• Bank of East Asia Singapore Dollar Fixed Deposit Account

    Bank of East Asia (BEA) provides its customers with a Singapore Dollar Fixed Deposit Account. This account allows you to earn higher rates of interest on your deposits, ranging up to 0.875% p.a. Moreover, you can choose from a wide range of tenures. Your Singapore Dollar FD will be automatically renewed upon maturity and the interest earned can be used to top the principal sum of the renewed deposit. Besides, the account is characterised by ease of application. You can either call the bank on the dedicated hotline or you could send an email.

    What Are the Features of This Account?

    The primary features and benefits of the BEA Singapore Dollar Fixed Deposit include:

    • You can choose from a wide range of terms: 1-12 months, 18 months, and 24 months.
    • You can enjoy competitive rates of interest from 0.125% to 0.875% p.a.
    • The account will be automatically renewed once the deposits mature. This could, however, be subject to change under bank’s discretion.
    • The interest you earn once your term deposits mature can be added to the principal amount of your renewed deposit. This will be either credited to your savings/current account or it will be paid to you with a cashier’s order in your name. The cashier’s order will be mailed to you free of any charge.

    What Interest Rates Are Offered

    The rates of interest applicable across various terms and deposit amounts are illustrated in the table below:

    Period of deposit Interest rate earned (p.a.)
    S$1,000 to less than S$50,000 S$50,000 to less than S$100,000 S$100,000 to less than S$250,000 S$250,000 to less than S$500,000
    1 month 0.125% 0.25% 0.25% 0.25%
    2 months 0.125% 0.25% 0.25% 0.25%
    3 months 0.25% 0.375% 0.375% 0.375%
    4 months 0.25% 0.375% 0.375% 0.375%
    5 months 0.25% 0.375% 0.375% 0.375%
    6 months 0.375% 0.5% 0.5% 0.5%
    7 months 0.375% 0.5% 0.5% 0.5%
    8 months 0.375% 0.5% 0.5% 0.5%
    9 months 0.5% 0.625% 0.625% 0.625%
    10 months 0.5% 0.625% 0.625% 0.625%
    11 months 0.5% 0.625% 0.625% 0.625%
    12 months 0.625% 0.75% 0.75% 0.75%
    18 months 0.75% 0.875% 0.875% 0.875%
    24 months 0.75% 0.875% 0.875% 0.875%

    *All rates are as on 30 June 2018.

    Who Is Eligible Open This Account?

    The following eligibility criteria are applicable:

    • You must be at least 12 years of age or above to qualify as an account holder.
    • You have to deposit at least S$10,000 if you’re applying for a period of one month and above.

    How to Apply for the Bank of East Asia Singapore Dollar Fixed Deposit

    You can apply for this term deposit account in one of the following ways:

    • Get in touch with BEA through the dedicated hotline and place an application request.
    • Contact the bank through the dedicated email address to enquire about the application process.

    FAQs

    Q. Will the fixed deposits be renewed at the prevailing rate of interest?

    A. Yes, your deposits with Bank of East Asia will be renewed at the prevailing rates of interest.

    Q. Will the term for my time deposit remain the same upon renewal?

    A. Yes, the tenure of your time deposit account will remain same upon renewal.

    Q. Can I deposit an amount of S$500,000 or above into the BEA Singapore Dollar Fixed Deposit account?

    A. Yes, you can deposit a sum of S$500,000 or above. Contact the bank for details the prevailing rate of interest.

    Q. What hotline number can I reach BEA in case I have any queries or want to apply for the Singapore Dollar Fixed Deposit account?

    A. In case you have any queries or you want to apply for this FD account, call +65 6602 7702.

    Q. Is there an email address I can contact the bank through for queries on this term deposit account?

    A. In case you have any queries or want to apply for the Singapore Dollar Fixed Deposit account via email, you can write to info@hkbea.com.sg.

    Q. Is Bank of East Asia a Scheme member under the Deposit Insurance Scheme in Singapore?

    A. Yes, the BEA is a Scheme member under the Deposit Insurance Scheme in Singapore. Your deposits up to S$50,000 will be protected from volatility.

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