Priority banking in Singapore (2025): Benefits, eligibility and more

There are many ways to fake it if you want to look rich in Singapore. You could buy a nice car and then moonlight as a Grab driver to pay off your car loan, or blow a year's worth of savings on a Europe trip and then show it off on Instagram.
But the true indication of an affluent Singaporean is his or her status as a priority banking customer. Priority banking programmes grant high net worth customers perks such as priority queuing, a dedicated relationship manager, better interest rates, and more. Basically, you get the VIP treatment at your bank.
But how does one become a priority banking customer? Which priority banking programme is the best? Here's a guide to the top priority banking programmes in Singapore-their benefits, eligibility requirements, and more.
Priority banking | Minimum requirement* | Applicable cards |
Citigold | $250,000 (but join as an Accredited Investor to unlock more investment opportunities) | Citigold Debit Mastercard Citi Prestige Card |
Citi Priority | $70,000 | Citi Priority Debit Mastercard |
DBS Treasures | $350,000 | DBS Treasures Visa Debit Card DBS Treasures Black Elite Card |
HSBC Premier Bank Account | $200,000 | HSBC Premier Mastercard Credit Card |
Maybank Premier Wealth | $300,000 | Maybank Premier Wealth Platinum Debit Card Maybank Premier Wealth World Mastercard |
OCBC Premier | $350,000 | OCBC Premier Banking Debit Card OCBC Premier Voyage Card |
SCB Priority | $200,000 | Standard Chartered Priority Visa Infinite Credit Card |
UOB Privilege Banking | $350,000 | UOB Privilege Banking Card |
*Refers to total assets, which could be funds in savings accounts, fixed deposits, and various investment instruments.
Priority banking is designed for high net worth customers who can afford to deposit and transact large amounts of money with a bank.
In short, being a priority banking customer makes you a VIP member at the bank.
How do I qualify for priority banking?
To qualify as a priority banking customer, you need to park a certain amount of assets with the bank. We refer to these as Assets Under Management (AUM). Collectively, your AUM could be cash left in savings accounts or fixed deposit accounts, or in investments such as bonds, shares, unit trusts, ETFs and REITs.
As you will later see, the minimum requirements are not astronomically high-you don't need to be a millionaire. A few banks will let you become a priority banking customer if you have assets of $200,000 with them, which many Singaporeans do have. But just because you can qualify doesn't mean you need to or should.
It's a better idea to shop around for a bank or bank(s) that can give you the best return on your deposits or investments, rather than throw all your money into one bank just because you want to become a priority banking customer.
By the way, you may also have heard the term "private client". This is not the same as being a priority banking customer; these folks even more affluent and are 1 tier above priority banking .
As a priority banking customer, you get preferential treatment, including better rates, a dedicated relationship manager and other perks that will work together to help you get even richer.
While perks vary from bank to bank, in general you get to enjoy the following:
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Citibank has two priority banking programmes:
To be an Accredited Investor with Citigold, you need to meet at least one of the following three requirements:
Net Personal Assets | Net personal assets exceeding $2 million in value (or its equivalent in a foreign currency); or |
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Net Financial Assets | Financial assets (net of any related liabilities) exceeding S$1 million in value (or its equivalent in a foreign currency); or |
Minimum Income | An income in the preceding 12 months of not less than S$300,000 (or its equivalent in a foreign currency) |
If you don't qualify as an Accredited Investor, the minimum you need to join Citigold is $250,000 in AUM.
While Citigold has higher wealth requirements than Citi Priority, it's also more generous in terms of perks — especially if you opt in as an Accredited Investor:
Additionally, you're entitled to the Citigold Debit Mastercard, which gets you travel, dining and entertainment deals and discounts.
You also get more perks with the Citi Prestige Card:
Currently, if you join Citigold as an Accredited Investor, you can get up to $8,900 in rewards. Yes, please!
But to get the maximum cash amount, you need to do things like invest or insure, do a fixed deposit, and maintain your Citigold relationship up to point of reward fulfilment:
Citigold welcome gift | |||||
Requirements | Reward amount | ||||
Start a Citigold relationship with $800,000 in fresh funds | $2,000 | ||||
Complete the Investment Risk Profile and Fact Find Report* | $100+ $188 Prosperity Bonus | ||||
Opt in as an Accredited Investor | $300 + $200 Prosperity Bonus | ||||
Invest and/or insure $500,000 (of the $800,000 in fresh funds) with Citi (get $250 for every $50,000 invested/insured)* | $2,500 | ||||
Hold a primary Citi credit card | $100 | ||||
Place $300,000 in a 6-month fixed deposit | $3,900 in interest | ||||
Total | $8,900 + $388 Prosperity Bonus |
* By the end of the welcome period, which is a period of three months after you successfully open your Citigold account, including the enrolment month.
On top of that, you’ll be rewarded with an additional $500 cash if you take up a Citi Home Loan (minimum $800,000).
If you don’t want to invest or insure, you’ll still get $2,500 + $388 in rewards so long as you fulfil the fresh funds, risk profile, Accredited Investor, and Citi credit card requirements.
Simply want to join Citigold and maintain funds in your account? From now till Jan 31, 2024, apply via MoneySmart to get $800 cash via PayNow or 11,250 SmartPoints when you:
T&Cs apply.
