Citi Wealth First Account (Citigold)
Citi Wealth First Account (Citigold)
- 0.01%
- Base Interest Rate p.a.
- 7.51%
- Max. Interest Rate p.a.
- S$250,000
- Total Relationship Balance
Get S$800 Cash via PayNow OR 11,250 SmartPoints when you start a Citigold relationship, make a S$250,000 deposit within 3 months of account opening and maintain the funds until gift fulfilment. T&Cs apply. Use 11,250 SmartPoints to fully redeem a product from our Rewards Store.
PLUS for a limited time only, get an additional S$200 eCapitaVoucher from Citibank for eligible New-To-Bank customers! T&Cs apply.
Are you eligible?
MoneySmart Exclusive promotion is valid from 01-December-2024 till 31-December-2024
Applicable for New-to-bank account holders only
Customers must apply through MoneySmart to be eligible
What you need to know
Start a new Citigold banking relationship during the Qualifying Period
Open an Eligible Bank Account within one (1) month from application
Deposit a minimum sum of S$250,000 AUM, comprising of fresh funds, into the Eligible Bank Account within 3 months of account opening, including the month of account opening
Maintain AUM Fresh Funds of at least S$250,000 in the Eligible Citigold Account from the deposit period till Gift Fulfilment.
Use 11,250 SmartPoints to fully redeem a product from our Rewards Store. If the product costs more, redeem with your points and top up the rest by purchasing additional SmartPoints. Enjoy flexible redemption and get the rewards you want!
With 11,250 SmartPoints* earned, you can redeem:
- Apple Watch Ultra 2 49mm | Top up $110 more only
- Apple 11-inch iPad Air 128GB | Redeem in full
- LUMOS ATOM Home Cinema Projector | Redeem in full
- Sonos Bean Gen2 Soundbar | Redeem in full
- Sony Playstation VR2 | Redeem in full
- OR many other options available at our Rewards Store today.
- For more information regarding SmartPoints, refer to our FAQ here.SmartPoints will be credited into your points wallet, with a validity period of 1 year. You can choose to redeem any reward, or accumulate your points for future redemptions.
Please remember to login to your MoneySmart account and submit your claim by 31st December 2024.
[Festive Bonus Reward] Get S$200 eCapitaVoucher from Citibank when you are a New-To-Bank Customer, and deposit a min. of S$250,000.
Enjoy stackable rewards from Citibank!
- Boost your rewards and enjoy S$250 cash for every S$50,000 investment and/or insurance purchase. T&Cs apply.
- Enjoy Citigold Preferential Rate of up to 2.9%* p.a. on a 6-month SGD Time Deposit. T&Cs apply. Insured up to S$100K by SDIC
- Complete Investment Risk Profile and Fact Find Report and get S$100 cash. T&Cs apply.
- Hold a valid primary/main Citi Credit Card and get a S$100 bonus cash reward. T&Cs apply.
- Take up a Citi Home Loan and get a S$500 bonus cash reward. T&Cs apply.
- Enjoy up to 7.51% p.a. interest when you join Citigold and open a Wealth First account. T&Cs apply. Insured up to S$100K by SDIC
- Enjoy 0%* commission when you trade for U.S. & H.K. markets. T&Cs apply.
All Details
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Citi Wealth First Account (Citigold) Benefits
A wholly-owned subsidiary of Citigroup, Citibank Singapore has been providing wealth management products and services, including investments, insurance, deposits and treasury products since 1902. With a reported total assets of around $2.431 trillion, Citibank has a selection of savings accounts for you to choose from.
If you’re looking for investment-focused priority banking programmes, Citibank has 3 types — Citigold, Citi Priority and Citi Private Client. In this review, we’ll look at Citigold which offers you up to 7.51% p.a. bonus interest, and is mostly for individuals who can meet the required minimum Assets Under Management (AUM) balance of $$250,000.
Let's examine the pros and cons of taking up a Citi Wealth First Account (Citigold).
