Can Bank of China time deposit rate in May 2025 beat the other Singapore Banks? With 1 main branch and 11 sub-branches, Bank of China has expanded its network throughout Singapore. My colleague used to put his money with Bank of China time deposit because this uncommon bank offers higher rate than other Singapore banks such as DBS, OCBC and UOB. Is Bank of China time deposit rate still higher than other banks in May 2025? Let me take a look further below.
Recently, Fixed deposit interest rates in Singapore had seen a decline, with many banks lowering their rates, including UOB, OCBC, and CIMB. At various forums, fellow financial bloggers had also shared with me that the return rates for SGS T Bills is going to fall below 2%. Digital banks such as GSX digital bank also announced they are cutting interest rates at the end of May.
The recent decline in interest rates across fixed deposits are attributed to a combination of factors, including easing inflation, slowing economic growth, and a cautious approach from banks in response to global uncertainty.
Do you know what are fixed deposits? Fixed deposits are sometimes also termed as time deposits. Fixed deposits or time deposits are a type of investment offered by banks and financial institutions where an individual deposits a sum of money for a fixed period of time at a pre-determined interest rate. The money is locked in for the specified period, which can range from a few months to several years.
Fixed deposits are considered a safe investment option as they offer guaranteed returns and are not subject to market fluctuations. The interest earned on a fixed deposit is usually higher than that earned on a regular savings account, making it an attractive choice for individuals looking to grow their savings in a secure manner.
Are you curious what is Bank of China Time Deposit interest rates? Let us take a look below.
Bank of China Time Deposit Rate in May 2025
Tenure: 1 month, 2 months or 6 months
Interest Rate: 2.05% p.a. (Over the counter) / 2.20% p.a. (via Mobile Banking)
Minimum Amount: S$10,000 and above (Over the Counter) / S$500 and above (via Mobile Banking)
Tenure: 3 months, 4 months or 5 months
Interest Rate: 2.10% p.a. (Over the counter) / 2.25% p.a. (via Mobile Banking)
Minimum Amount: S$10,000 and above (Over the Counter) / S$500 and above (via Mobile Banking)
Tenure: 9 months or 12 months
Interest Rate: 2.00% p.a. (Over the counter) / 2.15% p.a. (via Mobile Banking)
Minimum Amount: S$10,000 and above (Over the Counter) / S$500 and above (via Mobile Banking)
Tenure: 18 months
Interest Rate: 1.90% p.a. (Over the counter) / 2.05% p.a. (via Mobile Banking)
Minimum Amount: S$10,000 and above (Over the Counter) / S$500 and above (via Mobile Banking)
Tenure: 24 months
Interest Rate: 1.75% p.a. (Over the counter) / 1.90% p.a. (via Mobile Banking)
Minimum Amount: S$10,000 and above (Over the Counter) / S$500 and above (via Mobile Banking)
The rates can be found at Bank of China’s information page.
Bank of China is a member of Singapore Deposit Insurance Scheme
If you are worried, Bank of China is a member of Singapore Deposit Insurance Scheme since 31st October 2022. It means your savings with Bank of China is protected by the Singapore 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. For more information, please visit www.sdic.org.sg.
Bank of China Time Deposit Rates versus Singapore Savings Bond (SBJUN25)
The effective interest rate for SSB GX25060V is 2.56% if you held it for 10 years. If you sell SBJUN25 after 1 year, the return is 2.20% per annum. For a 12-month time deposit via mobile banking, Bank of China Singapore Fixed Deposit is giving you 2.15% per annum. I will choose to put my money in Singapore Savings Bonds (SBJUN25) given that the return is higher at 2.20% per annum.
Below is the interest per year for SSB SBJUN25 GX25060V.
| Year from issue date | Interest % | Average return per year %* |
| 1 | 2.20 | 2.20 |
| 2 | 2.20 | 2.20 |
| 3 | 2.20 | 2.20 |
| 4 | 2.40 | 2.25 |
| 5 | 2.53 | 2.30 |
| 6 | 2.59 | 2.35 |
| 7 | 2.74 | 2.40 |
| 8 | 2.88 | 2.45 |
| 9 | 3.01 | 2.51 |
| 10 | 3.12 | 2.56 |
*At the end of each year, on a compounded basis.
Bank of China Time Deposit Rates versus Singapore T Bills
The cut off yield for Singapore T Bill BS25110H 6-Month T-bill is 2.20% per annum. Singapore Treasury Bills are short-term debt instruments issued by the Singapore government to raise funds for its financing needs. These bills are typically sold at a discount from their face value and mature in 3, 6, or 12 months. They are considered a safe investment as they are backed by the Singapore government’s creditworthiness.
As you can see, the return from BS25110H 6-Month T-bill offers the same return as Bank of China Singapore 6-month time deposit via mobile at 2.20% per annum.
Bank of China Singapore Fixed Deposit Rates versus Other Singapore Banks
The best fixed deposit rates in May 2025 are offered by DBS Singapore and MayBank2U. DBS Singapore offer a fixed deposit interest rate at 2.45% per annum for a 12-months tenure. If you are looking for a shorter tenure, MayBank2U offered 2.45% per annum for 6-months. Take a look at Best fixed deposit rates in May 2025.
In my opinion, the interest rates offered by Bank of China Singapore Fixed Deposit is also competitive. Not many banks can still offer 2.20% per annum for a 6-month time deposit placement. The 3, 4 or 5-month time deposit placement via mobile is the most attractive at 2.25% per annum.
Another attractive point I noticed about Bank of China Singapore Fixed Deposit is the minimum amount of S$500 to do a time deposit placement via mobile. The low minimum amount can be attractive for young adults who just started work.
Personally, I am keeping my money in the UOB Stash Savings Account where the estimated interest rate is around 2.20% to 2.30% per annum. Where is the best place to park your money? If you have 100K, please look at my review on UOB Stash Savings Account.
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