalent | 1.115% to 1.795% |
| NZD | USD20,000 or equivalent | 1.445% to 1.995% |
| EUR | USD20,000 or equivalent | 0.001% |
| JPY | USD20,000 or equivalent | 0.001% |
| CHF | USD20,000 or equivalent | 0.001% |
| GBP | USD20,000 or equivalent | 0.333% to 0.6511% |
| CNY | USD20,000 or equivalent | 0.25% to 2.2% |
Note: Rates are only indicative and are correct as of 17 December 2018.
Kindly contact the bank for more information on prevailing interest rates for foreign term deposit amounts greater than or equivalent to $500,000.
Features and Benefits of Bank of East Asia FD
- Automatic renewal of the time deposit account upon maturity.
- Flexible tenors ranging from 1 week to 24 months.
- Affordable minimum placement amount starting at S$10,000.
- Foreign currency term deposits available in 10 major foreign currencies.
Bank of East Asia FD Schemes
Singapore Dollar Fixed Deposit Account
This SGD time deposit account offers up to 0.875% p.a. interest for tenures that range from 1 month to 24 months. A minimum initial deposit amount of S$10,000 is required to open this account.
Foreign Currency Fixed Deposit Account
You can earn up to 2.6506% p.a. interest on foreign currency deposits with flexible tenures ranging from 1 week to a maximum of 12 months. A minimum initial placement amount of USD10,000, or its equivalent, is required to open an account. You can opt between 10 major foreign currencies with this Bank of East Asia deposit account. The foreign currencies that you may place your deposits in are: Australian Dollar (AUD), Chinese Renminbi (CNY), US Dollar (USD), Swiss Franc (CHF), Euro (EUR), Hong Kong Dollar (HKD), Japanese Yen (JPY), Canadian Dollar (CAD), New Zealand Dollar (NZD), and Sterling Pound (GBP). You may also potentially enjoy additional capital gains on top of prevailing time deposit account interest rates due to favourable movements in the foreign exchange market.
Eligibility Criteria to Open a Bank of East Asia FD Account
- Minimum age: 12 for all SGD fixed deposit accounts with Bank of East Asia.
- Minimum tenor: Starts from 1 week.
- Maximum tenor: Up to 24 months.
- Minimum placement amount: Starts at S$10,000.
Required Documents:
Kindly contact the bank directly for more details.
Other Deposit Accounts Offered by the Bank
Bank of East Asia offers a variety of savings and chequing accounts that you may benefit from.
Chequing accounts available with Bank of East Asia include:
- Singapore Dollar Current Account
- Foreign Currency Current Account
Savings accounts offered by Bank of East Asia include:
- Passbook Savings Account
