facebookIs BOC stable or reliable? - Seedly

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Mango

03 Jul 2020

Saving Hacks

Is BOC stable or reliable?

With DBS Multiplier recently dropping their interest rate wef Aug 2020, i rethink my intention to change my saving account from OCBC to DBS, it seems like now the more attractive one will be Bank of China (BOC), anyone with BOC Smartsaver? Sorry as i just recently started looking more in-depth into Saving Accounts, i am still not very familiar with the banks, and BOC is a foreign bank, hence i do feel a little bit insecure.. Thanks in advance for any advice!

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Tan Wei Ming

03 Jul 2020

Founder and Writer at Frugal Youth Invests

Just because it might be a chinese bank, does not mean they are unstable or unreliable.

Bank of China is part of the members of Deposit Insurance (DI) Scheme.

https://www.sdic.org.sg/sm_list/di_scheme_members

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