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BOC SmartSaver (Effective from 1 April 2019 to 31 July 2020)



BOC SmartSaver is a savings plan for BOC Multi-Currency Savings (MCS) account holders to earn bonus interests on top of the prevailing interests. Earn up to 3.55% p.a. on the first S$60,000 of your account balance when you perform the following designated transactions:

  • Card Spend
  • Salary Crediting
  • Payment

In addition, enjoy 1.00% p.a. on your account balance above S$60,000 when you have fulfilled at least one of the above criteria.

Prevailing Interest

  • Prevailing interest rate for MCS Account is based on tier basis. The more you deposit, the higher interest rate you can earn. Please click here for information on MCS Account SGD sub-account prevailing interest rates.
  • The corresponding prevailing interest rate is applicable to the entire account balance.
  • Prevailing interest is accrued daily and will be credited to your BOC MCS account at the end of each month.

Bonus Interests

Card Spend Bonus Interest

You will enjoy different tiers of Card Spend bonus interest based on your posted transaction amount within the calendar month.

Monthly Spend* Bonus Interest Rate (p.a.)
S$1,500 and above 1.60%
S$500 - < S$1,500 0.80%

     *Only eligible transactions posted within the calendar month will be considered.

  • You will need to be the Principal Cardholder of BOC Debit and/or Credit Cards to be eligible. If you are holding a supplementary credit card, retail transactions charged to the supplementary card will be consolidated with the card spend of its principal card.
  • If your BOC MCS Account is a joint account, you will need to be the main account holder to be eligible. Other account holders’ card spending will not be considered as eligible.
  • Only retail transactions with posting date within the calendar month will be considered. Any amount charged to the BOC Debit and/or Credit Card(s) that is subsequently cancelled, voided or reversed, will be deducted from the total amount of retail transactions in that month.
  • You will enjoy BOC Debit and Credit Card benefits and privileges at the same time.
    • Enjoy up to 9% cash rebate with your BOC Family Card. For more information, please click here.
    • Enjoy easy access around China with BOC Unionpay Dual Currency Debit Card, your preferred card to China. For more information, please click here.
    • For more information on BOC Debit and Credit Cards, please click here.
  • Card Spend bonus is applicable to the first S$60,000 of your MCS account.

The following transactions do not qualify for this bonus:

  • Cash withdrawal
  • Fees or charges
  • Funds transfer or cash advance
  • Transactions on BOC Cards that are terminated or unsuccessful
  • The unposted amounts under Installment Payment Plan (“IPP”) and Flexi-Balance transactions
  • Any amount charged to your BOC Debit or Credit Cards that is subsequently cancelled, voided or reversed
  • AXS payments (transactions via all AXS channels, including AXS station, AXS e-station, AXS m-station, etc.)
  • Any other transactions BOC may determine as not eligible for Card Spend bonus from time to time without prior notice.

Salary Crediting Bonus Interest

You will enjoy different tiers of Salary Crediting bonus interest based on the total amount of salary credited within the month.

Amount of Salary Bonus Interest Rate (p.a.)
S$6,000 and above 1.20%
S$2,000 - < S$6,000 0.80%
  • Only genuine employment salaries credited via GIRO with transaction descriptions "IBG-SALA" or "SALA" printed on the monthly statement within the calendar month are eligible. (Please refer to BOC SmartSaver Terms and Conditions for more information.)
  • If there are multiple salary credits within the month, the total amount will be combined to be considered for the bonus interest.
  • Salary crediting via inter-bank GIRO usually takes up to 1-3 working days. Eligible salary credited will be based on the actual posting date.
  • Should you need to change your salary crediting account, you just need to inform your HR department of your BOC MCS account number (Please omit the first 4 digits “6500” and submit the last 11 digits of the account number, i.e. “9000XXXXXXX” to your HR department) as the salary crediting account. BOC SWIFT code is BKCHSGSGXXX. Bank code is 7083. Branch code is 011. Alternatively, you may also use the change of salary crediting account letter prepared by us to submit to your HR. (Please click here to download the template.)
  • Salary Crediting bonus is applicable to the first S$60,000 of your MCS account.

Payment Bonus Interest   

  • Enjoy 0.35% p.a. Payment bonus interest when you successfully complete 3 bill payments of at least S$30 each via GIRO or BOC Internet Banking/BOC Mobile Banking Bill Payment function.
  • Payments via other forms (such as cash, cheque, cashier’s order, AXS etc.), and payments subsequently cancelled, reversed or voided are not eligible.
  • It may take up to 1-3 working days for bill payments via GIRO and BOC Internet Banking/BOC Mobile Banking Bill Payment function to be posted. Only payments transactions with actual deduction dates within the month will be eligible.
  • Payment bonus is applicable to the first S$60,000 of your account balance.

Extra Savings Interest

  • Enjoy 0.60% p.a. Extra bonus interest when you have fulfilled at least one of the requirements for either Card Spend, Salary Crediting or Payment bonus interest.
  • Payment bonus is applicable to your account balance above S$60,000 subject to a maximum of S$1,000,000.
  • Prevailing interest rate will apply to your account balance above S$1,000,000.

Important Notes:

  • All interest rates shown above are on a per annum basis and applicable to SGD deposits. Rates shown are indicative only and are subject to change without any prior notice.
  • Bonus interest will be calculated based on the account monthly average effective balance for the actual number of days you hold the MCS account. Effective balance refers to the Singapore Dollar (SGD) day-end available balance in your account. Earmarked balance, overdraft and cheque float amount are not considered as effective balance. Monthly average effective balance is calculated on a monthly basis as the summation of each day-end effective balance in a month divided by the calendar days in that month.
  • A minimum monthly average effective balance of S$1,500 is required to enjoy bonus interests. Earmarked balance for other promotions or reasons shall not be eligible for SmartSaver bonus interest.
  • Prevailing and bonus interests will be calculated on a monthly basis. Prevailing interest will be credited to your account at the end of each month. Bonus interests will be credited within 15 working days in the following month. For joint account, you need to be the main account holder to be eligible for bonus interest.
  • Your bonus interests will be reflected in your BOC MCS Account’s monthly statement as:
    SmartSaver Bonus Interest – Card Spend
    SmartSaver Bonus Interest – Payment
    SmartSaver Bonus Interest – Salary Credit
    SmartSaver Bonus Interest – Extra
  • Monthly cash rebate for BOC Family principal card is capped at S$100. Monthly cash rebate for BOC Family supplementary card is capped at S$20.Cash rebate is up to S$1,440 a year.

Sign up for BOC SmartSaver today!

Simply visit any BOC branch to open a BOC Multi-Currency Savings Account. You will be automatically registered for SmartSaver.

BOC Multi-Currency Savings (MCS) Account is a statement-based consolidated savings account covering both local currency and nine foreign currencies. This account requires a minimum deposit of S$1,500. To open a BOC MCS Account, you must be 18 years or older, and the following documents are required:

  • Singaporean/PR: original Singapore ID
  • Foreigners: original Passport, Employment Pass/ S Pass/ Student Pass/ Long-term Social Visit Pass, proof of address (bank statement/ utility bills/ mobile bill/ tenancy agreement within 3 months).

A monthly account maintenance fee of S$3 will be charged if your monthly average account balance is less than S$1,500.

Deposit Insurance Scheme: Singapore dollar deposits of non-bank depositors are insured by the Singapore Deposit Insurance Corporation, for up to S$75,000 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 for full details.

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