Consolidated thread for Priority/Privilege Banking

[Heiliong]

You mean the rewards for investment? I find it not worth it, you get max 1.7% back in rewards after paying 2% in fees so I rather not do it. I just transferred in my unit trusts bought elsewhere to get the welcome rewards.

I mean base rewards like $300 for deposit 250k, $300 for holding credit cards, $300 for online signup.

 

[CrashWire]

can pm me if inconvenient on how to maximise this given that 4.5% advance cc is still subpar compared to uob one 5%?

Where are you reading that HSBC Advance is 4.5%?

 

[chopra]

Where are you reading that HSBC Advance is 4.5%?

could b 3.5%. idk


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[taotato]

Hi, anyone knows what's the current bonus for Standard Chartered priority banking sign up ? Thanks!

 

[xun567]

anyone took loan against your equities for these banks ?
Can share whats the interest rate charged for these priority banking for the banks?

wondering which banks interest rate is most competitive to take loan against your investments.

Citigold is offering me all-in around 1.1%. I am curious what rate the other banks are offering too.

It is quite a good deal but I see majority of the ppl here just want to take the welcome bonus and do a merry go round :/

 

[juelim]

Citigold is offering me all-in around 1.1%. I am curious what rate the other banks are offering too.

It is quite a good deal but I see majority of the ppl here just want to take the welcome bonus and do a merry go round :/

How do you get the 1.1%?

 

[xun567]

How do you get the 1.1%?

It is collateralised on your stock holding which explains the low interest. You can reach to your RM for more details.

 

[hwmook]

Citigold is offering me all-in around 1.1%. I am curious what rate the other banks are offering too.

It is quite a good deal but I see majority of the ppl here just want to take the welcome bonus and do a merry go round :/

1.1% is for SGD? Your stock holdings in citibank is all STI stocks?

 

[xun567]

1.1% is for SGD? Your stock holdings in citibank is all STI stocks?

It is a SGD facility. My holding has both US (mostly) and SG stocks

 

[hwmook]

It is a SGD facility. My holding has both US (mostly) and SG stocks

That means you are paying custody fees of 0.18% for your US holdings. Doesn't that increase the cost?

I recently enquire with SC. The interest rate is 0.95% + SORA/SIBOR ( can't remember which one) for SGD and 0.88% + LIBOR. SC doesn't charge custody fees so it seems to be a better deal and moreover you get 12 months free trades for joining priority banking now.

 

[wira]

That means you are paying custody fees of 0.18% for your US holdings. Doesn't that increase the cost?

I recently enquire with SC. The interest rate is 0.95% + SORA/SIBOR ( can't remember which one) for SGD and 0.88% + LIBOR. SC doesn't charge custody fees so it seems to be a better deal and moreover you get 12 months free trades for joining priority banking now.

i;m assuming its 1 mth SIBOR which is at 0.267 now. so around 1.2% then ?

 

[hwmook]

i;m assuming its 1 mth SIBOR which is at 0.267 now. so around 1.2% then ?

Yah, check with your RM.

 

[banyan8]

updated. can someone help verify i make sense? i think i will take out all $250k today and put into syfe since the effective ir for #c below is only 0.86%!!

second trache of citigold - slight edit
deposit $250k 31 jul

A. 3 sep rcv $900 bonus, effective ir 3.8%

B. 14sep referral received another $600, effective ir from 31jul to 14sep 4.9%

C. 1 jan 2022 take out 250k
feb 2022 rcv $640 loyalty
Effective ir from 14 sep to 1jan 0.86%
Effective ir from 31 jul to 1jan 2.0%


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My citi gold $250k is unlocked from end Sep. What's the good next step of merry-go-round? Seems like OCBC premier $1000 credit ($350k for 3mths, EIR 1.14%) is worse than CitiGold $900 cash ($250k for 3mths, EIR 1.44%). Refer family member to join citi gold?

 

[hwmook]

My citi gold $250k is unlocked from end Sep. What's the good next step of merry-go-round? Seems like OCBC premier $1000 credit ($350k for 3mths, EIR 1.14%) is worse than CitiGold $900 cash ($250k for 3mths, EIR 1.44%). Refer family member to join citi gold?

SC priority if you are new to bank.

 

[yoongcy421]

anyone got the ipad air email from the "ending 30june"citi gold promo yet?

 

[arctician]

no i waiting too, mine is may campaign $80K and t&C say 4 months.

 

[banyan8]

anyone got the ipad air email from the "ending 30june"citi gold promo yet?

I signed up the SingSaver promo in Jun and deposited on 1 Jul. The iPad letter will only be given 90 - 120 days from the date of your Rewards Redemption Form submission (21 Jun) or after you have met the promotion eligibility criteria (1 Jul).

I checked only the SingSaver iPad promo t&c requires holding the fund for 90 days. I can't find the CitiGold NTB $900 promo t&c says how long I need to keep the fund, can you confirm?

 

[yoongcy421]

I signed up the SingSaver promo in Jun and deposited on 1 Jul. The iPad letter will only be given 90 - 120 days from the date of your Rewards Redemption Form submission (21 Jun) or after you have met the promotion eligibility criteria (1 Jul).

I checked only the SingSaver iPad promo t&c requires holding the fund for 90 days. I can't find the CitiGold NTB $900 promo t&c says how long I need to keep the fund, can you confirm?

This tnc of meeting the criteria by singsaver is very vague. Seems like it's not from the day we deposited the funds. It counts from when you kept the money there for 90 days only considered complete. Then from this 90 days only start counting 120days for ipad letter. Citibank told me. Disappointing

 

[chopra]

My citi gold $250k is unlocked from end Sep. What's the good next step of merry-go-round? Seems like OCBC premier $1000 credit ($350k for 3mths, EIR 1.14%) is worse than CitiGold $900 cash ($250k for 3mths, EIR 1.44%). Refer family member to join citi gold?

how u do the eir? my eir quite different leh


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[banyan8]

how u do the eir? my eir quite different leh


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1000 * 12 / (3* 350000) = 1.114%, 900 * 12 / (3 * 250000) = 1.44%.