Bank of China SGD Savings Account is a SGD passbook savings account, which offers a high rate of interest on the amount customers save in it.
Features and Benefits of Bank of China SGD Savings Account:
- Customers of Bank of China SGD Savings Account can withdraw money from their account at any time they want.
- Customers can choose to open a single account or a joint account.
- Customers can open this account with an initial deposit of S$1,000.
- Account holders can access their account via the internet banking and phone banking services of the bank. They can also access their account using an ATM card.
- Account holders can make telegraphic transfers to China, both Inward as well as Outward.
Deposit Insurance Scheme:
The SDIC (Singapore Deposit Insurance Corporation) insures the SGD Deposits of non-bank depositors, for up to an aggregate of S$50,000 per depositor for each Scheme member.
- Singapore Citizens/Permanent Residents/Foreigners who have an employment pass, student pass or work permit along with Passport and valid ID card are eligible to apply for Bank of China SGD Savings Account.
- Applicants must be 15 years old and above at the time of application.
- Singapore Citizens and Permanent Residents have to display their NRIC at the time of application.
- Foreigners have to display their pass, travel documents and address proof at the time of application.
|SGD Savings Account Interest Rate|
|Less than S$5,000||0.25% p.a.|
|S$5,000 and more||0.275% p.a.|
|S$20,000 and more||0.35% p.a.|
|S$50,000 and more||0.4% p.a.|
|S$100,000 and more||0.475% p.a.|
The above mentioned rates are indicative and can be changed by the bank.
Fees and Charges:
|Service Charge (It has to be paid only if the monthly average balance is less than S$2,000)||S$2|
|Fee for Early Account Closure (It has to be paid only if the account is closed within a period of 6 months from the date of opening)||S$30|
The above mentioned fees and charges can be changed by the bank at any time.
How to Apply?
The application process of Bank of China SGD Savings Account is very simple. To apply, you have to visit any branch of the bank along with the required documents.