Citi Plus Review: All-In-One Wealth Management Platform + Savings Account

More than just your usual savings account, Citi Plus is a holistic digital-only wealth management account that lets you save, invest and insure yourself all within the Citi Mobile App.

Holistic financial planning goes way beyond merely parking your funds into a high-yield savings account and calling it a day. It requires diversifying your investment portfolio, safeguarding yourself against uncertainty and piling up knowledge on all things financial literacy.

And guess what, Citi Plus allows you to do just that. It rewards you with bonus interest when you carry out proper financial planning and works towards your financial goals.

Want to know if it’s the right account for you? We deep dive into everything you need to know about the new kid on the block, Citi Plus.

How does Citi Plus Account work?

Citi Plus offers interest of up to 2.8% p.a. on your savings with the Citi Interest Booster Account. With a base interest of 0.3%, you’ll be able to level up your interest rate when you increase your balance, investment with Citibank, purchase an insurance plan policy and more.

Besides that, Citi Plus also provides a host of educational materials where you can learn about anything finance-related and improve your financial literacy. They also offer a wealth of insights to help you make sound financial decisions.

SingSaver's Exclusive Promotion: Receive S$50 cash upon opening a Citi Plus account and get another S$150 cash (total S$200) or an Apple HomePod mini (worth S$139) when you fund a min. deposit of S$15,000 within 2 months of account opening and maintain it for 4 months. Valid till 31 May 2023. T&Cs apply.

Receive your S$50 cash reward for opening a Citi Plus account in just two weeks!

Plus, enjoy up to S$450 cash and up to S$509 worth of exciting gifts when you join Citi Plus and apply for a Citi Cashback+ Mastercard. T&Cs apply.

Apply Now

What are the benefits of Citi Plus?

#1 Offers high interest of up to 2.8% p.a.

While other wealth management solutions focus solely on other aspects, Citi Plus doesn’t neglect its savings account and offers an attractive interest of up to 2.8% p.a with its Citi Interest Booster Account.

Though there are many hoops to jump through, you start with a base interest of 0.3% p.a. (interest rate applicable till 31 December 2023, and on first S$50,000 balance).

This is still much higher than the base interest of many savings accounts, allowing your money to work hard for you even if you don’t want to tick any other boxes to earn bonus interest.

If you do, you’ll be thrilled to know that there are a total of six requirements you can fill that earn you bonus interest.

Bonus interest (p.a.)	Category	Action required
0.1%	Birthday	Keep account open during birthday month Get bonus interest for birthday month
0.2%	Save	Increase your balance by S$1,500 or more Get bonus interest on incremental balance from previous month
0.2%	Spend	Spend minimum S$500 of eligible spending on Citi Cash Back + Mastercard or Citibank Debit Mastercard Get bonus interest per month
0.6%	Invest	Perform three investments of S$1,000 or more Get bonus interest per month Qualifying transactions include: min S$1,000 investment funds purchase min S$1,000 forex conversion min S$1,000 stocks purchase
0.6%	Insure	Purchase a new regular premium insurance policy with minimum annual premium of S$5,000 Get bonus interest for 12 months
0.8%	Mortgage	Take up a minimum home loan of S$500,000 Get bonus interest for 12 months

From now till 31 December 2023, Citibank has waived their minimum account balance fee.

SingSaver Exclusive Offer: Get S$1,500 Upsized Cash via PayNow or an Apple iPhone 14 128GB (worth S$1,311.10) or an Apple Watch Ultra GPS + Cellular 49mm (worth S$1,210.20) when you apply for a Citigold account and make a S$250,000 deposit by 31 July 2023. Valid till 31 May 2023. Receive your reward in as quickly as 2 months after fulfilling the promotion criteria by the end of Month 3. T&Cs apply.

Enjoy up to 7.51% p.a. interest on your savings when you open a Citi Wealth First account. T&Cs apply.

Also, receive a welcome booster of up to S$1,000 Cash when you join Citigold by 31 May 2023. T&Cs apply.

Apply Now

#2 Up your financial literacy game

Which savings account lets you learn and save at the same time? Citi Plus does!

Their digital wealth platform, Elevate, is equipped with many financial wellness modules that are specially catered to customers who want to learn more about financial literacy.

They aim to guide you in your financial decision-making skills to manage your money more efficiently, build wealth and achieve your financial goals.

Elevate has three segments to equip you with more educational materials to make sounder financial decisions:

Wealth Smart: financial literacy guide that has easy-to-follow courses and quizzes, coupled with bite-sized digestible content to help you build your confidence when it comes to investing
Wealth Digest: A host of articles, videos and insights featuring wealth-related content which are constantly renewed and updated to help you make wiser financial decisions
Money Goal: A tailor-made financial goal-tracking tool for personal use to help you set out their financial goals and track their progress towards them

#3 Invest on-the-go

Why just save when you can invest on the same platform too?

Citi Plus Account offers a wealth of investment products, including investment funds, stocks and forex for you to invest on the go.

If you’re a student or someone with no fixed monthly income, fret not. You don’t need large sums of money to start investing, You can start investing in mutual funds with as little as S$100. With their user-friendly Citi Mobile app, you can invest on the go anytime, anywhere, with just a touch of a button.

Else, you can kickstart your investment journey by signing up for an account with one of these brokerage accounts in Singapore.