Pros & Cons of Citi Wealth First Account (Citigold)
Pros ✅
- Base interest rate of 0.01% p.a. and up to 7.51% p.a. of bonus interest rate
- Instant payments and real-time balance updates
- Quick and convenient transactions via Citi Mobile App, Citibank's online website, and CitiPhone Banking
- Access to in-depth global market insights and research knowledge over 350 research analysts
- No overseas cash withdrawal fee across Citibank ATMs worldwide
- No conversion or foreign transaction fees and administrative charges in over 150 currencies in Citibank Global Wallet when using Citigold Debit Mastercard
- Dedicated relationship manager to assist in portfolio management
- Access to wealth advisory tools such as the Citigold Total Wealth Advisor (TWA) and the Citigold Diversification Index (CDI) via Citi Mobile App
- Lifestyle privileges such as dining and shopping discounts
- Tiered, stackable bonus interest available through actions
- 0% commission when buying trades online for U.S. & Hong Kong markets for 6 months on new Citibank brokerage accounts
- Enjoy 3-month SGD Timed Deposit at up to 3% p.a. interest and 6-month SGD Timed Deposit at up to 2.9% p.a. interest
- Complimentary annual fee waiver on Citi credit cards (applicable to 1 Citi core credit card and 1 Citi co-branded credit card excluding Citi Ultimate and Citi Prestige)
- Citigold status recognised at international Citibank branches
Cons ❌
- Need a minimum of at least $250,000 of deposit
- Required to spend at least $250 per month or make multiple retail spends amounting to at least $250 in a month using Citibank debit card to earn the Spend bonus interest of 0.20% p.a.
- Limited benefits that exclude airport lounge access and limousine transfer services
- Complex eligibility to qualify for maximum 7.51% p.a. bonus interest (e.g. credit salary + invest + insure + borrow + save)
- Each action only gives additional 1.5% p.a. bonus interest
Citi Wealth First Account (Citigold) Requirements
Citi Wealth First Account (Citigold) Interest Rates & Fees
With Citibank’s latest promotion, enjoy up to 7.51% p.a. interest on your savings when you join Citigold and open a Citi Wealth First Account. However, the actual interest rate you’re entitled to really depends on which spending category you fulfil—average daily balance, retail spend, lump sum investment, insurance policy purchase, and new home loan.
Another thing to keep in mind are the other fees that may eat into your savings, such as cash withdrawal fees, annual fees and foreign currency transaction fees, some of which are not usually published upfront on most banks’ websites. Citibank applies certain fees but also waives several others:
No Overseas ATM Cash Withdrawal Fee
One of the benefits of being a Citigold account holder is that you can withdraw cash anytime from your account from any Citibank ATMs worldwide without having to pay for any overseas cash withdrawal fee.
No Conversion or Foreign Transaction Fees and Admin Charges
What’s great about the Citi Wealth First Account (Citigold) is that you can enjoy zero foreign transaction or currency conversion fees in over 150 currencies with the Citibank Global Wallet when paying with the Citigold Debit Mastercard.
If you're unsure about what a foreign transaction fee is, it comprises 3 components: a fee that is charged by a credit card network such as MasterCard or Visa, and another fee that is charged by your card issuer company i.e. Citibank in this case, and lastly, the third component which is the dynamic currency conversion fee that’s usually 1% (only if you pay in SGD instead of overseas currency).
Account Service Fee
A Monthly Account Service Fee of S$15 will be charged if your Total Relationship Balance is less than $15,000 in your Citi Wealth First Account (Citigold) at the end of each month.
Account Closure Fee
An early account closure fee of S$50 will also apply if the Citi Wealth First Account (Citigold) is closed within 6 months from the date of account opening.
Elevate Your Wealth as an Accredited Investor With Citigold
Want better investments, better advice, and better rewards? If you’re a qualified accredited investor, take advantage of Citigold’s wealth (no pun intended) of investment opportunities, dedicated Relationship Manager, and Total Wealth Advisor tool to manage your portfolio all in one place.
More Investment Opportunities & Receive Expert Advice
As an accredited investor, gain access to otherwise restricted investment products such as structured notes, equity linked notes, and selected bonds while entrusting your wealth-building strategy to your dedicated Relationship Manager (RM).
Your RM will design customised investment strategies tailored to your financial goals, risk appetite, and market preferences. They’ll guide you in diversifying your portfolio across various asset classes, and even suggest alternative investments where applicable. Additionally, Accredited Investors will enjoy early/exclusive access to investment opportunities such as pre-IPO investments, private equity, and other high-yield products.
Furthermore, your RM can assist in strategising tax-efficient solutions to optimise returns, monitor market changes, and recommend adjustments to seize opportunities or mitigate risks. Leveraging tools like the Citigold Total Wealth Advisor (TWA), they’ll help project your portfolio’s future outcomes, ensuring your wealth-building aligns with your long-term goals.
Want More High-Yield Options?
Weigh your options and compare other high interest savings accounts here on MoneySmart!
How to Apply for Citi Wealth First Account (Citigold)?
