Product Name
BOC Business Smart
Product Introduction
BOC Business Smart is a bonus interest scheme on your Corporate Current Account when you maintain a minimum monthly average effective balance. Enjoy bonus interest when you maintain at least $500,000 monthly average effective balance on your BOC Corporate Current Account. Get additional bonus interest if you complete at least 5 successful online banking transactions within the same calendar month. The portion of the balance above $5,000,000 will not enjoy the Balance Bonus Interest.
Product Interest Rate
Monthly Average Effective Balance (SGD/USD) |
Bonus Interest(P.A%) |
| SGD |
USD |
Online Banking
Transaction |
| First $500,000 |
0.01% |
0.05% |
0.05% |
| Next $1,500,000 |
0.01% |
| Next $3,000,000 |
0.05% |
Product Interest Calculation
The example provided below is for illustrative purpose only:
The monthly average effective balance of a SGD Account in March is S$3,000,000.
Balance Bonus Interest: [(S$500,000*0.01%)*(31/365)]+[(S$1,500,000*0.01%) *(31/365)]+[(S$1,000,000*0.05%)*(31/365)]= S$59.45
10 online banking transactions have been done via BOC Online Banking in March and the account will earn Online Banking Transaction Bonus Interest of: [(S$3,000,000*0.05%)*(31/365)]= S$127.40
Total Bonus Interest earned for the month = S$59.45 + S$127.40 = S$186.85
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 is 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. Bonus Interest for a particular month will be calculated on a monthly basis and be credited within 15 business days in the following month.
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 eligible for BOC Business Smart. BOC will shortlist customers according to its internal standards without any prior notice.
6. 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.
Terms and Conditions
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.