Citi Priority is the more accessible of Citi’s 2 priority banking programmes, with a minimum requirement of $70,000.
Like Citigold, you also get a debit card — the Citi Priority Debit Mastercard. This card lets you withdraw cash free at Citibank ATMs worldwide and gives you some dining, travel and entertainment perks.
Your Citi Priority status will also get you preferential rates for things like fixed deposits, plus get you personalised services to manage your wealth.
DBS wants its priority banking DBS Treasures customers to know they are important. That’s why there are 3 fancy DBS Treasures Centres opened just for priority banking customers, as well as their DBS Treasures Exclusive Safekeeping Centre.
Open from 830 am to 430 pm (weekdays) / 1 pm (Saturdays; closed on Sundays), this centre is for you can to keep your valuables. It also has private parking lots and is equipped with lounge areas where you can have a drink and relax.
If one of your incentives for becoming a priority banking customer is to avoid long queues and get VIP treatment, then DBS is one of your best bets.
Other perks include fee waivers on telegraphic transfers and withdrawals from Visa/PLUS ATMs worldwide.
DBS Treasures members get to sign up for the following cards:
You need at least $350,000 in investible assets for DBS Treasures.
Just FYI in case you’re curious, you can become a DBS Treasures Private Client if you have $1.5 million, and you unlock FBS Private Bank status at $5 million.
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To become a HSBC Premier customer, you need to tick one of the following boxes:
The priority banking programme has two tiers, Premier and Premier Elite. The latter targets a wealthier clientele — those with at least $1.2 million in total relationship balance and who qualify as an Accredited Investor.
As an HSBC Premier customer, you gain access to their HSBC Premier Mastercard Credit Card, which gives you perks such as:
HSBC Premier’s welcome gift is currently a gift of up to S27,088 in cash rewards and a preferential 3% p.a. interest rate. It being the Chinese New Year season, you’ll also enjoy a festive gift: a complimentary abalone gift set when you meet up with your dedicated Relationship Manager:
Maybank Premier Wealth members enjoy priority services at Maybank branches in Singapore and Malaysia, as well as Bank Internasional Indonesia branches in Indonesia. It’s thus a good programme to consider if you frequently travel to Malaysia or Indonesia.
In Singapore, you’ll be able to do all your banking in comfort and privacy at these Maybank Premier Lounges: Maybank@BukitTimah, Maybank@HollandV, Maybank@JurongPoint, Maybank@MarineParade, Maybank@Tampines, Maybank@Tower and MSpace@Maybank Orchard.
You’ll also a dedicated Maybank Premier Relationship Manager whom you can draw on for insights, wealth advice, and personalised services.
Your Maybank Premier Wealth Platinum Debit Card lets you withdraw cash from Maybank ATMs in Malaysia, Brunei, the Philippines, Indonesia and Cambodia without any service charge. You’ll also be eligible for the Maybank Premier Wealth World Mastercard, which offers the following perks:
To be a Maybank Premier Wealth Client, you’ll need at least $300,000 in investments or cash with Maybank.
You need at least $350,000 to become an OCBC Premier client. Should you join OCBC Premier? Here’s what they can offer:
Additionally, the OCBC Premier VOYAGE Card gets you the following perks:
They also have a debit card, the Premier World Elite Debit Card. If you spend $400 a month on the card, you can enjoy an unlimited 1% rebate on overseas spending and duty-free shops in Singapore, as well as selected online merchants, transport, fast food and convenience stores in Singapore.
This is a rather generous rebate for a debit card, although you can easily find credit cards that beat it.
If you can fund at least $200,000, you can join Standard Chartered Priority Banking. This programme makes it easier for you to grow your wealth with Standard Chartered, giving you access to digital wealth solutions and market updates. You’ll also have access to their Priority Banking team.
With the Standard Chartered Priority Visa Infinite Credit Card, you get the following perks:
By way of welcome gift, Standard Chartered is advertising a whopping $43,525 worth of welcome rewards when you join thir priority banking programme.
The catch? You have to do a whole bunch of stuff to get that figure, such as parking your cash in equities/unit trusts/other investments with the bank.
If you do the minimum and just fund $200,000, plus complete a Financial Needs Analysis, you’ll get $600. Opt in to be treated as an Accredited Investor and you can get an additional $1,000 cash reward.
With a minimum asset requirement of $350,000, UOB Privilege Banking is one of the harder priority banking programmes to qualify for. It comes with privileges such as:
Aside from the aforementioned usual preferential rates and priority banking services, a big draw of UOB Privilege Banking is the UOB Privilege Banking Card, which offers the following perks:
Based on the amount of funds you have, these are the suitable priority banking programmes:
Total assets | Suitable priority banking programmes |
At least $70,000 in the bank | Citi Priority |
At least $200,000 in the bank | Citigold, HSBC Premier and SCB Priority Banking |
At least $300,000 in the bank | DBS Treasures, OCBC Premier, Maybank Premier Wealth, UOB Privilege Banking |
Funds aside, another factor to consider is your lifestyle. For example, if you have business dealings or relatives in Malaysia or Indonesia, the Maybank Premier Wealth programme is a good one to join.
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This article was first published in MoneySmart.