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For both new and existing Corporate Current Accounts, your Incremental Fresh Funds will enjoy promotional interest rates of up to 0.8% p.a. for USD and 0.5% p.a. for SGD. If you are interested in this promotion, please contact your RM or visit any Bank of China branch.
Incremental Fresh Funds Balance in a
Corporate Current Account |
Promotional interest rates (p.a.) |
| USD Account |
SGD Account |
| Below 100,000 |
0.1% |
0.1% |
| 100,000 to less than 1,000,000 |
0.3% |
0.3% |
| 1,000,000 to less than 5,000,000 |
0.5% |
0.5% |
| 5,000,000 and above |
0.8% |
Terms and Conditions
1. This promotion is valid from 1 January 2017 to 31 March 2017 and for Corporate Current Accounts with Bank of China Limited, Singapore Branch (BOC) in USD or SGD only. The Corporate Current Accounts must be valid, subsisting and in good standing at all times as determined by BOC.
2. During the promotion period, customers who open a new Corporate Current Account will enjoy the promotional interest rates automatically; customers with existing Corporate Current Accounts can contact their Relationship Manager (RM) or visit any Bank of China branch to apply and qualify for the promotional rates.
3. The promotional interest rates are set out in the table above and are subject to change without prior notice to customers. The promotional interest rates are only applicable to Fresh Funds and calculated on a daily basis based on the Incremental Fresh Funds Balance in the Corporate Current Account during the promotional period only. Fresh Funds means funds which are not transferred from any existing account with BOC or in the form of BOC’s cheque(s)/cashier order(s)/bank draft(s). Incremental Fresh Funds Balance means the increase in the day end balance in the Corporate Current Account compared to the day end balance on the day before the promotional interest rates became applicable. The Incremental Fresh Funds Balance may vary according to the amount of Fresh Funds deposited and monies withdrawn from the Corporate Current Account. The account holder may make multiple Fresh Funds deposits into the account or withdraw monies from the account during the promotion period.
The following illustrates the calculation of the promotional interest. It is for illustrative purposes only. A Corporate Current Account in SGD is set the promotional interest rates on 15 January 2017. SGD 500,000 of Fresh Funds is deposited such that the day end balance on that day is SGD 500,000 more than the day end balance on the previous day (i.e. 14 January 2017). On 15 January 2017, the promotional interest credited will be S$99,999.99*0.1%/365+(S$500,000-S$99,999.99)*0.3%/365 = S$3.56
4. If BOC subsequently discovers that the customer is in fact not eligible to participate in this promotion, BOC may at its discretion forfeit the promotional interest or recover it from the customer’s Corporate Current Account if such promotional interest had already been paid to the customer. BOC shall not be liable to make any payment or compensation should any promotional interest be forfeited by or repaid to BOC.
5. Customers agree to be bound by the BOC’s Terms and Conditions Governing Accounts (as may be amended by BOC from time to time).
6. This promotion is not valid with any other promotions and cannot be combined or repeated with any existing promotions.
7. BOC reserves its right to extend, revise or withdraw this promotion, and is entitled to vary, delete or amend these terms and conditions in whole or part without prior notice.
8. The decision of BOC in connection with any matter relating to this promotion is final, conclusive and binding on all customers and no correspondence or claims will be entertained.
9. BOC shall not be responsible nor shall it accept any liabilities of whatsoever nature and howsoever arising or suffered by any and all customers resulting directly or indirectly from this promotion.
10. By participating in this promotion, the customers agree to be bound by these terms and conditions including any amendments and variations thereto.
11. These terms and conditions shall be governed by the laws of Singapore. The participants irrevocably submit to the exclusive jurisdiction of the courts of Singapore. A person who is not a party to these terms and conditions shall have no right under the Contract (Rights of Third Parties) Act (Chapter 53B) of Singapore to enforce any of these terms and conditions.
12. In the event of any discrepancy or inconsistency between these terms and conditions and any brochure, marketing or materials relating to this promotion, these terms and conditions shall prevail. In addition, in the event of any discrepancy or inconsistency between the English version and the Chinese version of these terms and conditions, the English version shall prevail.
13. Deposit Insurance Scheme: Singapore dollar deposits of non-bank depositors are insured by the Singapore Deposit Insurance Corporation, for up to S$50,000 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.
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