This blog post has been updated as after posting the Tiktok video, we received information that the promotions are non-stackable.
Citigold Sign Up Promotion:
Two Non-stackable options:
1. Receive an Apple iPhone 15 Pro Max 256GB (worth S$2,017.50) or 100,000 Max Miles or S$1,500 Cash
- Successful applicants of Citigold who make a S$250,000 Deposit within 3 months of account opening and maintain these funds until gift fulfilment
- If you open your account in Feb and deposit your fresh funds of S$250K by 30 Apr, the verification will be done by 31st May, and the gift fulfilment period will be by 30 June
- BAU: Score over S$2,460 bonus cash when you maintain your Citigold relationship and fulfil various qualifying criteria
- Terms and Conditions. Click here
- Valid until May 12, 2024
- Applicable to New-to-bank only:
“New to Bank” refers to a Citi Customer who fulfills the following criteria:
- is not a U.S. Person;
- is at least the age of 18 during the Enrolment Month;
- does not have a primary Banking Account or primary relationship in each of the last thirteen (13) calendar months before the Enrolment Month;
- does not have any Assets Under Management in each of the last thirteen (13) calendar months before the Enrolment Month;
*if you have a Citibank credit card but no existing bank account with Citi for the last 13 months, you can qualify as new-to-bank.
? Remember to fill up the Rewards Redemption Form with your Application Reference Number within 14 days to secure your rewards after you applied! No form = No Reward. 🙂
2. Receive S$880 or 3.6% p.a for 3 months Fixed Deposit [3 months holding] via Citigold direct
- If you choose the Fixed Deposit option, you will need to deposit funds by 29 February and hold for 3 months.
Let’s Look at the Deal:
Total Rewards that you can receive if you maintain your Citigold relationship and fulfill various qualifying criteria:
| Header 1 | Header 2 | Header 3 |
|---|---|---|
| Account Rewards | Level of Effort | |
| Sign Up Promotion via my link or Citigold direct | min. S$1500 or Apple iPhone 15 Pro Max (worth S$2017.50) or Apple iPad Pro 11 + S$200 or min. S$880 or 3.6% p.a for 3 months | Low |
| Complete an Investment Risk Profile and Fact Find (you don't have to buy anything!) | S$238 | Low |
| Hold a valid Citi Credit Card within the period of Enrollment Month till the end of the Welcome Period | S$300 | Low |
| Get a Citi Home Loan of at least S$800,000 within 3 month of account opening. | S$500 | maybe high |
| Buy S$100,000 worth of investments/insurance | S$600 | maybe skip this |
| Maintain at least S$250,000 for at least a year (if you enroll in Feb 2024, you have to maintain the funds till 31 January 2025) | S$960 | your ROI will be less |
Terms and Conditions. Click here
Where does Citigold sit in the Citibank Premier Banking tier:
- 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 – So 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
Scenario with low effort and high yield:
Assuming I signed up in Feb, deposited fresh funds in Citigold on 22 Apr, deposit S$250,000 till gift fulfillment period which end on 30th June, withdraw on 7 Jul, the returns will be around 6.13% p.a if you choose S$1500 cash over the Apple iPhone 15 Pro Max worth S$2K.
UPDATES:
The promotion on my website has a later deposit date and a shorter holding period. You are able to deposit by 29 Apr and hold the funds for just 2 months to get the optimal benefit and it does seem to provide the best ROI if i deposit funds by 29 Apr and withdraw by 1st July. You should be able to sign up for a fixed deposit when you deposit the fund in April to get even more interest.
| Header 1 | Header 2 | Header 3 |
|---|---|---|
| Account Rewards | Level of Effort | |
| Sign Up Promotion via my link OR Citigold direct | min. 1500 or Apple iPhone 15 Pro Max (worth S$2017.50) or Apple iPad Pro 11"(worth S$1,659.40) + 300 (must deposit by 29 Apr and hold till 30 June - 2 months) OR min. S$880 or S$2,250 interest on Fixed Deposit (must deposit by 29 Feb and hold for 3 months; deposits after 29 Feb will not get this rate) | Low |
| Complete an Investment Risk Profile and Fact Find (you don't have to buy anything!) | S$238 | Low |
| Hold a valid Citi Credit Card (excluding the Sign Up Bonus for Credit Card) | S$300 | Low |
| Total Rewards | min. S$2238 cash or S$2755.5 (iphone) for 2 months OR min. S$1418 or S$2788 (3 months holding) for 3 months | ~5.30% p.a or 6.56% p.a for 2 months OR ~2.32% p.a or 4.60% p.a for 3 months |
This is excluding any additional interest and base interest that you may earn from your S$250K deposit from those hoops like SPEND, SAVE, INSURE etc that you have to jump through. I have not included the sign up bonuses for credit cards that you will get if you are a new-to-bank customer.
This is very good promotion with a very sweet deal of 6.13%p.a 5.30% for S$250,000 of your excess funds for a Premier banking experience. This blog post has been updated as after posting the Tiktok video, we received information that the promotions are non-stackable. Therefore, the deal is slightly less sweet but still good if you have excess funds lying around. This strategy is not for long term holding but i do see some other benefits.
Other Benefits:
I would be able to apply for the Citi Prestige Credit card if I hold my Citigold status. Upon doing so, I 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. I like Citi Prestige card for the unlimited free lounge passes, 4th night free stay amongst its other perks. I did a Tiktok video comparing three S$120K income range cards and Citi Prestige came up tops in my books.
Citi Prestige Sign Up Promotion:
Option 1: Singsaver – Lower Qualifying Spend
- Receive Samsonite Straten Spinner 67/24 + 2X AirTag (worth S$690.80) or Dyson Supersonic (worth S$649) or Apple iPad 10th Gen 10.9 wi 64GB (worth S$499) or 58,000 Yuu Points or S$400 Cash via PayNow upon activating and spending a min. S$500 within 30 days of card approval
- Valid until 01 December 2024
- Promotion is valid for new to bank credit card holders
- Read Terms and Conditions here
- Must fulfill spending requirement to receive gift confirmation
- Remember to check for SingSaver email to secure your rewards after you have applied!
Option 2: Direct Bank Promotion – Higher Qualifying Spend
- Receive 125,000 ThankYou Points in Welcome Gift when you pay annual fee upon card approval & spend S$2,000 in the first 2 months of card approval
- Read Terms and Conditions here
- Valid until 31 December 2024
- Eligible for new main Citi Prestige Card members (if you hold other Citibank cards but have not held a Citi Prestige card over the last 12 months, you are considered new to Citi Prestige)
