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Excellent! ROSHI has found 9 accounts that suit your criteria.

UOB Privilege Banking

4.0Good to Excellent

Privilege Banking CardConnected Cards

Up to $1,200Sign-Up Reward

$350,000Minimum Deposit

Open Account

on UOB's website

Account Information

  • Base Interest Rate

  • AmountInterest Rate (p.a.)

  • Initial deposit$350,000.00

  • Min. Monthly Balance$1200

Fees and Charges

Cheque Book Fee

Standard Chartered Priority

4.4Good to Excellent

Priority Visa Infinite Credit CardConnected Cards

Up to $9,000Sign-Up Reward

$200,000Minimum Deposit

Open Account

on Standard Chartered's website

Account Information

  • Base Interest Rate

  • AmountInterest Rate (p.a.)

  • Initial deposit$200,000.00

  • Min. Monthly Balance$9000

Fees and Charges

Cheque Book Fee

OCBC Premier Banking

4.0Good to Excellent

Premier Voyage CardConnected Cards

Up to $2,750Sign-Up Reward

$200,000Minimum Deposit

Open Account

on OCBC's website

Account Information

  • Base Interest Rate

  • AmountInterest Rate (p.a.)

  • Initial deposit$200,000.00

  • Min. Monthly Balance$2750

Fees and Charges

Cheque Book Fee

Maybank Premier

4.4Good to Excellent

Premier World MastercardConnected Cards

0Sign-Up Reward

$50,000Minimum Deposit

Open Account

on Maybank's website

Account Information

  • Base Interest Rate

  • AmountInterest Rate (p.a.)

  • Initial deposit$50,000.00

Fees and Charges

Cheque Book Fee

HSBC Premier

4.4Good to Excellent

Premier Mastercard Credit CardConnected Cards

5530Sign-Up Reward

$200,000Minimum Deposit

Open Account

on HSBC's website

Account Information

  • Base Interest Rate

  • AmountInterest Rate (p.a.)

  • Initial deposit$200,000.00

  • Min. Monthly Balance$5530

Fees and Charges

Cheque Book Fee

DBS Treasures

4.1Good to Excellent

Treasures Black Elite CardConnected Cards

0Sign-Up Reward

$350,000Minimum Deposit

Open Account

on DBS's website

Account Information

  • Base Interest Rate

  • AmountInterest Rate (p.a.)

  • Initial deposit$350,000.00

Fees and Charges

Cheque Book Fee

Citi Priority

4.0Good to Excellent

Priority Debit MastercardConnected Cards

0Sign-Up Reward

$70,000Minimum Deposit

Open Account

on Citi's website

Account Information

  • Base Interest Rate

  • AmountInterest Rate (p.a.)

  • Initial deposit$70,000.00

Fees and Charges

Cheque Book Fee

Citigold

4.3Good to Excellent

Prestige CardConnected Cards

Up to $6,826Sign-Up Reward

$250,000Minimum Deposit

Open Account

on Citi's website

Account Information

  • Base Interest Rate

  • AmountInterest Rate (p.a.)

  • Initial deposit$250,000.00

  • Min. Monthly Balance$6826

Fees and Charges

Cheque Book Fee

CIMB Preferred

4.2Good to Excellent

Preferred Visa InfiniteConnected Cards

0Sign-Up Reward

$250,000Minimum Deposit

Open Account

on CIMB's website

Account Information

  • Base Interest Rate

  • AmountInterest Rate (p.a.)

  • Initial deposit$200,000.00

Fees and Charges

Cheque Book Fee

  • accounts Basics

  • Tips and Hints

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Priority Banking Explained

Priority banking is completely different from normal banking. It is designed for wealthy customers who can afford large amounts of deposits and transact large amounts of money with a bank. When you are a priority banking customer, you will be a VIP client at the bank and you will get some additional benefits that normal clients will not get.

In order for you to qualify to become a priority banking client, you need to qualify first. There are a couple of things you need to qualify for. You need to have a certain number of assets with the bank. These assets can be anything from investments, bonds, shares, and cash in your savings account.

The requirements for becoming a priority banking client aren’t as high as you might think you should have assets of at least $70,000 in the bank. . To become a private bank client’s requirements are a lot higher.

However, just because you do qualify, it doesn’t mean that you should consider it. You need to make sure that this is really something that will benefit you and your finances before you consider becoming a priority banking customer.

Best Priority Banking Accounts in Singapore (2022)

Priority Bank AccountPerks
Standard Chartered PriorityBest Sign-up PromotionApply Now
Maybank PremierMost Affordable Priority ServiceApply Now
DBS Treasures Best for DBS All-in-One AppApply Now

Pros of Priority Banking

Priority Queueing
When you are a priority banking client, you don’t need to stand in line to get assistance at the bank anymore. You will go straight to the counter for assistance. There is a priority queueing that is especially for the clients that are priority banking clients.
Higher Interest Rates on Saving Accounts and Investments
As a VIP of the bank, you will get higher interest rates on your savings account and investments. Meaning that you are going to increase your money a lot faster than when you aren’t a priority banking client. This is one of the reasons why so many people are considering this option when they qualify for priority banking.
Foreign Exchange Rates
This is a great benefit for those that are traveling a lot and need to exchange different currencies. The moment that you are a priority banking client, you can get better exchange rates. Meaning that your rates will be better than those people traveling that isn’t doing priority banking.
You Will Work with a Relationship Manager
Many people like this benefit, when you are a priority banking client. You don’t work with random people at the bank, as the normal bank tellers. You are working with a relationship manager that is taking care of your money. You are always contacting the same person if you have any inquiries about your money, account, or investments. And, you know that the relationship manager has the experience to take care of your money for you.
Banking Fees
When it comes to banking fees, you will know that priority banking clients don ‘t pays any banking fees. No matter how many transactions you are doing. Any fees that you normally would pay at banks, isn’t a problem anymore and you will save a lot of money in the process. Especially if you are using your bank card a lot.

The Minimum Requirements to Become a Priority Banking Client

To qualify for priority banking, you need to make sure that you know what your assets under management or AUM are. This is the main requirement you will need to switch to priority banking. At most banks, the main requirement is a minimum of $70,000 AUM at the bank to qualify. This is a lot less than the AUM requirements for private banking. These are some of the minimum AUM required to become a priority banking client:

Total Assets Suitable Priority Banking Programs
At least $50,000 in the bank Citi Priority, Maybank Premier
OCBC 360 accountAt least $200,000 in the bank CIMB Preferred, Citigold, HSBC Premier, OCBC Premier Banking, Standard Chartered Priority
At least $350,000 in the bank DBS Treasures, UOB Privilege Banking

What do you need from the priority banking program?

What do you need from the bank? What benefits do you want when you become a priority banking client? Are you looking for better exchange rates or are the requirements the most important thing for you to consider?

Know the deposit amount you want to transfer

When you are changing banks or becomes a priority banking client, you will need to deposit a large sum of money into your new bank account. You need to make sure that you know what this amount should be. What you can afford and what the minimum requirement is.

Compare Banks

This is essential. You should take your time and compare banks before you just go and change to priority banking at the first bank you find. Or, to change to priority banking at the bank that you are using for years. Different banks have different options, benefits, and requirements.

You should also make a shortlist of banks to ensure that you know which banks are the best for switching to a priority banking client will be. See what their services are and the type of experience you are getting from them before you choose a bank.

Don’t make any hasty decisions

Take your time. Don’t go and make any hasty decisions that you will regret. There are many things that you need to consider before you can know that you are choosing the right bank to become a priority banking client.

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