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Best for High Earners and Spenders

Bank Of China Smart Saver

Up to 0.20% p.a.

Interest Rates


Min. Initial Deposit


Min. Avg Daily Balance

Multi-Currency Savings Account

Type of Account

On top of the prevailing interest rate of 0.20% p.a., you can also enjoy bonus interest rates on your BOC Smart Saver Savings account when you fulfill certain requirements. In fact, you can earn up to 3% on your first S$85,000 account balance. However, to earn the maximum bonus interest rates, you’ll need to fulfill the criteria for salary crediting, card spend, and other financial products.

All details

  • The prevailing base interest rate for the BOC savings account is 0.2% p.a.
  • The base interest rate is applied to the entire account balance.
  • Earn high bonus interest rates when you fulfill requirements for purchasing financial products, card spend, salary crediting, bills payment, and extra savings.
  • Earn up to 3% on your first S$80,000 account balance.
  • Earn up to 0.60% p.a. for an account balance over S$80,000
  • Average daily balance of S$1,500.
  • Minimal fees with only a S$3 fall-below fee


  • The prevailing base interest rate of 0.2% p.a. is higher than other savings accounts in the market.
  • Easy to unlock bonus interests, especially when you use the BOC Multi-Currency Savings Account as your primary bank account for transactions, such as bills payment and credit card spend.
  • Earn extra interest for large balances. You can earn up to 3% on your first S$85,000 and up to 0.60% p.a. for over S$85,000.
  • Have multiple categories for earning bonus interest rates
  • The fees are minimal.


  • To earn the maximum bonus interest rate of 0.50% for salary credit, you’ll need a credit salary of at least S$6,000 per month. This is high for an average earner.
  • You need to have a total credit card spend over S$1,500 every calendar month to earn 0.50% p.a. bonus interest.
  • Fall below fee of S$3 so you’ll need to maintain a minimum average daily balance of S$1,500.
  • Purchasing insurance or investment products from the Bank of China will fulfill the Wealth bonus interest category for the first year only. They will no longer be valid in the succeeding years.

General Information

  • Minimum Age: At least 18 years old
  • Nationality: Singaporean, Permanent Resident, or Foreigner with a valid Visa

To apply, you can click here to open the MCS account. This is valid for Singaporean and Permanent Residents only.

Or you can visit the nearest Bank of China branch and bring the necessary documents:

  1. Original Singapore ID for Singaporeans and Permanent Residents.
  2. For Foreigners:
    • Original Passport, Employment Pass/ S Pass/ Student Pass/ Long-Term Social Visit pass
    • Proof of residences, such as bank statement, utility bills, or mobile bill

Disclaimer: This information may differ from what you see when you visit other financial service websites or the product’s official site, but Loan Advisor continues to keep every detail updated and accurate. This site may be compensated through third-party advertisers. However, the results of our comparison tools which are not marked as sponsored will always be based on objective analysis.

How Does Bank Of China Smart Saver Compare with Other Savings Accounts in Singapore? 

Bank Name

Interest Rate

Minimum Initial Deposit

Minimum Balance

Bank of China Smart Saver Account

0.20% p.a. prevailing base interest rate


Up to 3% maximum interest rate p.a.



OCBC 360 Account

0.05% base interest rate p.a.


2.38% max. interest rate p.a[R1] .



DBS Multiplier Account

0.05% base interest rate p.a.


3% max. interest rate p.a.



UOB One Account

0.05% base interest rate p.a.


2.50% max. interest rate p.a.



Standard Chartered e$aver Savings Account

0.05% base interest rate p.a.


0.50% max. interest rate p.a.



Maybank SaveUp Programme

0.1875% base interest rate p.a.


3.0625% max. interest rate p.a.



Compared with other savings accounts in the market, Bank of China Smart Saver offers a higher prevailing base interest rate at 0.20% p.a. It’s one of the highest prevailing interest rates in Singapore. It is definitely comparable to DBS Multiplier and Maybank SaveUp Programme.

Say, for example, you have S$10,000 in your bank account, credit a salary of at least S$2,000, and have a minimum of S$500 credit card spend, you’ll earn bonus interest of 0.7%. On the other hand, fulfilling the same categories for DBS Multiplier will only earn you 0.4%.

