Introduction
BOC Business Smart Account is a combination of Corporate Current Account with online banking. Enjoy bonus interest when you maintain at least $500,000 monthly average effective balance on your BOC SGD/USD Corporate Current Account. Get additional bonus interest if you complete at least 5 successful online banking transactions within the same calendar month.
Enjoy bonus interest rates of up to 0.10% p.a. for SGD and 0.35% p.a. for USD, details as follows:
| Monthly Average Effective Balance (SGD/USD) |
Bonus Interest |
| Balance Bonus Interest |
Online Banking Transaction Bonus Interest rate |
| SGD Balance Bonus Interest rate |
USD Balance Bonus Interest rate |
| First 500,000 |
0.01% |
0.02% |
0.05% |
| Next 1,500,000 |
0.01% |
0.10% |
0.05% |
| Next 3,000,000 |
0.05% |
0.30% |
0.05% |
Bonus Interest Details
How to earn Balance Bonus Interest?
- Maintain at least $500,000 monthly average effective balance in your BOC Business Smart Account for the calendar month. The higher the balance you maintain in the account, the higher the Balance Bonus Interest. The portion of the balance above $5,000,000 will not enjoy the Balance Bonus Interest.
How to earn Online Banking Transaction Bonus Interest?
- Maintain at least $500,000 monthly average effective balance in your BOC Business Smart Account and complete at least 5 successful transactions via the BOC Online Banking platform, in a calendar month. The portion of the balance above $5,000,000 will not enjoy the Online Banking Transaction Bonus Interest.
Example of Bonus Interest calculation (provided for illustrative purposes only):
The monthly average effective balance of a USD Account in March is US$3,000,000.
- Balance Bonus Interest: [(US$500,000*0.02%)*(31/360)]+[(US$1,500,000*0.1%) *(31/360)]+[(US$1,000,000*0.3%)*(31/360)]= US$396.11
- 10 online banking transactions have been done via BOC Online Banking in March and the account will earn Online Banking Transaction Bonus Interest of: [(US$3,000,000*0.05%)*(31/360)]= US$129.17
- Total Bonus Interest earned for the month = US$396.11+US$129.17= US$525.28
Terms and Conditions
Important Notes
1. All interest rates shown above are on a per annum basis and applicable to SGD and USD current account. Rates shown are indicative only and are subject to change without any prior notice. Bank of China Limited, Singapore Branch ("BOC") reserves the right to extend, revise or withdraw the Bonus Interest, and are entitled to vary, delete or amend any applicable terms and conditions at its discretion in whole or part without prior notice or assigning any reason.
2. Bonus Interest will be calculated based on the account's monthly average effective balance and applicable Bonus Interest rate with the actual number of days in the particular month. Earmarked balance, overdraft and cheque float amount are not considered as effective balance. Monthly average effective balance is calculated on a monthly basis as the summation of each day-end effective balance in a month divided by the actual number of calendar days in that month.
3. If the current account enjoys any other promotion or preferential interest rates, the account will not enjoy any BOC Business Smart Bonus Interest.
4. Accounts of Finance Institutions and associations and earmarked accounts will not enjoy the Bonus Interest.
5. The current account must be valid, existing, in good standing, and conducted in a proper and satisfactory manner at all times and approved by BOC to be a BOC Business Smart Account BOC will shortlist customers according to its internal standards without any prior notice.
6. Bonus Interest for a particular month will be calculated on a monthly basis and be credited within 15 business days in the following month.
7. In the event of any discrepancy or inconsistency between the English version and the Chinese version (if any) of these terms and conditions, the English version shall prevail.
Deposit Insurance Scheme: Singapore dollar deposits of non-bank depositors are insured by the Singapore Deposit Insurance Corporation, for up to S$100,000 in aggregate per depositor per Scheme member by law. Foreign currency deposits, dual currency investments, structured deposits and other investment products are not insured. Please visit www.sdic.org.sg for full details.
