Consolidated thread for Priority/Privilege Banking

[highsulphur]

Does bank loan for housing count under AUM? If yes, which banks?

Planning to do a housing loan soon, and want to see if can apply for PB as well

Hsbc did it for me but that was 5 years ago

 

[purpletoysmum]

I think Dbs counts housing loan. And shares if you put in their custodian acct.

 

[Inix]

Most banks does. SCB and HSBC will put one under priority banking as long the loan is above $1M. TBH, putting into today's housing prices, $1M isn't that tough to hit as a suburban condo is already around $1.5M for the more central areas like AMK

 

[spearhawk]

Seems like a different quantum using housing loan for AUM.

Anyone knows what is the requirement for the other banks based on housing loan?

 

[yttik]

someone mentioned earlier that its the quantum you already paid up (i.e home value - loan amount)

that's how i interpret it.

 

[cybercom8]

can anyone please share if its alright to claim all the benefits and freebies under citibank's cpc if you dont give them much business?

stuff like free magazine subscription, limo rides, massage etc

 

[lalaisgongon]

can anyone please share if its alright to claim all the benefits and freebies under citibank's cpc if you dont give them much business?

stuff like free magazine subscription, limo rides, massage etc

Hmm i would think so? if you put 1 million sgd with them, thats giving them biz. Cause you are giving capital to use?

 

[Inix]

can anyone please share if its alright to claim all the benefits and freebies under citibank's cpc if you dont give them much business?

stuff like free magazine subscription, limo rides, massage etc

Based on a typical Loans to Deposit ratio of 1:10, By depositing your $250K, you are giving them the liberty to loan another $2.5M. So if you deposited $1M, they can now lend $10M.

$10M worth of loans for $1M deposit at 1.9%PA would yield the bank 190K worth of interest a year, while you get around 10K if its a FD of 1% at 1M? With their Net Profit at $180K from your $1M (which is 18%) of your 1M, do you still feel embarrassed ah?

 

[lalaisgongon]

Based on a typical Loans to Deposit ratio of 1:10, By depositing your $250K, you are giving them the liberty to loan another $2.5M. So if you deposited $1M, they can now lend $10M.

$10M worth of loans for $1M deposit at 1.9%PA would yield the bank 190K worth of interest a year, while you get around 10K if its a FD of 1% at 1M? With their Net Profit at $180K from your $1M (which is 18%) of your 1M, do you still feel embarrassed ah?

Well Said!

 

[cybercom8]

Based on a typical Loans to Deposit ratio of 1:10, By depositing your $250K, you are giving them the liberty to loan another $2.5M. So if you deposited $1M, they can now lend $10M.

$10M worth of loans for $1M deposit at 1.9%PA would yield the bank 190K worth of interest a year, while you get around 10K if its a FD of 1% at 1M? With their Net Profit at $180K from your $1M (which is 18%) of your 1M, do you still feel embarrassed ah?

thanks, i am going to call them now and demand for my freebies

 

[lalaisgongon]

thanks, i am going to call them now and demand for my freebies

While you are at it, might as well enquire about a the ultima card.

seems like a benefit of cpc now

A Treasury of Products
Banking
Deposit accounts in Singapore Dollar and Foreign Currencies
Singapore Dollar and Foreign Currency Time Deposits
Debit Cards that can be used globally
Citibank ULTIMA Card and other Citi Credit Cards

https://www.citibank.com.sg/cpc/sgp_ourser.htm?lid=SGENCPCLPCLNTLWealthManagementProductsCPLN

 

[DevilCurseYou]

Based on a typical Loans to Deposit ratio of 1:10, By depositing your $250K, you are giving them the liberty to loan another $2.5M. So if you deposited $1M, they can now lend $10M.

$10M worth of loans for $1M deposit at 1.9%PA would yield the bank 190K worth of interest a year, while you get around 10K if its a FD of 1% at 1M? With their Net Profit at $180K from your $1M (which is 18%) of your 1M, do you still feel embarrassed ah?

I believe the correct description is:

Based on a typical capital reserve ratio of 1:10, By depositing your $250K, you are giving them the liberty to loan another 225K. So if you deposited $1M, they can now lend $0.9M.

$0.9M worth of loans for $1M deposit at 1.9%PA would yield the bank 17.1K worth of interest a year, while you get around 10K if its a FD of 1% at 1M? Their net profit is $7.1K from your $1M.

Banks can only loan what they have. To loan money out, the money either comes from deposits, or borrowed from other banks. They do not magically create dollar bills to loan out. What is meant by the bank creating money is that there are more assets in the economy, matched by more liabilities.

 

[Inix]

I believe the correct description is:

Based on a typical capital reserve ratio of 1:10, By depositing your $250K, you are giving them the liberty to loan another 225K. So if you deposited $1M, they can now lend $0.9M.

$0.9M worth of loans for $1M deposit at 1.9%PA would yield the bank 17.1K worth of interest a year, while you get around 10K if its a FD of 1% at 1M? Their net profit is $7.1K from your $1M.

Banks can only loan what they have. To loan money out, the money either comes from deposits, or borrowed from other banks. They do not magically create dollar bills to loan out. What is meant by the bank creating money is that there are more assets in the economy, matched by more liabilities.

My bad. You're right.

 

[flikmy]

SCB Priority

Supposedly SCB has better FX rates for priority customers.
Anyone has any idea how much better? Mainly thinking about the FX conversions for SC online trading.

 

[bazingaman]

Supposedly SCB has better FX rates for priority customers.
Anyone has any idea how much better? Mainly thinking about the FX conversions for SC online trading.

Yes. not very significant but still good. I can see a difference of 0.008346 per USD..

 

[icicic]

Yes. not very significant but still good. I can see a difference of 0.008346 per USD..

83 pips is very significant

 

[sgdividends]

For Scb priority banking fall below fee, how stringent are they?

Can waive off?

 

[cybercom8]

For Scb priority banking fall below fee, how stringent are they?

Can waive off?

do they even bother to charge in the first place?

 

[sgdividends]

do they even bother to charge in the first place?

Im wondering whether to get it.....they dont charge?

 

[cybercom8]

Im wondering whether to get it.....they dont charge?

not sure about others but i had not been charged even though my balance has dropped below the threshold before.