When deciding whether to apply for Citi Wealth First Account (Citigold), it’s imperative to discern if it aligns with your lifestyle and long-term financial objectives. If you’re financially well-positioned and can comfortably meet these requirements:
- Spend at least S$250 (or equivalent in foreign spend) on eligible retail transactions per month with Citigold Debit Mastercard
- Investing a lump sum of at least S$50,000 per month
- Purchasing a new single premium insurance policy of at least S$50,000
- Taking up a new home loan of at least S$500,000
- Increasing account’s average daily balance from previous month’s by at least S$3,000
Then a Citigold account might be beneficial since you can take advantage of the bonus interest rates and maximise returns on your funds.
Here are 3 simple steps to apply for Citi Wealth First Account (Citigold):
Prepare the Necessary Documents
You'll need to provide all the necessary documentation in order for Citibank to approve your application. This list of documents include:
For Singaporeans
- NRIC or proof of Singapore residential address
For Foreigners
- Copy of passport and proof of Singapore residential address
- Copy of Employment Pass/Work Permit with at least 6 months’ validity
- For student pass holders: Prepare a copy of letter of acceptance from approved education institution
Apply via MoneySmart
Click the “Apply Now” button on this Citi Wealth First Account listing page to begin your application.
Otherwise, if you’re a SingPass holder, you can apply on Citibank’s mobile app or website with MyInfo for a quicker application.
Alternatively, you can pick your preferred Citigold Relationship Manager or contact the 24-Hour Citigold Hotline (+65) 6225 5226 for assistance.
Be Informed of your Account Confirmation
Upon successful account application, you’ll either receive a call from your Citigold Relationship Manager and/or a confirmation message will be sent promptly to your handphone and registered email address.
Frequently Asked Questions
How to qualify for a Citi Wealth First Account (Citigold)?
- As long as you’re a Singapore Citizen or Permanent Resident (PR) or foreigner with a valid Singapore Employment Pass/Work Permit residing in Singapore, you’re eligible to apply for a Citi Wealth First Account (Citigold). You’ll also need to be aged 18 and above, and there’s no minimum monthly income required but you'll have to meet the minimum AUM of S$250,000.
Where do I apply for a Citi Wealth First Account (Citigold)?
- Click on the "Apply Now" button found here on our dedicated MoneySmart Citi Wealth First Account (Citigold) listing.
Alternatively, SingPass holders may apply through the Citi mobile app or Citibank's website with MyInfo. You can also contact your preferred Relationship Manager, or call Citigold’s 24-Hour Hotline at (+65) 6225 5226. Are there any fees if I get a Citi Wealth First Account (Citigold)?
- As a Citigold account holder, enjoy zero overseas cash withdrawal fees and foreign transaction fees.
There’s an Account Service Fee of S$15 per month if your Citi Wealth First Account (Citigold) balance falls below S$15,000 at the end of each month. How many types of currencies does my Citi Wealth First Account (Citigold) support?
- Every Citi Wealth First Account (Citigold) can support up to 150 different currencies with zero conversion charges and transaction processing fees when you pay with your Citigold Debit Mastercard.
Is there a difference between a Citi Wealth First Account (Citigold) and a Citi Wealth First Account (Citi Priority)?
Yes. You'll get to enjoy more benefits when you qualify for and open a Citigold account as compared to a Citi Priority account.
Having a Citi Wealth First Account (Citigold) means you earn a base interest rate of 0.01% p.a. and up to 7.51% p.a. bonus interest rate, you're also entitled to a dedicated Relationship Manager to help you manage your investment portfolios, early or preferential access to select investment products, more lifestyle benefits, and access to wealth advisory tools such as the Citigold Total Wealth Advisor (TWA) and the Citigold Diversification Index (CDI) via Citi Mobile App–all of which are much more perks than what a Citi Priority customer gets.
While there is no minimum monthly income required to have a Citi Wealth First Account (Citigold), the minimum deposit or investment of $250,000 is needed to be in your Citi Wealth First Account (Citigold) at any point of time, which is more than triple the amount required for a Citi Wealth First Account (Citi Priority).
What if I encounter problems in my Citi Wealth First Account (Citigold) application?
- You may contact your preferred Relationship Manager, or call Citigold’s 24-Hour Hotline at (+65) 6225 5226 whenever you need help in your application.
What is a Citigold account?
- Citigold is designed for individuals with a minimum of S$250,000 fresh funds in Assets Under Management (AUM).
“AUM” refers to the combined balances held in a client’s primary accounts including Citi checking and savings account, time deposits, investments, and life insurance premiums where applicable.