#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.
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#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.
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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% |
4.2% |
2.2% for first S$10,000 |
|
0.05% |
4.1% |
1.5% |
|
0.05% |
7.8% |
3.85% |
|
BOC SmartSaver |
0.1% |
7% |
2.4% |
0.05% |
4.65% |
2.6% |
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?
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 |
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