BOC SmartSaver: up to 1.60% p.a. on S$100,000

Last Updated: 2nd December 2025

Bank of China isn’t exactly a small or new bank, but it is certainly less prominent than the big local names we are accustomed to. That said, its flagship bank account, BOC SmartSaver, occasionally stands out as one of the better options compared to offerings from the big local banks.

Since its recent nerf, however, it is now one of the less competitive accounts with a maximum rate of just 1.60% p.a. possible without buying insurance products.

Interest Tiers

Typical of most high-interest savings accounts offered by banks, you have to unlock bonus interest based on common banking activities like card spend, salary crediting etc.

The rates below reflect the latest nerf that took effect from November 2025.

Category	New Interest Rate (p.a.) From 1st August 2025	New Interest Rate (p.a.) From 1st November 2025
Card Spend Credit or debit card	Spend S$750: 0.75% p.a. Spend S$2,500: 1.25% p.a.	Spend S$750: 0.60% p.a. Spend S$2,500: 0.90% p.a.
Salary Crediting	0.80% p.a. (S$2,000 required)	0.50% p.a. (S$3,000 required)
Payment 3 bill payments of at least S$30 each	0.10% p.a.	0.10% p.a.
Prevailing Interest Rates	0.20% p.a. for any amount	0.10% p.a. for any amount
Maximum Interest on S$100,000	2.35% p.a.	1.60% p.a.

The maximum achievable rate for BOC SmartSaver is 1.60% p.a. on S$100,000 of balance from 1st November 2025 onwards. This is achieved by not only fulfilling all the different categories (except for buying a wealth product), but also meeting the higher S$2,500 spend requirement for Card Spend.

Bonus interest rates from the various categories apply only to the first S$100,000.

Card Spend – up to 0.90% p.a.

Monthly Spend Amount	Bonus Interest
At least S$750	0.60% p.a.
At least S$2,500	0.90% p.a.

Like its savings account, Bank of China’s credit cards aren’t the most well known, but it does have 2 more notable cards:

Card	Earn Rate	Monthly Min. Spend
BOC Elite Miles World Mastercard	1.4 miles per dollar	N/A
BOC Family Card	3% to 10% cashback	S$800

The bank does have other credit cards aside from these, but I will leave it to the Telegram community to discuss whether there are any other gems worth considering.

In my opinion, the cards are relatively lacklustre, although BOC Family Card does work with CardUp/ipaymy so it may be an option worth considering.

Salary Credit – 0.50% p.a.

According to the bank, only genuine employment salaries credited via GIRO are eligible for the salary crediting category. These need to have transaction descriptions of “IBG-SALA” or “SALA” reflected in the monthly statement within the calendar month are eligible.

From 1st November 2025 onwards, the salary crediting amount needs to be at least S$3,000 (up from the previous S$2,000) to qualify for bonus interest.

Bill payments – 0.10% p.a.

Performing 3 bill payments via GIRO or through Bank of China’s internet or mobile banking bill payment function gives additional 0.10% p.a. Each bill payment needs to be at least S$30.

Financial products – 3.00% p.a.

The bank is dangling additional 3.00% p.a. on top of the interest rates mentioned, and this is unlocked by buying eligible financial products with the bank. Eligible products include:

Insurance Product Type	Minimum Purchase amount
All Single Premium Insurance Plans (except Singlife Secure Saver, China Taiping i-Save)	S$150,000 equivalent Single Premium
All Regular Premium Insurance Plans with 5-year premium term (annual premium payment mode only)	S$24,000 equivalent annual premiums
All Regular Premium insurance Plans with 10-year premium term (annual premium payment mode only)	S$12,000 equivalent annual premiums

Banks tend to sell expensive insurance and investment plans, so the added interest you get often falls significantly short of the high cost you pay for their financial products (indirectly or otherwise). The extra interest is also applicable only for 12 months, while the products tend to be things that entail a long commitment period. I would tread with caution here.

Application

New customers can apply here, while existing customers of the bank can login to their banking account to apply for the account.

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Seth Wee was a licensed financial adviser representative from 2009 to 2025, with over 16 years of experience in Singapore’s financial advisory industry.

He started Sethisfy.com in 2019 to share practical insights on credit cards, banking products, and miles strategies, helping readers identify financial products that deliver the best value. Seth has been featured in CNA, Channel 8, Today, and a host of other publications. In 2025, he was also part of a panel at CPF’s Ready For Life festival.

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