Compare Best Online Brokerage

#4 Safeguard yourself

Solidify your financial portfolio by safeguarding yourself too! Citi Plus Account offers a wide range of insurance policies for purchase, all conveniently within the app.

If you’re a beginner to the world of insurance, Citi got your back too. They also offer various educational content regarding insurance, including articles, product catalogues and educational pro-tips to help you choose the right policy catered to your needs.

The cherry on top? Purchasing an insurance policy of at least S$5,000 for regular premiums will also earn you a bonus interest of 0.6% p.a.!

Check out the best insurance plans out there for you and your loved ones.

Compare Best Personal Accident Plans

Comparison of other savings accounts

Here’s a side-by-side comparison of the interest rates you’ll be able to earn with other strong contenders.

While there is no salary component to the Citi Plus account, what it does provide is 0.2% bonus interest for incremental savings of S$1,500 and above.

Here’s how Citi Plus Account fares against some of its competitors out there, assuming a min S$500 credit card spend and credit salary of S$3,000.

Savings account	Minimum interest rate (p.a.)	Maximum interest rate (p.a.)	Practical interest rate for S$30,000 (p.a.)
Citi Plus	0.3%	2.8%	0.7% 0.8% (on your birthday month)
CIMB FastSaver	0.8%	4.2%	2.2% for first S$10,000 1.5% for next S$15,000 2.5% for next S$25,000
DBS Multiplier	0.05%	4.1%	1.5%
UOB One Account	0.05%	7.8%	3.85%
BOC SmartSaver	0.1%	7%	2.4%
OCBC 360 Account	0.05%	4.65%	2.6%

Enjoy up to 7.51% p.a. interest on your savings when you open a Citi Wealth First account. T&Cs apply.

Also, receive a welcome booster of up to S$1,000 Cash when you join Citigold by 31 May 2023. T&Cs apply.

Apply Now

Is Citi Plus Account worth it?

Though crediting your salary does not outright give you bonus interest, you'll still be able to earn 0.2% p.a. in bonus interest as long as your balance is increased by S$1,500 on your incremental savings.

Citi Plus Account is most beneficial for those who are attempting to consolidate their financial portfolios.

For those who're just starting out, you may be looking into opening a savings account, applying for a new credit card, investing and insuring yourselves.

This is where Citi Plus Account will come in handy, as doing all these will give you bonus interest, not forgetting the bonus interest earned during your birthday month.

On top of that, those who are new to investing, insurance and other finance-related topics will greatly benefit from this account too, as it offers a wide range of educational materials.

This account is ideal for customers who are kickstarting their financial journey and wouldn’t mind consolidating their portfolios in a single account. After all, it is a digital-only wealth management platform beyond a savings account.

How do I sign up for Citi Plus?

To be eligible for an account, you’ll need to be at least 18 years old. For Singaporeans and Permanent Residents, you can use your Singpass and create an account on their website, with no documents needed.

But if you don’t want to use your Singpass, you will need your NRIC and proof of address if your current address is different from the address in your NRIC.

For foreigners, you’ll need your passport, valid work pass and proof of address.

Student pass holders will need their matriculation card from a school in Singapore or a valid letter of acceptance restricted to your school.

What promotions are there?

Receive your S$50 cash reward for opening a Citi Plus account in just two weeks!

Plus, enjoy up to S$450 cash and up to S$509 worth of exciting gifts when you join Citi Plus and apply for a Citi Cashback+ Mastercard. T&Cs apply.

Apply Now

Here are the rewards you can look forward to:

SingSaver Exclusive Promotion
Eligible fund-in of S$15,000 within 2 calendar months from enrolment and maintain AUM till the end of 6th calendar month. Valid till 31 May 2023.	Citi Plus Singsaver Promotion: S$150 + S$50 Cash Reward
To qualify for Citi Cash Back+ Mastercard Rewards
Apply for a Citi Cash Back+ Mastercard as a new primary/main Citi cardholder and get a welcome gift of 10% cash back on up to S$3,000 qualifying spend in the first 2 months	Up to S$300 Cash Back on Citi Cash Back+ Mastercard
Earn 1.6% cash back and 0.4% bonus cash back on your Citi Cash Back+ Mastercard when you make at least S$500 qualifying spend every month for a period of 12 months from enrolment month (bonus cash back is capped at S$2,000 qualifying spend monthly)	S$120 Cash Back on Citi Cash Back+ Mastercard
To qualify for Citi Interest Booster Account "Spend" and "Birthday" mission
Qualifying spend of at least S$500 monthly on your Citi Cash Back+ Mastercard and/or CIti Plus Debit Mastercard for a period of 12 months from enrolment, plus birthday bonus of 0.10% p,a, when you maintain S$15,000 in your Citi Interest Booster Account	S$76 Bonus Interest

Read these next:
DBS Multiplier: Most Pandemic-proof Savings Account
UOB One Savings Account Review 2023: Up To 3.6% Interest
CIMB FastSaver Account Review (2023)
OCBC 360 Account Review 2023: Earn Up To 4.05% Interest
UOB Stash Account Review (2023)

Citi Plus Review: All-In-One Wealth Management Platform + Savings Account

Deborah Gan

More than just your usual savings account, Citi Plus is a holistic digital-only wealth management account that lets you save, invest and insure yourself all within the Citi Mobile App.

How does Citi Plus Account work?

What are the benefits of Citi Plus?