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BOC SmartSaver (Effective 1 January 2023)



Name of Product

BOC SmartSaver


BOC SmartSaver is a savings plan for BOC Singapore (the "bank") Multi-Currency Savings (MCS) account holders to earn bonus interest. If you are 18 years old and above, you can open an MCS account to participate in this savings plan with deposit of at least S$200.

With effect from 1 January 2023, you will be able to earn bonus interest if you can fulfil the required criteria. On top of the prevailing interest rates, you can also enjoy bonus interest

rates on the deposits in your BOC MCS account. You can earn up to 7.00% p.a. on the first S$100,000 of your account balance and up to 1.00% p.a. for account balance above S$100,000 to S$1,000,000.

Bonus Interests

1. Wealth Bonus Interest

You can purchase the following eligible Products to meet the minimum amount to enjoy the wealth bonus interest at 2.40% p.a. for 12 consecutive months. For more information on products, you may talk to our Relationship Managers, who will be able to assist you to complete FNA (Financial Needs Analysis) to ensure that the product you have bought is catered to your financial needs. The details of the eligible wealth products and minimum purchase amount are as follows:

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
  • Wealth bonus is applicable to the first S$100,000 of your MCS account balance only.
  • You need to designate one MCS Account as your Wealth Bonus Interest crediting account. The main account holder must be the policy owner of the eligible wealth product.
  • For eligible wealth products with single premium or regular premiums, only the first premium is considered towards the required minimum amount for the purpose of awarding the Wealth Bonus Interest. Any subsequent premiums will not be eligible. Multiple purchases cannot be aggregated for consideration towards the required minimum purchase amount.
  • If you make multiple purchases of eligible wealth products that satisfy the Wealth Bonus Interest criteria and there is an overlap of the Wealth Bonus Interest calculation period, you will only receive one Wealth Bonus Interest during the overlapping period and any non-overlapping period.
  • For financial products denominated in foreign currency, our bank will calculate the premium amount in Singapore dollars using bank’s prevailing exchange rate
  • Wealth Bonus interest computation will commence from the calendar month after the month in which the free-look period for the purchased policy ends or the policy issue date + 21 calendar days, whichever is later.
  • You will not be qualified for the wealth bonus interest if the policy is terminated within 12 months from the issue date of the policy. Our bank reserves the right to deduct / claw back the Wealth Bonus Interest paid to you.
  • Wealth bonus is not applicable for purchase of wealth products using CPF Investment.

2. Card Spend Bonus Interest

Enjoy Card Spend bonus interest when you spend at least S$500 on your Debit or CreditCards during the calendar month.

Monthly Spend Bonus Interest Rate (p.a.)
S$500 to S$1,500 (exclusive) 0.50%
S$1,500 and above 0.80%
  • Card Spend bonus is applicable to the first S$100,000 of your MCS account balance only.
  • You will need to be the Principal Cardholder of 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 MCS Account is a joint account, you will need to be the main account holder to be eligible.
  • Only retail transactions with posting date within the calendar month will be considered. Any amount charged to the 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 Debit and Credit Card benefits and privileges at the same time.

The following transactions do not qualify for this bonus:

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

3. Salary Crediting Bonus Interest

Enjoy Salary Crediting bonus interest based on the following salary crediting amount:

Amount of Salary Bonus Interest Rate (p.a.)
S$2,000 to S$6,000 (exclusive) 1.90%
S$6,000 and above 2.50%
  • Salary editing bonus is applicable to the first S$100,000 of your MCS account balance only.
  • 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 Terms and Conditions Governing BOC SmartSaver 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.
  • To arrange your MCS account as you salary crediting account, you will need to provide the following to your HR department:
    1) Last 11 digits of your MCS account number
    2) Bank SWIFT code (BKCHSGSGXXX)
    3) Bank code (7083)
    4) Branch code (011)
  • You can also use our template "Instruction Form for Salary Crediting" for your submission to your HR department.

4. Payment Bonus Interest

  • Payment bonus is applicable to the first S$100,000 of your MCS account balance only.
  • Enjoy 0.90% p.a. Payment bonus interest when you successfully complete 3 bill payments of at least S$30 each via GIRO or Internet Banking/ 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 Internet Banking/ Mobile Banking Bill Payment function to be posted. Only payments transactions with actual deduction dates within the month will be eligible.

5. Extra Savings Interest

  • Extra Savings bonus is applicable to your account balance above S$100,000 and subject to a maximum of S$1,000,000.
  • Enjoy 0.60% p.a. Extra bonus interest when you fulfil any one of the requirements for Card Spend, Salary Crediting or Payment bonus interest.
  • Prevailing interest rate will apply to your account balance above S$1,000,000.

Application Mode

1. Online Application (For New-To-Bank customers): Click or tap “Accounts via MyInfo” on the main page of your Mobile Banking app.

2. Online Application (For existing customers): Click “Apply for an Account” on the main page of your Online Banking or Mobile Banking app after logging in.

3. Visit your nearest BOC branch with the necessary documents to open the account:

For Singapore Citizens and Permanent Residents, please bring along your original NRIC. For Foreigners, please bring along your Passport, Work Pass/Student Pass/Long Term Visit Pass/Dependent Pass (at least 6 months validity), and proof of address (e.g. bank statement/utility bills/mobile bills within 3 months etc.).

Application Details

  • The above 5 bonus interest rates take effect from 1 January 2023 and are subject to change without any prior notice.
  • Bonus interest rates are not valid for MCS accounts that are enjoying other ongoing promotions or dormant accounts.
  • Minimum initial deposit: S$200
  • Account service charge: S$3 (If monthly average balance falls below S$200)
  • A minimum monthly average effective balance of S$1,500 is required to enjoy bonus interests.
  • 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.
  • Prevailing interest rate of up to 0.40% p.a. is applicable for your entire account balance. To find out more about prevailing interest rates, please refer to "Personal Savings Account Board Rates ".

Terms and Conditions

Deposit Insurance Scheme: Singapore dollar deposits of non-bank depositors are insured by the Singapore Deposit Insurance Corporation, for up to S$100,000 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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