Bank Of China Smart Saver Savings Account – Our Verdict

The Bank of China Smart Saver Savings Account is a straightforward bonus interest structure. You can earn additional bonus interest by fulfilling requirements. One of the advantages of this savings account is that it has a wide range of bonus interest categories, which involves relatively simple transactions.

However, to earn higher bonus rates, account holders need to credit a higher salary, spend more on credit cards, and pay higher bill amounts. That said, the BOC Smart Saver savings account is best for high earners and spenders.

Thankfully, none of the categories is mandatory. You can still earn a relatively competitive base interest rate that ranges between 0.1% and 0.2%, which is higher than its competitors.

See also our Maybank SaveUp Programme and UOB One savings account reviews.

Final Thoughts

Key Takeaways

  • With a Bank of China Smart Saver Savings Account, you can earn up to 3.00% p.a. on your first S$80,000 in your BOC Multi-Currency Savings account balance.
  • There are five bonus interest categories you can choose from to maximize interest earned.
  • Easily unlock bonus interest, especially when you use the BOC Multi-Currency Account as your primary bank account for transactions, such as bills payment and credit card spend.

Just like other savings accounts in Singapore, the Bank of China has lowered both its bonus and prevailing interest rates. This reduction is due to the coronavirus outbreak. However, even with these lowered rates, this savings account still offers highly competitive rates.

In fact, its base interest rate of 0.20% p.a. is still much higher than other banks in the market. To maximize returns, you can consider investing in their wealth bonus interest category.

But to do so, you’ll need extra cash. Loan Advisor will help you find the best personal loan packages in Singapore. They have the most up-to-date information about the top licensed moneylenders. Request up to three loan quotes for free today!


For immediate credit card customer service, account holders can contact:

  • In Singapore: Call 1800 338 5335
  • From Overseas: Call (65) 6338 5335

You can also Fax customer service at (65) 6532 6318 or send an email at

There are five bonus interest categories you can choose from. None of these categories are mandatory. However, if you want to maximize the interest rate, you may want to fulfill any or all of these requirements.

1. Credit Spend: Spend at least S$500 on your Debit or Credit Cards during the calendar month

Monthly Spend

Bonus Interest Rate (p.a.)

S$500 to S$1,500(exclusive)


S$1,500 and above



2. Salary Crediting: Credit your salary to your BOC MCS Account to earn up to 0.50% p.a. This applies to your first S$80,000 of your MCS account balance only.

Amount of Salary

Bonus Interest Rate (p.a.)

S$2,000 to S$6,000 (exclusive)


S$6,000 and above



3. Payment: Pay a minimum of S$30 per bill from your BOC MCS Account. You can enjoy up to 0.30% p.a. bonus interest when you successfully complete 3 bill payments via GIRO or Online Banking/ Mobile Banking Bill Payment function.

4. Extra Savings Bonus: When your account balance is above S$80,000, you’ll enjoy an additional 0.40% p.a. on top of the 0.20% p.a. prevailing interest rate. However, you need to fulfill any 1 of the requirements for Card Spend, Salary Crediting, or Payment bonus interest.

5. Wealth Bonus Interest: Earn up to 1.50% p.a. when you purchase eligible BOC wealth products. You can earn this wealth bonus interest for 12 consecutive months.

Aside from the Singapore dollar, you can also hold the following currencies in your MCS Account: USD, GBP, AUD, NZD, EUR, CAD, JPY, CHF, and RMB.

Only retail transactions with posting dates within the calendar month will be eligible for bonus interest. The following transactions are not eligible for this bonus: 

  • Cash withdrawal
  • Credit card fees and charges
  • Transactions on cards that are canceled, voided, reversed, or unsuccessful
  • The unposted amounts under Installment Payment Plan and Flexi-Balance transactions
  • Sam payment and AXS payment
  • Other transactions the bank may determine as not eligible for Card Spend Bonus from time to time without prior notice.

You will need to provide your HR department the following information:

  • The last 11 digits of your MCS account number
  •  Bank code (7083)
  • Branch code (011)

You can also use this template to submit all the necessary details to your HR Department.

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