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Best Priority Banking Accounts in Singapore (2021)

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Citigold

Citigold

SingSaver's Exclusive Offer
Citigold
From S$
From S$250,000
Min. Assets Under Management
Up to
Up to0.1%
Base Annual Interest Rate
Up to
Up to2.8%
Max. Bonus Interest Rate
SingSaver's Exclusive Offer:
Snag an Apple Airpods Max (worth S$849) or an Apple iPad Air (worth S$879) when you make a min. deposit of S$250,000 within 90 days of account opening. Valid till 12 Sep 2021. T&Cs apply.
Standard Chartered Priority Banking

Standard Chartered Priority Banking

Welcome Gift
Standard Chartered Priority Banking
From S$
From S$200,000
Min. Assets Under Management
Up to
Up to0.01%
Base Annual Interest Rate
Up to
Up to2.38%
Max. Bonus Interest Rate
Welcome Gift:
Receive up to S$9,000 cash when you become a Standard Chartered Priority Banking client. Valid till 30 Sep 2021. T&Cs apply.
CIMB Preferred

CIMB Preferred

CIMB Preferred
From S$
From S$250,000
Min. Assets Under Management
Up to
Up to0.2%
Base Annual Interest Rate
Up to
Up to0.4%
Max. Bonus Interest Rate
OCBC Premier Banking

OCBC Premier Banking

Welcome Gift
OCBC Premier Banking
From S$
From S$200,000
Min. Assets Under Management
Up to
Up to0.05%
Base Annual Interest Rate
Up to
Up to0.05%
Max. Bonus Interest Rate
Welcome Gift:
Get up to S$2,750 in cash credit and interest when you make a fresh funds deposit of min. S$350,000 and apply for two credit cards. Valid till 30 Sep 2021. T&Cs apply.
DBS Treasures

DBS Treasures

Welcome Gift
DBS Treasures
From S$
From S$350,000
Min. Assets Under Management
Up to
Up to0.05%
Base Annual Interest Rate
Up to
Up to0.05%
Max. Bonus Interest Rate
Welcome Gift:
Enjoy up to S$4,100 in cash rebates when you make your first unit trust subscription as a DBS Treasures client. Valid till 30 Sep 2021. T&Cs apply.
UOB Privilege Banking

UOB Privilege Banking

UOB Privilege Banking
From S$
From S$350,000
Min. Assets Under Management
Up to
Up to0.05%
Base Annual Interest Rate
Up to
Up to0.05%
Max. Bonus Interest Rate
HSBC Premier

HSBC Premier

Welcome Gift
HSBC Premier
From S$
From S$200,000
Min. Assets Under Management
Up to
Up to0.01%
Base Annual Interest Rate
Up to
Up to0.05%
Max. Bonus Interest Rate
Welcome Gift:
Receive up to S$6,900 in cash credits and cashback when you become a HSBC Premier client. Valid till 30 Sep 2021. T&Cs apply.

Benefits of priority banking

There are a host of benefits when you apply for a priority banking programme:


  • Save time via priority queue at bank outlets
  • Access a wider range of financial products and services
  • Personalised services that tailor portfolios unique to your goals and needs
  • Exclusive lifestyle and travel privileges

Differences between priority and private banking

Although they appear to be synonymous, private banking is actually a large step-up from priority banking. Private banking caters to ultra-high-net-worth individuals, with AUM requirements that are multiples higher than priority banking programmes.

In turn, clients are offered the widest range of financial products and services, the most personalised service, and the best perks.

Fees and charges to look out for in a priority banking programme

There aren’t any fees or charges for joining a priority banking programme. However, annual membership renewal depends on whether you maintain the minimum AUM stipulated by the bank.

If you do not meet that requirement, banks can either levy a fee or deny membership renewal and convert your priority banking relationship to a personal banking one.

Need Some Help?
No worries, we’ve got you covered!
What is priority banking?

Priority banking is a step above retail banking, being offered to high-net-worth individuals who intend to transact larger amounts with banks. Priority banking clients are granted personalised financial advice, a wider range of financial products and services, and better lifestyle privileges.

How do I qualify for priority banking?

Each priority banking programme has a minimum Assets Under Management (AUM) amount that you need to meet. You can do so by making a cash deposit, purchasing qualifying investment products, or a combination of both. Perform a check before applying because the AUM amount varies across the many priority banking programmes available in Singapore.

Which is the best priority banking programme in Singapore?

It depends, because each priority banking programme in Singapore is unique. Firstly, not all priority banking programmes have the same qualifying AUM. Secondly, the financial services and products offered aren’t identical across the board. Finally, lifestyle privileges and other fringe benefits that are granted differ as well. That said, some of the top ones in Singapore include Citigold, DBS Treasures, OCBC Premier, and UOB Privilege Banking.

What are some features of a priority banking programme?

Some features of a priority banking programme include wealth planning, quicker and more personalised service at banks, access to a wider range of financial services and products, and more.

What does a Relationship Manager do?

A bank’s Relationship Manager provides personalised financial advice to priority banking and private banking clients. They suggest appropriate investment products and financial services based on their clients’ current situation and goals, be it short-term or long-term ones.

What is private banking?

Private banking is a tier above priority banking and is offered only to ultra-high-net-worth individuals. Qualifying requirements are even more stringent, but clients receive the widest range of financial services and products, best service, and most luxurious lifestyle benefits.

Which private banking programme is the best?

Like priority banking programmes that are a tier below private banking, it depends. No private banking programme is the same, so it pays to do your research and compare what’s available before you decide to sign up with a particular bank.

What are the benefits of a premium bank account?

Several benefits of a premium bank account include fee-free withdrawals from ATMs overseas, no foreign exchange fees, and bonus interest rates that are extended to a greater balance in your account.

What is the importance of Know Your Customer (KYC)?

Due to the exclusive nature of priority banking programmes, KYC checks conducted by banks are stricter as compared to retail banking products and services. It’s important for banks to know who their priority banking clients are and verify their identity, as the amounts of money transacted will be much larger than retail banking customers.

When can a banker disclose a customer's account?

There are several scenarios where a bank can disclose a customer’s account information. Firstly, it can do so if it needs to take legal action against a customer. Secondly, it can also do so if a customer permits it in writing. Last but not least, a bank can disclose a customer’s information to the police or court for investigation purposes.

Confused by Priority Banking terms?

Glossary terms to know for first-time priority banking users

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