Bank of China's time deposit products offer low minimum deposit amounts and a variety of term options, including lump-sum time deposits, call deposits, combined time/current deposits, installment time deposits, and lump-sum deposits with interest withdrawal by installments. The main products are described below:
For a lump-sum time deposit, the term is agreed upon at account opening, the principal is deposited in a single lump sum, and both principal and interest are withdrawn in one lump sum at maturity. For a lump-sum time deposit held for its full agreed term, interest is calculated at maturity based on the interest rate (either the listed rate or a preferential rate) applicable to the corresponding term on the deposit date. Interest is settled together with the principal and is not calculated in segments, even if interest rates are adjusted during the deposit period.
For a call deposit, the customer does not set a fixed term but must notify the bank in advance (i.e., place a call) before making a withdrawal, specifying the intended withdrawal date and amount, and conducting the withdrawal as agreed, in order to enjoy the call deposit interest rate.
For a combined time/current deposit, no fixed term is set at the time of deposit; withdrawals can be made at any time, and the interest rate varies according to the actual length of the deposit period. This product combines the higher yield of a time deposit with the flexibility of a current deposit, making fund management easier for customers.
The three products mentioned above can be opened in RMB as well as in overseas currencies, including Hong Kong dollars, US dollars, euros, British pounds, Swiss francs, Japanese yen, Canadian dollars, Australian dollars, and Singapore dollars. For details on product availability, cash/remittance types, and supported deposit terms, please consult local BOC branches.
Lump-sum time deposits, call deposits, and combined time/current deposits can be opened at BOC branch counters or through online channels such as the BOC mobile banking app and online banking. Additionally, lump-sum time deposits can also be purchased at BOC smart counters.
Please present valid personal identification documents when applying.
Please ensure that the accounts remain active and in good standing to avoid any disruption to deposit or withdrawal transactions.
For call deposits, failure to give prior notice or withdraw funds as agreed may affect the calculation and payment of interest.
Comprehensive Operating Companies
