BOC SmartSaver (Earn Up To 7.00% p.a.)
BOC SmartSaver is a savings plan for BOC Singapore Multi-Currency Savings (MCS) account holders to earn bonus interest.
You can earn up to 7.00% p.a. interest rate on your first S$100,000 savings balance just by fulfilling any of the bonus interest categories.
It is best suited for high spenders (above $1,500) and high-income earners (above $6,000).
This account is a good fit for you if are able to you charge at least $1500 to your credit card regularly, have a salary above $6000, and are willing to purchase a wealth product from BOC.
Criteria For Bonus Interest
1. Wealth Bonus Interest: Purchase the eligible insurance products to meet the minimum amount to enjoy the wealth bonus interest at 2.40% p.a. for 12 consecutive months.
2. Card Spend Bonus Interest: Spend at least S$500 on your Debit or Credit Cards during the calendar month to get 0.50% p.a. or above S$1500 to get 0.80% p.a.
3. Salary Crediting Bonus Interest: Salary credit of S$2,000 to S$6,000 to get 1.900% p.a. or S$6,000 and above for 2.50% p.a.
4. Payment Bonus Interest: Pay 3 bills online (min S$30 per eligible bill payment) to get 0.90% p.a.
5. Extra Savings Interest: Enjoy 0.60% p.a. extra bonus interest when you fulfill any one of the requirements for Card Spend, Salary Crediting or Payment bonus interest, only applicable to your account balance above S$100,000 up to a maximum of S$1,000,000.
Bonus Interest Categories | Criteria | Bonus Interest Rate |
1. Wealth | Purchase eligible BOC wealth products to earn this bonus interest for 12 consecutive months | 2.40% p.a. |
2. Card Spend | Spend at least S$1,500 posted in a month by using BOC Cards | 0.80% p.a. |
2. Card Spend | Spend at least S$500 posted in a month by using BOC Cards | 0.50% p.a. |
3. Salary Crediting | Monthly salary crediting of $$6,000 and above | 2.50% p.a. |
3. Salary Crediting | Monthly salary crediting of $$2,000 to $$6,000 (exclusive) | 1.90% p.a. |
4. Payment | Perform at least 3 bill payments of at least S$30 each via GIRO or BOC Internet Banking/BOC Mobile Banking Bill Payment function | 0.90% p.a. |
5. Extra Savings | Fulfill at least one of the requirements for either Card Spend, Salary Crediting or Payment bonus interest | 0.60% p.a. |
How To Get a Maximum 7.00% p.a. Interest Rate For First S$100,000
When you fulfill these categories, you can get a total of 7.00% p.a. on your first S$100,000 in your BOC Multi-Currency Savings (MCS) account.
| Categories | Criteria | Interest Rate |
| Wealth Bonus Interest | Purchase eligible BOC wealth products to earn this bonus interest for 12 consecutive months | 2.40% p.a. |
| Card Spend Bonus Interest | Spend at least S$1,500 posted in a month by using BOC Cards | 0.80% p.a. |
| Salary Crediting Bonus Interest | Monthly salary crediting of $$6,000 and above | 2.50% p.a. |
| Payment Bonus Interest | Perform at least 3 bill payments of at least S$30 each via GIRO or BOC Internet Banking/BOC Mobile Banking Bill Payment function | 0.90% p.a. |
| Prevailing Interest Rate | Nil | 0.40% p.a. |
Get Up to 1.00% p.a. For Account Balance Above S$100,000 to S$1,000,000
If you have more than S$100,000 in your BOC Multi-Currency Savings (MCS) account, the remaining will earn up to 1.00% p.a.
For account balances that are above S$1,000,000, they earn the prevailing interest rate of 0.40% p.a.
Bonus Interest Categories | Criteria | Bonus Interest Rate |
Extra Savings Bonus Interest | Fulfill at least one of the requirements for either Card Spend, Salary Crediting or Payment bonus interest | 0.60% p.a. |
Prevailing Interest Rate | Nil | 0.40% p.a. |
How To Apply For BOC SmartSaver
- Click here to open the MCS account online using Myinfo
- Visit your nearest BOC branch with the necessary documents
To Note
Check out Bank of China (Singapore) for more information.