The distinguished Bank of China established a branch in Singapore on 15th June 1936. BOC has 70+ years of experience in the Singaporean banking sector and holds the Singapore license of Qualifying full bank license (QFB). With the Group’s global network and professional capacity, BOC provides several banking services to its clientele in Singapore, China, and the environs. The bank encourages mutual trade relations between China and Singapore. Bank of China, Singapore branch offers corporate banking, private banking, remittance services, trade financing, international trade settlement, and China-related trade financing and settlements.
Individuals interested in fixed-rate home loans or fixed-rate refinancing with reasonable interest rates should consider the services of BOC Singapore. Although, it doesn’t offer cheap floating rate loans nor HDB units loan. It presents impressive fixed-rate interest rates for private property in Singapore.
BOC is one of the reasonable lenders of fixed-rate mortgages and mortgage refinancing in Singapore. Still, its floating rates for mortgages and refinancing are slightly higher than the affordable range. Floating rates are tied to the SIBOR benchmark which fosters transparency.
BOC demands standard banking fees like a partial refund, absolute recovery, and mortgage termination with its loans. The lender’s charges, should be compared with the charges of its competitors. In the table below, is a detailed report of BOC loan fees.
|Partial Repayment Fee
|Full Redemption Penalty
|Board Rate (2-Years Lock-in Period)
|Fixed Rate (2-Years Lock-in Period)
|Fixed Rate (3-Years Lock-in Period)
|1.75% (N/A for property sale)
The Bank of China promotes one of the cheapest fixed rate mortgages for private property. Regarding total interest cost, BOC services are excellent. The table below describes the current fixed rates for mortgages.
|Lock In Period
|1st Yr Interest
|No data found
*Today's Mortgage Rates - 04 March 2024
BOC’s floating rate mortgages are higher than the average rate. Hence, the floating rate mortgages, are better kept as backup for those who aren’t able to access better floating rate mortgages.
Once your application is live you will be able to review suitable loan options on your dashboard. One of our
mortgage brokers will follow up with you to discuss the best available options and next steps.
After you’ve decided on a preferred mortgage option one of our mortgage brokers will help process your
Settle all fees (option fee, option exercise fee to the seller as well as the relevant buyer’s stamp duty fee in
case you are purchasing a private property).
Attent your property purchase appointment date and sign all legal documents for the transfer of the property,
paying all legal and valuation fees.
Individuals seeking fixed-rate mortgage to purchase a private residence
Borrowers seeking fixed-rate refinancing loans for private properties
Individuals seeking loans to purchase HDB flat
Individuals seeking floating rate home loans