SCB Priority vs. UOB Privilege Banking: Priority Banking in Singapore
Updated: 26 May 2025
Written bySingSaver Team
Team
The information on this page is for educational and informational purposes only and should not be considered financial or investment advice. While we review and compare financial products to help you find the best options, we do not provide personalised recommendations or investment advisory services. Always do your own research or consult a licensed financial professional before making any financial decisions.
Standard Chartered Priority and UOB Privilege Banking have markedly different entry points. The former requires just S$200,000 to qualify, while for the latter, you’d need at least S$350,000.
With such a gap, it’s safe to say that both programmes are aimed at different segments of the market, an assumption further borne out when considering the mix of services offered by each platform.
But besides wealth level, what other differences are there between these two popular priority banking programmes in Singapore?
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Comparison table: Standard Chartered Priority vs. UOB Privilege
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Standard Chartered Priority |
UOB Privilege |
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Minimum deposit: S$200,000 |
Minimum deposit: S$350,000 |
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Up to S$16,500 welcome reward |
No welcome reward offered |
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Standard Chartered Priority Banking Visa Infinite Credit Card |
UOB Privilege Banking Card |
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Digital and online wealth management tools, market insights, relationship managers trained and certified by INSEAD, Fitch Learning |
Digital portfolio advisory and management tools, market insights, dedicated Client Advisor and team |
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Mainly focused on investment |
Focuses on investment and wealth management, along with family and lifestyle needs |
Similarities between the two priority banking programmes
Both Standard Chartered Priority and UOB Privilege are priority banking programmes aimed at high-income earners in Singapore. Both platforms promise to help clients grow and protect their wealth through wealth advisory and management services, digital tools, personalised insights, and access to exclusive investment opportunities and banking products.
There are also a slew of lifestyle privileges and rewards customers can enjoy, including elevated banking experiences, preferential interest rates, special promotions, and exclusive lifestyle events. Customers are offered premium credit cards with high-level perks, including accelerated points earn rates, concierge services, airport lounge access and other benefits.
Both programmes have a similar sign-up process: Simply deposit and maintain the minimum account balance required, and indicate your interest by way of email, phone call or online form.
Differences between the two priority banking programmes
Minimum qualifying deposit
Of the two, Standard Chartered Priority has a lower barrier to entry. You can sign up just by depositing a minimum of S$200,000 in fresh funds. Alternatively, you can maintain at least S$1.5 million in housing loans with the bank.
Meanwhile, UOB Privilege Banking requires you to maintain at least S$350,000 in deposits and/or investments with the bank to qualify. This sum can also be maintained in a foreign currency.
Credit card benefits (and annual fees)
Customers of Standard Chartered Priority can apply for the Priority Visa Infinite Credit Card, which offers an accelerated earn rate of the bank’s 360° Rewards points.
Besides earning 2.5 points per S$1 spent, customers will also be rewarded points based on their account balances for savings accounts, fixed deposits, investments and mortgages. This means you can passively rack up points just for maintaining your banking relationship, and actively using your card will help you accumulate points even faster.
UOB Privilege customers, on the other hand, can apply for the UOB Privilege Banking Card. This card functions more like a traditional air miles card, allowing holders to earn 1.2 miles per S$1 spent locally, and 2 miles per dollar spent on luxury brands and overseas transactions.
You’ll also receive 60,000 air miles upon paying the card’s annual fee – which sits at a cool S$1,994 (first year waived). In contrast, the Standard Chartered Priority Visa Infinite Credit Card has an annual fee of S$327 (first year waived).
Area of focus
Standard Chartered Priority’s range of services seems to be more tightly focused on investment and wealth growth. Customers can access in-depth market insights, personalised investment planning, and portfolio management tools to track their financial goals.
UOB Privilege Banking, too, offers a similar suite of investment and wealth services. However, it goes beyond wealth advisory services, providing customers with travel and medical concierge services, as well as overseas education advice via the bank’s partner consultant.
Best priority banking programmes in Singapore (2025)
Now that you have an idea of what two priority banking programmes in Singapore offer, you may be wondering what your options are. Take a look at our top recommendations below:
For a dedicated team of specialists to manage your assets
SingSaver’s take
Standard Chartered Priority Banking suits individuals who are looking for both wealth management and spending rewards with no annual fee. It offers comprehensive wealth management, global banking, and exclusive lifestyle perks for those with a minimum of $200,000 in assets. Benefits include a dedicated Relationship Manager, unlimited 1% cashback with the Wealth $aver debit card, and up to 7.68% p.a. interest with the Bonus$aver account (if criteria are met).
For a well-rounded wealth management solution
SingSaver’s take
UOB Privilege Banking is the right choice for you if you are looking for a wealth management solution that also focuses on areas beyond growing wealth. This includes your family, education and lifestyle needs. This priority banking programme offers insights pertaining to each of these individual areas, putting you in a good place to reach both your personal and financial goals.
For rapid wealth accumulation
SingSaver’s take
This priority banking programme is ideal for individuals seeking comprehensive wealth management services, and clients who are interested in global banking and investment opportunities. In addition, you are able to maintain your Citigold status worldwide, ensuring that you can transact with privacy and efficiency no matter where in the world you are.
Which should you choose?
Well, if you’re looking to dip your toes into priority banking without committing too much funds, the lower qualifying amount of Standard Chartered Priority will make it the better choice.
Assuming you’re in the market for either programme, Standard Chartered Priority offers just investment advisory services, which is perfectly ok if that’s all you’re looking for. Plus, there’s the potential to receive cash rewards, which aligns with your overall goal.
But if you’re seeking lifestyle and family services – on top of wealth advisory and management – then UOB Privilege Banking will likely offer a more well-rounded experience between the two.
If you find that neither of these priority banking programmes are quite what you are looking for, you have plenty of other options, including
Frequently asked questions about priority banking programmes in Singapore
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A dedicated team of wealth advisors
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Investment and global banking privileges
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Preferential interest rates
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Lifestyle and travel privileges
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An exclusive credit or debit card
Priority banking programmes usually require you to make a minimum deposit. While this amount will differ from bank to bank, you can expect this sum to start around S$200,000.
While both priority banking and personal banking are catered towards individual customers (instead of businesses), priority banking is considered a step above personal banking. Priority banking is aimed at high-income individuals and provides them with a range of benefits, from personalised customer service to preferential rates on various financial products.
While the specifics will depend on the priority banking programme you choose, you can generally expect the following:
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About the author
SingSaver Team
At SingSaver, we make personal finance accessible with easy to understand personal finance reads, tools and money hacks that simplify all of life’s financial decisions for you.