Bank of China Fixed Deposit Rate Singapore (2026)
Latest BOC fixed deposit rates, tenure options, and how they compare to other banks in Singapore.
Bank of China (BOC) Singapore offers fixed deposit rates of up to 2.90% p.a. for 12-month tenures with deposits of $100,000 or more, as at July 2026. For smaller deposits of $20,000, the 12-month rate sits at 2.80% p.a. — competitive with the big three local banks (DBS, OCBC, UOB) and slightly below finance companies like Hong Leong Finance. BOC is a solid option if you want higher-than-average FD rates from a well-established bank.
Not financial advice. All figures are for educational reference only. Data as at July 2026 unless noted. Rates are subject to change without notice.
- BOC Singapore FD rates range from 2.10% (1-month) to 2.90% (12-month, $100k+) — competitive vs local banks
- The 12-month sweet spot gives the best rate-to-lockup ratio; shorter tenures under 6 months pay significantly less
- Consider pairing BOC FDs with high-yield savings accounts for better overall liquidity
Table of Contents
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BOC Fixed Deposit Rates at a Glance
Bank of China is one of the largest banks in the world by total assets. In Singapore, BOC operates as a full-service bank licensed by the Monetary Authority of Singapore (MAS). It’s not a local bank like DBS or OCBC, but it’s been operating in Singapore since 1936 — so it’s far from a newcomer.
BOC’s fixed deposits are denominated in SGD and are covered under the Singapore Deposit Insurance Corporation (SDIC) scheme for up to $100,000 per depositor. This is the same government-backed protection that covers deposits at DBS, OCBC, and UOB.
Here’s a quick snapshot of BOC’s current fixed deposit rates for the most popular tenures:
| Tenure | Rate ($20,000 min) | Rate ($100,000+) |
|---|---|---|
| 3 Months | 2.40% p.a. | 2.50% p.a. |
| 6 Months | 2.60% p.a. | 2.70% p.a. |
| 12 Months | 2.80% p.a. | 2.90% p.a. |
| 24 Months | 2.55% p.a. | 2.65% p.a. |
Source: Bank of China Singapore website, July 2026. Rates subject to change.
Notice that the 12-month tenure offers the best rate across all deposit sizes. Rates actually drop for longer tenures like 18 and 24 months — this is common in the current rate environment where banks expect interest rates to gradually decline.
BOC FD Rates by Tenure and Deposit Size
BOC’s FD rates are tiered by both tenure and deposit amount. Larger deposits earn higher rates. Here’s the full breakdown:
| Tenure | $5,000–$19,999 | $20,000–$49,999 | $50,000–$99,999 | $100,000+ |
|---|---|---|---|---|
| 1 Month | 2.10% | 2.15% | 2.20% | 2.25% |
| 3 Months | 2.30% | 2.40% | 2.45% | 2.50% |
| 6 Months | 2.50% | 2.60% | 2.65% | 2.70% |
| 9 Months | 2.60% | 2.70% | 2.75% | 2.80% |
| 12 Months | 2.65% | 2.80% | 2.85% | 2.90% |
| 18 Months | 2.55% | 2.65% | 2.70% | 2.75% |
| 24 Months | 2.45% | 2.55% | 2.60% | 2.65% |
Source: Bank of China Singapore website, July 2026. Rates are indicative and may change without prior notice.
For a practical example: if you place $50,000 in a 12-month BOC FD at 2.85% p.a., you’ll earn approximately $1,425 in interest over the year. That’s $118.75 per month in guaranteed, risk-free income. Compare that to leaving the same amount in a regular savings account at 0.05% — you’d earn just $25 for the entire year.
The minimum deposit for BOC’s FD is $5,000, which is standard across most banks in Singapore. There’s no maximum limit, and larger deposits above $100,000 can often be negotiated for even better rates — just speak to a BOC relationship manager.
BOC vs Other Banks: Fixed Deposit Rate Comparison
How does BOC stack up against the competition? Here’s a head-to-head comparison of 12-month FD rates across major banks and finance companies in Singapore, based on a $20,000 minimum placement:
| Bank / Institution | 12-Month Rate | Min Deposit | SDIC Insured? |
|---|---|---|---|
| Hong Leong Finance | 2.90% | $20,000 | Yes (up to $100k) |
| Bank of China | 2.80% | $20,000 | Yes (up to $100k) |
| RHB | 2.70% | $20,000 | Yes (up to $100k) |
| CIMB | 2.65% | $10,000 | Yes (up to $100k) |
| OCBC | 2.60% | $20,000 | Yes (up to $100k) |
| UOB | 2.55% | $20,000 | Yes (up to $100k) |
| DBS | 2.50% | $10,000 | Yes (up to $100k) |
Source: Respective bank websites, July 2026. Rates for 12-month tenure. Subject to change without notice.
BOC sits in the upper tier — beating all three local banks (DBS, OCBC, UOB) on the 12-month rate. Hong Leong Finance edges ahead at 2.90%, but as a finance company (not a bank), some depositors prefer the perceived safety of a full bank like BOC. That said, both are equally covered under the SDIC scheme up to $100,000.
If you’re comparing fixed deposits with other safe instruments, Singapore T-bills currently yield around 2.5–3.0%, and Singapore Savings Bonds offer similar returns with more flexibility. For a detailed comparison of where to park your cash safely, check out our T-bills guide.
How to Open a BOC Fixed Deposit in Singapore
Opening a fixed deposit with BOC is straightforward. Here’s the step-by-step process:
Step 1: Open a BOC Savings Account
You need a BOC savings or current account first. Visit any BOC Singapore branch with your NRIC (for citizens/PRs) or passport and employment pass (for foreigners). You can also apply online through BOC’s internet banking portal.
