1.This promotion is referred to as the BOC Mortgage Customer Referral Programme 2025 (this “Promotion”). The promotion will commence on 01 May 2025 and will continue until all Rebates have been fully redeemed, or such other period as may be determined by Bank of China Limited, Singapore Branch (“BOC”) at its discretion.
2.This Promotion is open to existing customers (“Referrer”) of BOC who shall be required to satisfy the following eligibility requirements to participate in this Promotion:
(i)The Referrer introduces a new loan customer (“Referee”) to apply for a grant of credit facilities of at least S$500,000 for either:
a.the new purchase of; or
b.the refinancing of a credit facility for the purchase of,
a completed residential property and/or commercial property in Singapore, which has been issued a Temporary Occupation Permit and/or a Certificate of Statutory Completion by the Singapore Building and Construction Authority (excluding building-under-construction loan, term loan, repricing of existing property loan and staff housing loan) ("New Property Loan");
(ii)The Referee submits such application in his/her personal name in relation to sub-paragraph (i) above directly to BOC through a referral by the Referrer, and the Referee indicates the Referrer’s name (as referral) in the said application form;
(iii)The Bank issues a letter of offer to the Referee for a New Property Loan (“Letter of Offer”) and the Referee accepts such Letter of Offer in his/her personal name within the stipulated deadline;
(iv)Loans referred by BOC’s agents or brokers are not applicable;
(v)The Referee is not an employee of BOC; and
(vi)The Referee has not taken up any types of mortgage loan with BOC before.
Please note that “existing customers” shall include employees of BOC, save for all staff of BOC’s Main Branch and sub-branches, including but not limited to branch managers, customer service managers (“CSM”), CSM sales, branch operational staff and personal banking relationship managers.
The Referrer who satisfies all of the above eligibility requirements shall be referred to as an “Eligible Customer”.
3.Prior to making any referral to BOC, the Referrer must:
(i)inform the Referee(s) of this Promotion and that the Referrer will or may be eligible to receive the Rebate (as defined below) if the terms and conditions of this Promotion are satisfied; and
(ii)inform, and obtain the consent of, the Referee(s) that the status of his/her loan application submitted pursuant to this Promotion [and/or [ ]] may be disclosed by BOC to the Referrer for purposes of BOC addressing any enquiry from the Referrer relating to the award of the Rebate.
4.Subject to these Terms and Conditions (as defined below), an Eligible Customer will qualify to receive a cash rebate (“Rebate”) based on the quantum of the New Property Loan, as set out in the table below:
Quantum of New Property Loan
(as reflected in the Letter of Offer) |
Value of Rebate |
| S$500,000 to less than S$1,000,000 |
$300.00 |
| S$1,000,000 to less than S$1,500,000 |
$500.00 |
| S$1,500,000 and above |
$1,000.00 |
The award of the Rebate shall be subject to the additional conditions set out below:-
(i)Only a one-time rebate will be given per New Property Loan.
(ii)If there is more than one Eligible Customer who qualify under the same New Property Loan, only the first Eligible Customer who refers the Referee to BOC shall be eligible for the Rebate.
5.All New Property Loans will be subject to the terms and conditions set out in the Letter of Offer and BOC’s Standard Terms and Conditions Governing Facilities Secured by Mortgage of Residential Property and/or Commercial Property (as may be amended, modified or supplemented from time to time by BOC) to be entered into between the Referee and BOC.
6.The availability of the Rebate is on a while-stocks-last basis. An Eligible Customer will receive the Rebate within one (1) month from the acceptance date of the Letter of Offer by the Referee.
7.The Rebate will be credited to a BOC Current or Savings Account only. If the Eligible Customer does not have a BOC Current or Savings Account, they are required to open one, otherwise, BOC will consider it as an automatic forfeiture of the Rebate.
8.All BOC Current or Savings account(s) of the Eligible Customer must not be suspended, cancelled or terminated for any reason, and should be in good standing and conducted in a proper and satisfactory manner as determined by BOC in its sole discretion. In the event that any such BOC Current or Savings account is delinquent, terminated or suspended for any reason, BOC reserves the right to forfeit the Rebate at its sole discretion.
9.The Rebate awarded shall not be transferable and is strictly not exchangeable for cash, credit, cashier’s orders, reward points or other things or benefits, whether in whole or in part.
10.BOC reserves the right to substitute or replace the Rebate with an item of equal or similar value (to be determined by BOC in its sole discretion) at any time without prior notice and without assigning any reason.
11.Unless otherwise stated, this Promotion (including the Rebate) may not be used in conjunction with other promotions, discounts, privileges or offers, and cannot be combined or repeated with any such existing promotions, discounts, privileges or offers.
12.BOC's decision on all matters relating to this Promotion, including on whether a customer is an Eligible Customer within the meaning of these Terms and Conditions is final, conclusive and binding. No correspondence and claim will be entertained. In the event of any inconsistency between these terms and conditions and any brochure, marketing or promotional materials relating to this Promotion, these terms and conditions will prevail to the extent of such inconsistency.
13.BOC shall not be liable to any Referrer, any Eligible Customer, any Referee or any third party for any claim, expense, loss or damage (direct or indirect) arising out of or in connection with this Promotion, including without limitation, any claim, expense, loss or damage incurred or sustained by reason of any delay or failure to receive the Rebate.
14.BOC reserves the right to claw back the full amount of the Rebate from the Eligible Customer where:
(i)BOC subsequently discovers that such Eligible Customer has failed to meet any of the eligibility conditions under this Promotion;
(ii)where BOC has paid or will be required to pay any fees to any agent or third party in connection with the New Property Loan;
(iii)the New Property Loan is cancelled or the Letter of Offer is revoked prior to first disbursement; or
(iv)the New Property Loan is redeemed by the Referee within twelve months of its date of first disbursement.
15.BOC reserves the right to vary, delete or add to any of the terms and conditions of this Promotion (including those set out herein and in the Facebook and WeChat channel, as applicable, collective, these “Terms and Conditions”), and to suspend or terminate this Promotion at any time without prior notice or liability to any party. In such event, BOC shall not be held responsible notwithstanding that the Eligible Customer may have fulfilled one or more conditions of this Promotion or that the Eligible Customer is entitled to receive or has received the Rebate.
16.All participants in this Promotion irrevocably consent and authorise BOC and its agents and vendors (including but not limited to the parties involved in organising, promoting and conducting the promotion and/ or redemption) to collect, use and disclose their personal data to any person (including the Referee(s)) for the purpose of this Promotion, and confirm that they have read and agree to be bound by the terms of BOC’s Personal Data Protection Policy, as may be amended, supplemented and/or substituted by BOC from time to time, a copy of which can be found on http://www.bankofchina.com/sg/aboutus/.
17.By participating in this Promotion, each participant shall be deemed to have read, understood and accepted these Terms and Conditions.
18.A person who is not a party to these Terms and Conditions has no right under the Contracts (Rights of Third Parties) Act 2001 to enforce any of these Terms and Conditions.
19.These Terms and Conditions shall be governed by the laws of Singapore and each participant of this Promotion irrevocably submits to the non-exclusive jurisdiction of the Singapore courts.
20.All information is correct at the time of publication.
