Looking rich in Singapore is no longer just about owning a nice car or going on luxurious trips. The true sign of affluence in Singapore is being a priority banking customer. Priority banking is a service designed for high-net-worth individuals who can deposit and transact large amounts of money with a bank. By becoming a priority banking customer, you gain access to a range of exclusive benefits and perks that can help you grow your wealth even further.

There are several priority banking programs available in Singapore, each with its own minimum requirements and benefits. Here are the top 8 priority banking programs in Singapore:

1. Citigold: Requires a minimum of $250,000 in total assets. Offers perks such as a welcome gift of up to $16,855 in cash, a Citigold Debit Mastercard, and access to the Citi Prestige Card.

2. Citi Priority: Requires a minimum of $70,000 in total assets. Offers perks such as a Citi Priority Debit Mastercard and preferential rates for fixed deposits.

3. DBS Treasures: Requires a minimum of $350,000 in investible assets. Offers perks such as fee waivers on telegraphic transfers and access to the DBS Treasures Visa Debit Card and DBS Treasures Black Elite Card.

4. HSBC Premier: Requires a minimum of $200,000 in total assets or a monthly salary of at least $15,000. Offers perks such as the HSBC Premier Mastercard Credit Card, which provides cash rebates and rewards points.

5. Maybank Premier Wealth: Requires a minimum of $300,000 in investments or cash with Maybank. Offers perks such as the Maybank Premier Wealth Platinum Debit Card and access to the Maybank Premier Wealth World Mastercard.

6. OCBC Premier: Requires a minimum of $200,000 in total assets. Offers perks such as up to 3.7% interest on the Premier Dividend+ Savings Account and the OCBC Premier VOYAGE Card.

7. Standard Chartered Priority Banking: Requires a minimum deposit or investment of $200,000. Offers perks such as the Standard Chartered Priority Visa Infinite Credit Card and access to digital wealth solutions.

8. UOB Privilege Banking: Requires a minimum of $350,000 in assets. Offers perks such as the UOB Privilege Banking Card, which provides miles for overseas spending and discounts at selected luxury brands.

The benefits of priority banking include priority queuing, a dedicated relationship manager, better interest and foreign exchange rates, preferential loan packages, fee waivers, and other lifestyle perks. These perks can make your banking experience more convenient and help you maximize your wealth.

When choosing a priority banking program, consider your lifestyle and financial goals. If you travel frequently and enjoy air miles, programs like Citigold or OCBC Premier may be a good fit. If you have business dealings or relatives in Malaysia or Indonesia, the Maybank Premier Wealth program may be worth considering. Ultimately, the program you choose should align with your financial needs and preferences.

Building passive income through dividend funds is a highly recommended strategy for growing your wealth. By investing $48,000 per year for 10 years at a 6% yield, you can accumulate a total portfolio value of $678,051.51. At a 6% yield, this portfolio would generate an annual passive income of $40,683.09.

There are three key reasons why building passive income is beneficial. First, it provides a steady stream of income that can support your lifestyle and cover expenses. Second, it allows you to diversify your income sources and reduce financial risk. Finally, it provides greater financial security and allows you to work towards achieving your long-term financial goals. By investing in dividend funds, you can take advantage of compounding growth and build a sustainable income stream for the future.

Book a call with Ben to learn how to create passive income using dividend funds. Hundreds of his clients have already started. Some of them make $39,600 per year.

Benjamin Low
Benjamin Low

Benjamin is known as The Passive Income Guy. He has helped hundreds of people to build passive income. He is also a member of the Million Dollar Round Table, and Certified Financial Planner™ (CFP®) and Certified Private Banker (CPB).

Leave a Reply

Your email address will not be published.