Step 2: Fund Your Account
Transfer the amount you want to place as a fixed deposit into your BOC savings account. You can use FAST transfer from any other Singapore bank — it’s free and instant.
Step 3: Place the Fixed Deposit
Log into BOC internet banking, navigate to “Fixed Deposit” → “Place New FD”, select your tenure and amount, and confirm. The minimum is $5,000 for online placements. You can also place FDs at any branch or by calling their hotline.
Step 4: Maturity Options
Before the FD matures, decide whether to auto-renew (at the prevailing rate) or withdraw to your savings account. BOC will typically send you a reminder before maturity.
The process takes about 15 minutes online if you already have a BOC account. If you’re opening a new account, budget about 30–45 minutes at the branch.
Pros and Cons of BOC Fixed Deposits
Pros:
BOC offers competitive rates that beat the big three local banks. Your deposits are fully covered by SDIC up to $100,000, providing the same government-backed safety as DBS or OCBC. BOC also has a decent branch network across Singapore — not as extensive as DBS, but sufficient for most needs. The 12-month rate of 2.80% (at $20k) is particularly attractive for medium-term savers.
Cons:
BOC’s digital banking experience isn’t as polished as DBS or OCBC. The internet banking interface feels dated compared to local banks. Branch queues can be longer, especially at popular locations like Chinatown. Early withdrawal penalties apply — you’ll forfeit part or all of your interest if you break the FD before maturity. Finally, rates can change at any time for new placements, so the rate you see today may not be available tomorrow.
For higher returns with more liquidity, consider pairing your FD with a high-yield savings account from moomoo Singapore or a robo-advisor like Syfe for your investment portion.
Fixed Deposit Strategies to Maximise Returns
FD Laddering
Instead of locking all your money into one 12-month FD, split it across multiple tenures. For example, place $20,000 each in 3-month, 6-month, 9-month, and 12-month FDs. As each one matures, renew it at the best available rate. This gives you regular access to portions of your cash while still earning competitive rates.
Multi-Bank Strategy
Spread your deposits across BOC, Hong Leong Finance, and one local bank. This maximises your SDIC coverage ($100,000 per institution) and lets you cherry-pick the best rate from each bank. For amounts above $100,000, diversifying across institutions isn’t just smart — it’s essential for full insurance coverage.
Combine FDs with SSBs and T-Bills
Fixed deposits, Singapore Savings Bonds, and T-bills all serve the “safe money” bucket of your portfolio. SSBs offer more flexibility (redeemable monthly), T-bills are shorter-term (6 months to 1 year), and FDs lock in a guaranteed rate. Use all three to build a diversified, low-risk cash management strategy.
For your investment portion beyond safe cash, consider a retirement planning calculator to determine how much should go into higher-growth assets like ETFs or REITs.
Not financial advice. Fixed deposit rates are indicative and subject to change. Always verify the latest rates directly with Bank of China Singapore before placing a deposit.
Frequently Asked Questions
What is Bank of China's fixed deposit rate in Singapore right now?
As at July 2026, Bank of China Singapore offers fixed deposit rates ranging from 2.10% p.a. (1-month tenure, $5,000 minimum) to 2.90% p.a. (12-month tenure, $100,000+ deposit). For a standard $20,000 placement at 12 months, the rate is 2.80% p.a. Rates are subject to change without notice, so always verify with BOC directly before placing a deposit.
Is Bank of China safe for fixed deposits in Singapore?
Yes. Bank of China Singapore is a full-service bank licensed and regulated by the Monetary Authority of Singapore (MAS). Deposits are covered by the Singapore Deposit Insurance Corporation (SDIC) scheme for up to $100,000 per depositor. This is the same government-backed protection that covers DBS, OCBC, and UOB deposits. BOC has been operating in Singapore since 1936.
What is the minimum deposit for BOC fixed deposit?
The minimum deposit for a Bank of China fixed deposit in Singapore is $5,000. However, you’ll earn higher rates with larger deposits — the rate tiers start at $5,000, $20,000, $50,000, and $100,000. For the most competitive rates, a minimum of $20,000 is recommended as the rate jump from $5,000 to $20,000 is the most significant.
Can I withdraw my BOC fixed deposit early?
Yes, you can request early withdrawal of your BOC fixed deposit, but you’ll face an early withdrawal penalty. Typically, you forfeit some or all of the interest earned. The exact penalty depends on the tenure and how early you withdraw. If you might need the funds before maturity, consider shorter tenures or an FD laddering strategy where you stagger deposits across multiple maturity dates.
How does BOC fixed deposit rate compare to DBS and OCBC?
BOC’s 12-month rate of 2.80% (at $20,000) beats both DBS (2.50%) and OCBC (2.60%) as at July 2026. UOB sits at 2.55%. Among full-service banks, BOC is one of the most competitive for fixed deposits. Only finance companies like Hong Leong Finance (2.90%) consistently offer slightly higher rates. All institutions are SDIC-insured up to $100,000.
Should I put all my savings in Bank of China fixed deposit?
No. While BOC FDs are safe and offer decent returns, you should keep an emergency fund in a liquid savings account first (3–6 months of expenses). Only lock up money you won’t need for the tenure period. Also, diversify across institutions — the SDIC only covers $100,000 per bank. Consider combining FDs with Singapore Savings Bonds, T-bills, and investment products for a balanced approach to managing your cash and growing your wealth over time.
Do foreigners need a special account to open BOC fixed deposit in Singapore?
Foreigners can open a BOC fixed deposit in Singapore, but you’ll need to visit a branch in person with your passport, valid employment pass or work permit, and proof of address. The process is similar to opening any bank account as a non-resident. Some tenures or promotional rates may be restricted to Singapore citizens and PRs only — check with BOC directly for the latest eligibility criteria.
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