Sep Fixed Deposit Rates Update - 1.12% P.A.at Bank of China

First some clarifications: Fixed Deposit is not for real investment.  My review on Singapore's FD is limited to S$50,ooo and below; and tenure term not exceeding 12 months.  Fixed Deposit is for parking the emergency fund and allowing immediate access to the fund when needed.  These are also based on the following considerations:

1. Singapore's Deposit Insurance Scheme maximum coverage up to S$50,ooo only.
2. Long tenure term will potentially affect your cash-out value for your emergency fund, as you may suffer a penalty fee for early withdrawal.

Back to the update: According to its website, Bank of China's Fixed Deposit promotion is still on.  However, the 12-month FD rates has came down from 1.18% p.a. to 1.12% p.a.  It is  the highest in Singapore currently.  The minimum deposit amount for BOC FD is S$50,000.

This promotion is valid for customers with fresh funds only, meaning it is not applicable for money transferred from existing BOC accounts.

There are few branches of BOC in Singapore:
1. Battery Road (BOC Building),
2. Chinatown branch (Furama Hotel),
3. Katong branch (188-192 East Coast Road),
4. Middle Road (BOC Plaza),
5. Maxwell Road (Maxwell House).

According to BOC's website, this promotion is for a limited period only.

Promotion Details:

	SGD Time Deposits Promotional Interest Rates % p.a.
	3-Month	6-Month	9-Month	12-Month
S$50,000 and above	0.55%	0.85%	0.95%	1.12%

Please let me know if there is better offer in the market.