- Valid for new Citibank customers only (ie. you do not hold any existing Citigold or current/savings accounts).
- *if you have a Citibank credit card or personal loan but no existing bank account with Citi for the last 13 months, you can qualify as new-to-bank.
- Timeline you can expect for your funds for 6 months:
| Month of Account Opening | Deposit min. S$250,000 AUM in fresh funds |
Verification of Criteria | SingSaver Gift Fulfilment Period | Citigold Gift Fulfilment Period | 6 Month Fixed Deposit Maturity |
| May 2024 | By 31 July 2024 | By 31 August 2024 | By 30 September 2024 | by 31st Oct 2024 | By 31st Jan 2025 |
| Receive gift confirmation on Apple iPhone or S$1200 Cash | Receive gift confirmation of S$400 from Citigold |
Total Gifts You Can Expect to Receive from Citigold:
When you maintain your Citigold relationship & fulfill various qualifying criteria, you can receive the below rewards. However, some required a high amount of effort. Therefore, I would say S$400 is the easiest and most achievable goal for most.
Account Rewards | Level of Effort | |
Sign Up Promotion | Receive an Apple iPhone 15 Plus 256GB or S$1200 cash | Low |
Complete an Investment Risk Profile and Fact Find (you don’t have to buy anything!) | S$100 | Low |
Hold a valid Citi Credit Card within the period of Enrollment Month till the end of the Welcome Period | S$100 | Low |
Get a Citi Home Loan of at least S$800,000 within 3 month of account opening. | S$800 | high |
Purchase any Citibank Investment or Insurance | S$250 cash for every S$50,000 purchase | skip this |
Terms and Conditions apply.
Total Gifts You Can Receive from SingSaver + Citigold + Fixed Deposit:
Based on a conservative calculation, the ROI is between 4.13% p.a or 4.47% p.a which is not too bad.
Account Rewards | Level of Effort | |
Sign Up Promotion Above | Receive an Apple iPhone 15 Plus 256GB (worth S$1,623.85) or S$1,200 Cash | Low |
AND Complete Below: | ||
Hold a valid Citi Credit Card within the period of Enrollment Month till the end of the Welcome Period | S$100 | Low |
Complete an Investment Risk Profile and Fact Find (you don’t have to buy anything!) | S$100 | Low |
New! 3% p.a. rate on 6-month SGD Time Deposit | S$3,750 for S$250,000 deposit | Low |
Total Rewards Received: | ||
Sign up Promotion Above | min. S$5,150 cash or S$5,573.85 (iPhone) | ROI: 4.13% p.a or 4.47% p.a |
Receive an Apple iPhone 15 Plus 256GB (worth S$2,017.50) or S$1,200 Cash when you sign up for Citigold account and deposit S$250,000 within 3 months of account opening.
Citi Tiers:
- Citibank Premier Banking has these tiers with their respective minimum Assets Under Management (AUM) criterias:
- Citigold Private Client – S$1,500,000
- Citigold – S$250,000
- Citi Priority – S$70,000
- Citi Plus status – S$15,000 *Citigold sits right at the 2nd highest tier in the Premier banking.
Eligibility and Fees:
- Minimum Age: 18 years old and above
- Assets Under Management (AUM) of at least S$250,000
- Valid for Singaporeans and PRs or foreigners with a valid pass and residing in Singapore.
Key Features of Citigold Status:
- Global premier banking benefits: your Citigold status in Singapore is equivalent to Citigold status in any country where Citi is at.
- You will be assigned to a dedicated Relationship Manager who is able to give you access to certain investment products that are not available to retail investors.
- You will also enjoy preferential interest rates for SGD and USD time deposits, investment, and insurance time deposit bundle.
- You will also receive lower foreign exchange rates and remittance fees.
- You will receive no administrative fees and no foreign exchange conversion fees at any Citibank ATM worldwide.
- Free Access to Citigold Centres Lounges and Meeting Rooms
- Boundless use of phones, fax machines, and the Internet for free
Citigold comes with a Citi Wealth First Account that lets you earn up to 7.51% p.a. interest on an account balance of up to S$100,000 based on below criterias:
- SPEND: Earn 1.5% p.a – Citibank debit mastercard of eligible retail spend of at least S$250 per month or;
- INVEST: Earn 1.5% p.a for 12 months – A new single lump sum investment (unit trusts, structured notes and/or bonds) of at least S$50,000, multiple lump sum investments aggregating to at least S$50,000 in a month or;
- INSURE: Earn 1.5% p.a for 12 months – A new insurance policy with a single premium of at least S$50,000, multiple insurance policies with aggregated single premiums to at least S$50,000 in a month or;
- BORROW: Earn 1.5% p.a for 12 months – A new home loan (excluding interest offset home loans) of at least S$500,000 or;
- SAVE: Earn 1.5% p.a – An increase in your account’s average daily balance from previous month’s average daily balance by at least S$3,000
- Base interest of 0.01 p.a
My Take:
The Apple iPhone 15 Plus 256GB will give the best deal. However, if you choose the cold-hard cash of S$1200, that’s also quite good too. On top of that, now you get to put the money into the fixed deposit to earn 3.0% p.a over 6 months. Potential sign-up bonuses for new Citibank credit card customers are also not included. Overall, this is an option for short-term investment of S$250,000 if the funds are readily available. You can close the account after you have received your rewards and the 6 months time deposit is up!
Additional Information:
During the account opening process, a dedicated Relationship Manager (RM) might discuss investment-linked policies or other investment plans. It’s always a good practice to carefully consider any financial products and there is no harm consulting another independent trusted source who understand your individual financial situation and risk tolerance to look at the proposed policy before making a decision.
Apply For The Citi Prestige Card For Future Optimisation For Mile Chasers:
Maintaining Citigold status after this promotion allows you to apply for the Citi Prestige credit card as a new cardholder and potentially receive a separate sign-up bonus. You would be able to apply for the Citi Prestige Credit card if you hold a Citigold status. Upon doing so, you will be considered a new-to-Citi-Prestige credit cardholder and receive the Citi Prestige Sign up bonus which is separate from the other Citibank credit cards. Citi Prestige card is great for the unlimited free lounge passes, 4th night free stay amongst its other perks. The perks more than cover the non-waivable annual fee if you are able to utilise them well. I did a Tiktok video comparing three S$120K income range cards and Citi Prestige came up tops in my books. You may refer below to the sign up promotion happening right now and sign up below if you are interested.
Citi Prestige Card
Earn 1.3 miles per dollar on local spend and 2 miles per dollar on foreign currency spend
12 Priority Pass visits per calendar year
💳 Credit cards change their T&Cs every so often and it is difficult to stay updated. That’s why I created a Telegram Broadcast where you can receive timely bite-sized updates to get the most out of your spending.
💡 We believe in always paying our credit card bills on time and in full. It is only by doing that, can we fully maximise our credit card benefits.
