Bank of China SmartSaver Savings Plan

 

Bank of China Logo

Min. Deposit
$1,500

Interest Rate
up to 3.55%

Review on Bank of China SmartSaver Savings Plan

Pros
Realistically high interest rate
High 0.40% p.a. base interest
Extra 0.60% p.a. savings bonus interest for monthly balance above $60k

Cons
Must open a BOC Multi-Currency Savings account
Bonus interest rates subjected to credit salary, pay bills and BOC Credit Cards spend
High minimum spend of $1,500 on credit card for 1.60% p.a. bonus interest
High minimum spend of $6,000 salary credit for 1.20% p.a. bonus interest

 

sponsored links

Details

Prevailing Interest
Below $5k 0.25% p.a.
$5k to <$20k 0.275% p.a.
$20k to <$50k 0.35% p.a.
$50k & above 0.40% p.a.

Bank of China SmartSaver Savings Plan is for Bank of China Multi-Currency Savings (MCS) account holders to earn bonus interests on top of prevailing interests when you fulfill the required criteria

The total interest rate includes prevailing and bonus interest

The prevailing interest is accrued daily and will be credited to your Bank of China Multi-Currency Savings Account (SGD) on monthly basis

 

Interest Computation

Interest
Prevailing Interest 0.40% p.a.
Credit Cards Spend 1.60% p.a.
Credit Salary 1.20% p.a.
Pay 3 Bills 0.35% p.a.
Total (Max. $60k) 3.55% p.a.

Earn 0.80% / 1.60% p.a. when you spend at least $500 / $1,500 across your Bank of China Credit Cards and/or Debit Cards

Earn 0.80% / 1.20% p.a. when your company credits your salary of at least $2,000 / $6,000 into your Bank of China Multi-Currency Savings Account

Earn 0.35% p.a. when you transact 3 bill payments (min. $30 each) via GIRO, BOC Online Banking or BOC Mobile Banking bill payment function from your Bank of China Multi-Currency Savings Account

Enjoy up to 3.55% p.a. with Bank of China SmartSaver Savings Plan on the first $60,000 of your account balance

Earn 0.60% p.a. extra savings bonus interest on your account balance above $60,000 up to $1,000,000 when you meet at least one of the first three bonus interest requirements (Card Spend, SalaryCrediting or Payment)

A minimum balance of $1,500 in your Bank of China Multi-Currency Savings Account is required to be eligible for the bonus interest rates

Bonus interests are calculated based on your Bank of China Multi-Currency Savings Account's Average Effective Balance for the month

 

Click here to go to Bank of China website for more details

 

Add Review or Comment

* Required information
1000
Captcha Image

Reviews or Comments (2)

Ave. Rating:
3/5 (2)
Topic: Bank of China SmartSaver Savings Plan Review
Sort By
 
Gravatar
New
ng hiam siang
Gravatar
2
0
0
Nov 2017
ng hiam siang says...

saving $100.00 how much the interest for year.

Gravatar
Regular
Money Lobang
Gravatar
42
11
0
Sep 2014
Top Poster
Most Likes
Money Lobang says...

The minimum deposit is $1,500. Assuming a deposit of $10,000 and fulfillment of the various criteria one can receive 3.425% interest or ($10,000 * 1/12 * 0.03425) = $28.54 a month

Gravatar
New
SYang Teo
Gravatar
1
2
0
Nov 2016
First Poster
SYang Teo says...

The interest rates are changing to be less attractive in Dec.

 

 

Featured Cards

Citi Cash Back Card

Citi Cash Back Card Enjoy up to 8% cashback on groceries and dining and 24.32% savings on petrol. Apply and receive up to $120 cashback.

Standard Chartered Manhattan Card

Standard Chartered MANHATTAN World MasterCard Enjoy up to 3% cashback on all spending and up to 23.1% savings on petrol. Apply and receive up to $138 cash credit



sponsored links

Search & Social Media

money lobang facebook page money lobang twtter page money lobang instagram page money lobang youtube page money lobang pinterest page money lobang linkedin page

Subscribe to our Newsletter

Be the first to know about the latest promotions for bank deposits, credit cards and online discounts.


Recommended Review

Best Savings Account Interest Rates Promotion in Singapore

Best Savings Account or Current Account in SingaporeThere are several current and savings accounts in Singapore that offer a higher interest rate...


Discount Codes

Expedia Singapore Promo Discount Codes

Singapore Credit Cards Promotion Expedia Promo Discount CodesTake up to 50% off for travel packages and hotels + 15% off with our exclusive Expedia discount codes


All About Money

What is the Best Highest Deposit Interest Rate in Singapore

What is the Best Highest Interest Rate in SingaporeSingapore deposits earn very low interest from banks and it has been consistently lower than 2.00% per annum...